M id A tlantic Real Estate Journal — Owners, Developers & Managers — May 2025 — 41
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O wners , D evelopers & M anagers Ribbon-Cutting ceremony marks debut of 256-home residential offering in Northern NJ Malas Development celebrates grand opening of The Marq Teaneck with community leaders
EANECK, NJ — Te- aneck, NJ Mayor Mark Schwartz re- cently joined Malas Devel- opment to officially open The Marq Teaneck, a brand- new luxury rental commu- nity introducing 256 upscale residences and contemporary amenities to this sought-after Bergen County township. Community leaders gath- ered for a ribbon-cutting cere- mony at 329 Alfred Ave. -- less than five miles from George Washington Bridge -- to cel- ebrate the transformation of an underutilized site into a modern residential destina- tion. The Marq’s first phase is already seeing strong demand, with nearly 100 leases signed and new residents moving in. The community also includes 38 affordable housing resi - dences, reinforcing Teaneck’s commitment to diverse hous- ing options. A second building, set to rise adjacent to the initial offering, will add 248 ad - ditional residences, further enhancing The Marq’s pres- ence in the market. Malas Development cleared a former industrial building to create the first phase and will do the same for the second, replac- ing outdated structures and transforming the entire block into a vibrant, thoughtfully designed residential setting. The Marq Teaneck high- lights Malas Development’s expanding presence in New Jersey, building on a strong track record of delivering high-quality residential and commercial properties in Edgewater, Englewood Cliffs, Hackensack, Union City, Ro- chelle Park, Leonia, Cresskill, and Saddle Brook. “This is an exciting moment as we celebrate the successful opening of The Marq Teaneck,” said Mark Malas , managing member of Malas Development. “We are grateful to Mayor Schwartz and township officials for their support in bringing this project to life. This sig- nature residential community is quickly attracting renters seeking sophisticated homes, exceptional amenities, and an ultra-convenient location.” Mayor Schwartz comment- ed: “The realization of this property is a testament to Ma- las Development and I thank them for their dedication.” Designed by CPA Archi- tecture , The Marq’s striking T
six-story building offers stu- dio to two-bedroom floorplans, including select top-floor loft residences with soaring 19- foot ceilings. Each home is designed for modern living, featuring spacious walk-in closets, in-unit washer/dryer, and lavish baths with matte tiled floors and shower walls. Luxury kitchens are equipped with full-size stainless steel appliances, soft-close cabi- netry, polished quartz coun- tertops, and large kitchen islands in select residences. Some homes also include private balconies.
The Marq offers an exten- sive collection of indoor and outdoor amenities designed to enhance daily life. Resi- dents can relax in the beauti- fully landscaped courtyard, which features a swimming pool, sundeck, private kitch- ens, BBQ and dining areas, fire pits, and a dog run. In - side, the community provides thoughtfully designed co- working areas, private con- ference rooms, entertainment lounges, and café spaces, along with a state-of-the-art fitness center and pet spa. The pet-friendly building also
includes concierge service, package and grocery lockers, bike storage, private storage rooms, and garage parking with EV charging stations. The Marq is situated min- utes from Teaneck’s Cedar Lane shopping district and downtown Englewood, home to vibrant restaurants and retailers. High-end shop- ping is available less than 10 minutes away at The Shops at Riverside, while cultural and entertainment venues like Bergen PAC of- fer concerts, comedy, and live performances. MAREJ
Shown from left: Ronnie Ha- boush, Teaneck Mayor Mark Schwartz, and Malas Develop- ment’s Mark & Zach Malas cut the ribbon for The Marq Teaneck.
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