O wners , D evelopers & M anagers

Real Estate Journal —Section B


M id A tlantic

HILADELPHIA, PA — Procida Funding ’s 100 Mile Fund an- Blumenfeld will use funds to renovate the Thaddeus Stevens School in Philadelphia Procida provides a $16.2m construction loan for Eric Blumenfeld’s Mural Arts Lofts P Blumenfeld’s continued efforts to transform the North Broad Corridor section of Philadel- phia. drives me crazy, I love him like a brother and I admire his passion.”

Procida Funding has made over $3 billion in investments since it was founded by award winning developer and gen- eral contractor, Billy Procida in 1995. Procida is known as one of the first to develop in the Tribeca, Harlem, and the South Bronx markets in the 1980’s. “Eric has the vision and controls the best assets in the North Broad real estate mar- ket. I like to invest local with locals. With Domus as his contractor, Richard Sauder and David Chou as architect and engineer (whom date back to his father’s days as a Phila- delphia developer) and Eric’s vision, we are excited to be a

HI-LIGHTS J an . 30 - F eb . 12, 2015 nounced that the firm closed on a $16.2 million construc- tion loan for the famous Mural Arts Lofts building aka the Thaddeus Stevens School. De- veloper, Eric Blumenfeld , is using the funds to renovate the historic site into 56 loft-style apartments featuring many of the original architectural elements such as the chalk- boards, window details and the historic wood cabinetry. This project is just part of

“The architectural detail from the original design blend- ed with a modern interpreta- tion of loft style living will be interwoven together in an elegant way creating some of the most charming residential living opportunities yet to be presented in the Philly real es- tate market” said North Broad St. trailblazer Eric Blumenfeld who went on to say: “I am thrilled to have the support, dedication and wherewithal of a great man like Billy Procida and his amazing organization supporting us in our efforts. Billy is a pioneer and although sometimes he OCEAN/RAMSEY, NJ — Continental Properties an- nounced that two of its New Jersey-based communities are 100% sold, which reflects the firm’s strength in New Jersey. “We are proud to announce that sales at two of our ac- tive adult communities in New Jersey are complete,” said Steven Fisch , manag- ing partner at Continental Properties. “The success at each of these tremendous developments is due largely to our proactive management approach that requires a keen focus on the ongoing over- sight of each property in order to provide our residents with not only the best possible home environment, but also an extraordinary surround- ing community.” With sales recently com- plete, Cedar Village at Ocean is a breathtaking active adult community in desirable Ocean Township, offering an intimate collection of 295 lux- urious single-family homes. Five floor plans are offered that range in size from 1,500 s/f to 2,417 s/f and nearly all of the homes feature two bed-

Thaddeus Stevens School

part of this great project and to see the North Broad trans- formation,” said Billy Procida.

Construction will commence immediately, with occupancy expected in early 2016. n

Continental Properties’ Cedar Village at Ocean and Bear’s Cove at Ramsey 100% sold



DMR Architects awarded NJ police dept. HQ project

Bear’s Cove at Ramsey

Cedar Village at Ocean


rooms, two bathrooms and a two-car garage. Residents of Cedar Vil- lage at Ocean enjoy a resort- like lifestyle provided by the community’s spectacu- lar clubhouse with on-site recreational amenities just steps away from their elegant homes. The clubhouse fea- tures a fitness room, billiards room, arts and craft room, business center, kitchen and meeting/banquet space, an outdoor pool, two Bocce and tennis courts, putting green, exquisite gazebo and pond with a dock. Meanwhile, Bear’s Cove at

Ramsey is a private active adult townhome community that offers a stunning collec- tion of 104 ultra-luxury resi- dences in the heart of Bergen County. Each extraordinary townhome features a master bedroom suite on the first floor and a two car garage. These exclusive residences offer over 3,500 s/f of extraor- dinary living space, with nine-foot ceilings on the first floor, a soaring two-story fam- ily room, dramatic two-story entry foyer, volume ceilings throughout the second floor and a fully finished lower level. In addition, each resi-

dence boasts ultra-luxurious interiors, a gourmet chef’s kitchen and elegant baths. Bear’s Cove is a gated, secured access community featuring a sophisticated clubhouse with an elegant clubroom, catering kitchen, billiards room, game room, card room, and fitness cen- ter. The spa center features a steam room, sauna, and a massage and therapy room. Outside the clubhouse you will find the resort-quality outdoor heated pool with Ja- cuzzi and sun deck, nine-hole putting green, and an official size Bocce court. n

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