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Deals & Dealmakers

Coldwell Banker Realty Celebrates Grand Opening of New Phase at Paris Square Active Adult Community

Anne Van Dyke from Coldwell Banker Realty’s Closter/Alpine Office and Coldwell Banker Realty New Homes, a leading sales and marketing organization in the homebuilding industry, announce the grand opening of The Monroe and Madison Building at Paris Square, a ten-building, 111-residence, 50+ active adult condominium community located at 199 Paris Avenue in Northvale, N.J. Anne Van Dyke and Coldwell Banker Realty New Homes are serving as the sales and marketing team for the community.

The milestone is the latest success story for the Coldwell Banker Realty New Homes team in driving results on behalf of developers, builders and Realtors across New Jersey. Prior to Coldwell Banker Realty New Homes’ involvement, Paris Square had undergone a lengthy 15-year construction process that had only resulted in the completion of half of its planned units. Years of no activity, a lengthy construction process, and the uninspiring marketing of the completed units over its history had led to equally underwhelming sales velocity and a reputation in the local market as a community geared towards the 75-year-old plus age group, rather than one focused on empty nesters from 50-years-old and up.

However, a new developer, Alvin Sarter of Treuhold Capital Group, a New York-based real estate investment company, acquired the property intending to resuscitate it as a destination for active adults in northern New Jersey. Immediately, Alvin knew that it would also be critical to “reintroduce” the community to the local market by creating an A-team of local professionals known for their financial acumen of the market, reputation for quality construction and keen marketing skills. Recognizing their track record of success with similar assignments, he selected the Coldwell Banker Realty New Homes team and Anne Van Dyke from Coldwell Banker’s Closter/Alpine Office as well as local builder Ray Reduce Development, residential designer Deb Franklin, and local lenders Procida Capital and ConnectOne Bank to bring the project to the market.

“Coldwell Banker Realty New Homes understood the value proposition presented by Paris Square relative to the market area competition and immediately set out to implement a sales and marketing strategy to effectively deliver this message to the local community,” said Sarter. “They know exactly what buyers are interested in when buying new construction – particularly in an age-restricted community and focused their efforts on leveraging the quality of what we were building with the amenities package offered at Paris Square.”

Aimed at “junior seniors” (55-74 years old), Paris Square now features a range of one, two and three-bedroom residences ranging from 820 to 1,537 square feet. Every home also offers 9’ ceilings, wide plank wood flooring, shaker-style cabinetry, quartz countertops, GE stainless appliances and Kohler faucets among other living comforts.

Paris Square also boasts a community clubhouse, heated pool, walking path and park, fitness room, stadium-seat theatre, game room, putting green and on-site garage parking. The community is nearby many local attractions such as Rockleigh Golf CourseRockleigh Equestrian Centre and numerous upscale dining and shopping options.

Through the combined efforts of the team, Paris Square’s Jefferson Building was sold out prior to its completion. In addition, pre-construction sales for the remaining residences have been robust with 40% already sold. Construction for the full community is scheduled for completion in 1Q of 2023.

Anne Van Dyke commented, “Paris Square is, dare I say, “sexier,” than many other area age-restricted developments. Because of that we have seen more and more younger buyers coming in during this sales phase. It is clear that there is great excitement for the community in the local area and we look forward to continuing to help people find their homes at Paris Square.”

Sheryl Ritschel, Director at Coldwell Banker Realty New Homes added, “Our success at Paris Square only further underscores the critical role that effective and data-driven branding and marketing plays in the success of a real estate development. We are excited to celebrate this milestone as we grow our reputation as a trusted partner to builders, developers and Realtors across the regional single and multifamily housing community.”

Powered by the Coldwell Banker brand, Coldwell Banker Realty New Homes partners with real estate developers and Realtors through every step of the real estate marketing process to drive successful sales and leasing efforts at new residential properties. Since 1985 the Coldwell Banker Realty New Homes team has helped close over $11B in gross sales across over 20,000 homes in N.J., N.Y., Pa. and Conn.

Paris Square prices start in the mid-$400,000’s. Tours are by appointment only. For more information, visit parissquarehomes.com or call Anne Van Dyke at 201-401-1040.

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