The level of interest from “a diverse collection of prospective homebuyers” is running high at The M at Englewood South, a new community of condos in Bergen County.
The Pinnacle Companies announced that in just four weeks since the enclave’s grand opening, the sales team at The M has been working non-stop with customers and has several homes under contract.
“People of all age groups, including quite a number of singles, couples and empty nesters, are coming in ready to buy,” said Mary Boorman, senior vice president of The Pinnacle Companies.
“It’s possible they were waiting out the storm during the tougher economic times and realize now is the ideal time to purchase the right product at the right price.
“The M at Englewood South fits that bill for many buyers — one reason why the sales pace has already been so successful in such a short period of time. We have also introduced some innovative ‘lease to own’ programs which have allowed us to open up the buying option to prospective buyers who are income qualified but currently do not have sufficient down payments.”
Pinnacle offers two lease-to-purchase options that allow renters to place a portion of their monthly payment into as escrow account to eventually be applied toward the sales price.
The development is located off Route 4, close to the George Washington Bridge and within 12 miles of Midtown Manhattan.
The M offers 125 one-, two- and two-bedroom-plus-den residences priced from $274,990.
Amenities include a shuttle service to New Jersey Transit bus stop and maintenance includes satellite TV and Internet service.
Pinnacle Companies also built Mandalay on the Hudson on the Jersey City waterfront, and Maxwell Place in Hoboken, a joint venture with Toll Brothers, among many other developments.