ENGLEWOOD, NJ – A desirable location near Englewood’s dynamic downtown setting and a value-laden price point that has all but disappeared from the new construction marketplace are key factors that are driving sales at The M at Englewood South, a new luxury condominium community in the heart of Bergen County.
Introduced at a time when interest rates are historically low and rental rates continue to climb, the new collection of 125 one- and two-bedroom residences is enjoying widespread appeal from buyers who are pleasantly surprised to find such a comprehensive lifestyle offering at prices starting at just $274,990.
“The M is tapping into the market demand for a sought-after living experience at attractive prices from buyers ranging from renters looking to move up to homeownership to empty-nesters desiring a more manageable, maintenance-free lifestyle,” says Ron Orgel, a representative of Flatrock 3, LLC. “Offering homes with this level of design distinction in a convenient Bergen County location at this price point is certainly a compelling proposition, and buyers are reacting favorably.”
Located at 104 Riverview Avenue across from the picturesque Overpeck Golf Course, The M offers residents a best-of-both-worlds setting that blends key suburban conveniences with sought-after urban appeal. Englewood’s dynamic downtown features an eclectic offering of upscale shops and boutiques and more than forty fine restaurants and eateries. Major brand name shopping can be found at the nearby Riverside Square Mall and Garden State Plaza, while the Bergen Performance Arts Center in Englewood features nearly 150 world class performances yearly, ranging from Rock and Classical music to Comedy and Dance performances.
The community is also a commuter’s dream. The M is minutes from Route 4 with access to the George Washington Bridge and just 12 miles to Manhattan. A parking space is included in the purchase price in The M’s enclosed parking garage. For those wishing to use public transportation, shuttle service is provided from the community to the nearby NJ Transit bus stop which offers convenient service into New York City.
Further bolstering the desirable lifestyle at The M are a number of onsite recreational and social amenities including an outdoor pool and a resident’s clubroom with catering kitchen for large parties and entertaining. Residents also receive a one year membership at The Gym, a 40,000 SF state-of-the-art fitness center located at 20 Nordhoff Place.
Equally impressive are The M’s homes themselves, a collection of inspiring single-level floor plans adorned with elegant designer finishes and appointments. Situated in four building extensions that surround three courtyards, affording most of the homes garden views and views of nearby Overpeck Golf Course, the expansive one- and two-bedroom layouts range from 797 to 1,411square feet of living space and feature open living space, sumptuous bedrooms, state-of-the-art kitchens with maple cabinetry, under-counter lighting and granite countertops; large laundry areas with side-by-side General Electric washers and dryers, large walk-in closets and additional powder rooms.
Lavish master bathrooms boast granite countertops and double-sink vanities. There’s also oak hardwood flooring throughout the living area and ceramic tile flooring in the entry hall and kitchen. An additional powder room is included in most of the homes.
“These homes are designed to impress at every turn,” notes Jacqueline Urgo, President of The Marketing Directors, the Manhattan-based sales and marketing firm which is the exclusive sales and marketing agent for The M. “We’re delighted by the favorable public reaction, and we’re confident the momentum will continue to build as we showcase homes in the community’s second phase.”
Sales at The M have also been spurred by two unique rent-to-own programs that allow prospective homebuyers to place a portion of their monthly rent payment into an escrow account which will eventually be applied towards their purchase.
The “License to Occupy” option requires pre-approved, potential homeowners to sign a contract and occupancy agreement for six months-to-a-year. During this period, the developer will place 50% of their rent in an escrow account toward the down payment. A small down payment ranging from $5,000 to $10,000 is required to start the program. The potential homeowner must close within a year of signing.
The “Lease Now, Buy Later” option enables pre-approved, potential homebuyers to sign a one year condominium lease. After the lease term expires, the residents are offered the home at a price guaranteed at the time of the lease signing. The developer gives approximately 25% of their lease payments back toward the down payment should they purchase a home.