Real Estate Journal — NJAA Conference & Expo — May 12 - 25, 2017 — 7D
www.marejournal.com
M id A tlantic
2017 NJAA C onference & E xpo
Designed by architecture firm Comito Associates Sterling Properties receives approval to develop four-story building at 110 South Bridge Street S
OMERVILLE, NJ — A brand new upscale apartment community will officially be introduced in 2018 near Somerville’s award- winning downtown district, recently named one of the state’s “Great Places” by the New Jersey Chapter of the American Planning Asso- ciation . Livingston based Sterling Properties has received ap- proval to develop the four-story building which will deliver 69 luxury apartments to 110 South Bridge St. in this Som- erset County Borough. Called SOMA, after the building’s location South of Main St. , the project will consist of studio, one- and two-bedroom homes. SOMA will be within walking distance of New Jersey Tran- sit’s Somerville Station, the bustling Division St. Plaza and the many shops, services, dining and entertainment on Main St. Initial Site work on the prop- erty is expected to begin this spring. “There are many factors we consider when choosing new development opportunities, topped by demand, location and a high level of commutabil- ity,” said Nick Hollenbeck , director of sales and marketing for Sterling Properties. “SOMA has all these attributes and an energetic downtown with great restaurants and retail.” Designed by architecture firm Comito Associates , SOMA will blend seamlessly with the architecturally land- scape of downtown Somerville. Homes will range from 585 to 1,290 s/f of space and feature nine-foot ceilings, washer/ dryer in every unit, stainless steel appliances and designer finishes. The building will also offer a state-of-the-art fitness studio and tech lounge. Inte- rior Design firm Mary Cook and Associates has been hired to design the project’s unit interiors and common space. SOMA is part of an aggres- sive development strategy implemented by Sterling Prop- erties, which has nearly 1,000 homes under construction or planned for 2018 across a wide variety of markets and product types. “Much of our focus has been on transit-oriented com- munities in livable and walk- able locations,” said, Jeffrey Garfinkel , director of acquisi- tions for Sterling. n
SOMA
Our Safety Group members saved over
in the last 8 years on Workers Comp costs. How much did you save? $ 1,662,554
Significant upfront discounts on Workers Comp! Declared dividends six years in a row! *
For further details on how to gain the rewards of participating in the new Professional Real Estate Owners and Managers Association Inc. Safety Group #204, please contact: Neil Owens, CIC, Esq. Safety Group Administrator neil_owens@cohenins.com Tel: 973-403-9500 • 800-277-9505 Fax: 973-403-7755
Savings on the cost of Workers Comp coverage are now possible for eligible members of the NJAA who join our unique Workers Compensation Safety Group. Participation also offers these advantages: • Up front discount – most other carriers have reduced or eliminated managed care and other credits • Potential dividend based on experience of this large group – 6 year average of declared dividends is 8.00%* • Easier audit process due to calendar year policy • Customized risk management with the insight of E. B. Cohen experts
1250 Broadway, 36th Floor, New York, New York 10001 • 212-977-9500
Insurance Agents Brokers, Consultants & Risk Managers for the Real Estate Industry
*Past performance is no guarantee of future results. 2015 to be declared December 2016.
101 Eisenhower Parkway, Roseland, NJ 07068 • www.cohenins.com
Made with FlippingBook - Online magazine maker