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NJ RESIDENTIAL: Renters rush to JC; Commuters dream homes



Renters rush to JC

The Marketing Directors has leased up two luxury rental apartment buildings in Jersey City.
In eight months, the team completed a total of 421 leases for apartments at Kushner Real Estate Group and Ironstate Development’s 18 Park.
In less than 10 weeks, the firm also brought the leasing campaign to fruition at The Junction, a boutique rental building at 123 River Street, developed by Peter Mocco.
The Marketing Directors served as the exclusive marketing and leasing agents on both projects.
“Jersey City is one of the hottest places to live. There is an extremely high demand for new quality homes and there are so many new developments for people to choose from,” said Jacqueline Urgo, president of The Marketing Directors.

●flatrock 3, llc
Dial M for moving in

Filling a gap for young professionals looking to reside in the borough of Englewood, NJ, are multifamily offerings such as The M at Englewood South, a collection of 125 condominium’s bordering Englewood’s downtown center.
With home prices starting $300,500, The M has recorded a majority of its sales from single-professionals and young couples eager to achieve the American Dream of homeownership.

M at Englewood

According to Jaqueline Urgo, vice president of The Marketing Directors, a sales and marketing agent active in Bergen and Hudson Counties, condominium communities such as The M at Englewood South have also been created to consider the financial considerations of the first-time homebuyer and alleviate many of the concerns that may arise during the purchasing process.
Occupancy dates shortly after signing a contract are an added attraction.
“It starts with competitive pricing which allows singles, couples and families to own a home at a monthly price similar to what they’re paying in rent and not strain their budget,” Urgo said, “and financial incentive programs offered only at new construction communities provide lower downpayment options which is a significant benefit for a generation where many are saddled with student debt.”
The M at Englewood South features sponsor-backed financing programs designed to open to door to ownership for the first-time buyer.
Flatrock 3, LLC, the community’s sponsor, has created a 90 percent financing package that minimizes the downpayment to less than 20 percent.
Located at 104 Riverview Avenue, The M is minutes from Route 4 with access to the George Washington Bridge and just 12 miles to Manhattan.

●j g petrucci
Commuter’s dream homes

The Station at Lyndhurst, a newly constructed rental community developed by J. G. Petrucci Company Inc., recently opened its doors to those looking for a luxury apartment community only nine miles from Manhattan.
Alliance Residential Company is managing the new development, which offers 192 one-, two-, and three bedroom homes.

The Station at Lyndhurst

Prices range from $1,725 to $2,800 and are available for immediate occupancy. Rental applications are processed within 24 hours of receipt.
“The Station at Lyndhurst… is a commuter’s dream — a serene neighborhood just a short train ride from Manhattan,” says Brad Hamel, Alliance’s senior vice president of operations, Northeast and Southeast.
“Another major attraction, as many professionals who work in New York City realize, is that the cost of living is much lower in New Jersey. Already more than a third of the homes have been leased in only two months, and we continue to get applications every day.”

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