Real Estate Weekly
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One Park marks Chinese developer’s Gold Coast debut

“World class,” is how one Sotheby’s broker described Chinese developer DMG Investment’s newest and, perhaps, most ambitious US development to date during a preview for local brokers recently.

“Extraordinary,” said another. “Unique,” was also heard a lot that night, along with refined, dynamic and even majestic.

To be sure, if DMG wanted New York to sit up and take notice, they may well have done it with One Park, a 14-story luxury condo now rising on the cliffs of the New Jersey Gold Coast.

The company is a relative new-comer to the tri-state apartment scene, but has been active in Texas, Tennessee and Wisconsin pumping some $1.6 billion into a variety of development projects.

Their push into greater New York seems to be as well crafted as One Park, a 204-unit luxury tower where no detail appears to have been overlooked.

The site itself sits on a coveted landmass atop the Palisades in Cliffside Park, a dormitory town of locals and commuters where a flow of early buyers are waking up to the idea of living a life of luxury overlooking the cosmopolitan white elephant of Manhattan skyscrapers where ever-rising prices have the luxury market on edge.

Even from the second floor on a recent foggy day, city landmarks stand out, from the Columbia University chapel to 432 Park all the way down to 1 World Trade Center. From the top, you can see Cloisters and the GWB, said Gene Cordano, the Halstead Property Development Marketing (HPDM) sales director for One Park.


After DMG bought the site from a developer done in by the recession, they spent two years blasting a space in the side of the cliff and shoring up the rock. They spent $200,000 building a playpark across the street in a gesture to a town that has seen little in the way of new development in recent years.

“At 14 stories, you couldn’t get any higher,” said Cordano. “Local zoning kept the height to 14 stories, but the location and the L-shaped design means that every apartment has views starting on the second floor. 70 percent of the units have river views.”

“The site is 240 feet above the [Hudson] river,” said Cybil Ho, a sales associate at One Park. “It is on the last piece of cliff in Cliffside Park so, after this, there will be no more.”

The developer has harnessed the skills of craftsmen around the globe to showcase the skyline.  Architectura designed the building with a glass curtain wall that not only affords floor-to-ceiling windows, but is designed to mitigate cold and prevent condensation forming within the double-panes. In the summer, it deflects infrared light, keeping the apartments cool.

Smart Thermostats from Climatemaster, which is manufactured by Daikin,  a Japanese brand, regulate not just the heat, but the humidity inside the apartments, an innovation that helps keep energy usage down while protecting the integrity of the structure.

Ho points to the star-shaped burner on the Thermador cooking range as another little detail that doesn’t just look cute, but creates a larger perimeter than a round burner for more even heating across any pot size. The dishwasher can be programmed depending on how dirty your dishes are – a holiday roast mess or light lunch – then automatically regulates the temperature.

In the bathroom, Ho explained how the developer spent months selecting the solid porcelain bathtub that doesn’t just look sleek, but is easy to clean. ) The bathroom has porcelain wall tile imported from Italy. The mirror is surrounded by natural LED lighting, something every woman should have for applying makeup.

One Park is a mix of one-two and three bedrooms with four duplex penthouses. For every apartment, there is a (free) parking spot in the automated garage that houses 326 vehicles across five stories. The system is run by Unitronics, a pioneer in automated parking that’s already investigating adapting to driverless cars.

Residents have 25,000 s/f of indoor and outdoor amenities to enjoy, from a four-season swimming pool with glass balcony, retractable ceiling and deck, to a play room, 2,000 s/f fitness center, Pilates room and golf simulator, lounge, theater room, squash court, dog park and guest suites available to rent at $125 per day. There is a roofdeck with a dining terrace and fire pits and, once the building opens, in the fall of next year, there will be a free shuttle that runs to the ferry all day.

HPDM officially launched sales in September and, according to Cordano, one bedrooms are almost sold out. A penthouse has also been reserved.

“We are seeing a lot of New York City buyers who like the location,” said the sales manager. “Apples to apples, deal for deal, as far as amenities and square feet, fit and finishes, as a value, it is cheaper than you can get in New York.

“Among our gold coast competitors, deal for deal per square foot, you have a luxury asset, uncompromising views. A first class amenities package. It’s a compelling offering. It’s a great option for commuting, for renters trading up, young families looking for larger apartments and we’ve seen a lot of interest from empty nesters, too.

“And unlike the waterfront, it has a more suburban feel because it’s on a residential street and has nothing in front of it. No other buildings, no cars driving by.

“It’s such a unique piece of land, and, being the first project in New jersey, the developer didn’t want to do something standard, they wanted to do something extraordinary. We think they’ve done it.”

Prices start at $495,000 — no, this is not a typo.

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