140 MAYHILL DEFIES THE ODDS: BERGEN COUNTY RENTAL BUILDING 90% LEASED DESPITE CURRENT ECONOMIC CONDITIONS

140 Mayhill 17SADDLE BROOK, N.J. — 140 Mayhill, the new upscale rental community in Bergen County’s Saddle Brook Township, has enjoyed a level of success that belies the current state of the rental market.

Just months after opening, an impressive 90% of the community’s 158 one-and two- bedroom homes have been leased, according to the Value Companies, which developed 140 Mayhill in a convenient location just eight miles west of Manhattan.

While a large selection of well-appointed interior layouts and competitive monthly rates starting in the $1,500s have much to do with the success of 140 Mayhill, a strong sense of community is also playing a key role in the rising appeal of this desirable suburban address.

“Like so many businesses, the prevailing economic conditions have also affected the apartment rental market,” says Jonathan Moore, vice president of business development at Value Companies. “That’s certainly not the case at 140 Mayhill, however, which has achieved a near-lease-up in a timeframe that would have been considered notable even during the height of the market.

“Several factors can be attributed to the success we’ve had,” Mr. Moore continues. “Of course, the ability to offer upscale homes in a commuter-friendly location just off Route 80 at rental rates much more reasonable than comparable buildings in nearby Hudson County is a prime consideration. However, also contributing is the close-knit, neighborhood environment that has emerged. There’s a great deal of social interaction taking place amongst the residents, particularly in the community’s amenity spaces, which enhances the overall lifestyle we’ve created here. The developer provides the space, but it’s the residents who make the community, and they’ve certainly done that here.”

Highlighting 140 Mayhill’s activity-rich living is the community’s professionally-furnished clubroom which was merchandised by prominent interior design firm Lita Dirks & Co. and includes a catering kitchen for private events and social gatherings, large flat-screen television, Ipod docking stations and ample room for entertaining. There’s also a fully-equipped fitness center which features top-of-the-line fitness machines and free weights, flat-screen TVs and a mirrored stretching room.

“This summer, we also completed the installation of our magnificent landscaping which includes an inviting entryway, lush flower beds and shade trees, and unveiled our dog walk and barbeque patio amenities,” adds Mr. Moore.

140 Mayhill offers 158 luxurious rentals homes ranging in size from 753 square-feet to 1,300 square-feet. Homes come complete with a host of designer features and appointments, including soaring nine-to-11-foot ceilings, elegant three-inch plank hardwood floors, gorgeous French doors leading to the homes’ private balconies, Bosch washers and dryers, spacious walk-in closets with custom-designed shelving, and gourmet kitchens with full GE stainless steel appliance packages, exquisite oak cabinetry, granite kitchen countertops, designer lighting fixtures and designer blinds.

“This community also offers the utmost in convenience,” says Jacqueline Urgo, President of The Marketing Directors, Inc., the marketing and exclusive leasing agent for 140 Mayhill. “Residents benefit from 24-hour on-site maintenance service and reserved garage parking adjacent to the building.”

An added advantage of 140 Mayhill

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