4C — December 23, 2022 - January 19, 2023 — Owners, Developers & Managers — M id A tlantic Real Estate Journal
www.marej.com
O wners , D evelopers & M anagers
Lenders Procida Capital and ConnectOne Bank to bring the project to the market Coldwell Banker Realty celebrates grand opening of new phase at Paris Square adult community
N ORTHVALE, NJ — Anne Van Dyke from Coldwell Banker Realty's Closter/Alpine Of- fice and Coldwell Banker Realty New Homes an- nounced 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 Ave. in Northvale. Prior to Coldwell Banker Re- alty 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 ac- tivity, a lengthy construction process, and the uninspiring marketing of the completed units over its history had led to equally underwhelming sales velocity and a reputa- tion in the local market as a community geared towards the 75-year-old plus age group, rather than one focused on HUDSON COUNTY, NJ — Azarian Realty Co. has announced that it has been awarded a four-building prop- erty management assignment in Hudson County. The assignment consists of mixed-use properties that total 27,433 s/f, with 29 residential units and three commercial units. The firm will be managing and leasing the mixed-use and residential properties located at 99 Clifton Ave. in Weehawken, 6300 Bergenline BAYONNE, NJ – Accu- rate is expanding its Citizen brand of residential lifestyle communities with the launch of leasing at Citizen Bayonne, a new collection of 252 studio, one- and two-bedroom rental residences on Bayonne’s fast- growing waterfront peninsula. The new community is locat- ed at 155 Goldsborough Dr., near Bayonne’s 34th St. and 45th St. Light Rail stations and amidst a growing list of shops, markets, and a planned commuter ferry terminal with service to Manhattan. Designed by Devereaux & Associates , with interi-
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 imple- ment a sales and marketing strategy to effectively deliver this message to the local com- munity,” 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- will bring Azarian Realty Co.’s property management services to the Hudson Coun- ty market and will strength- en its existing presence in northern NJ. The properties were 100% occupied at the time of the assignment. The manage- ment assignment of these properties is an expansion of the firm’s assets under man - agement, which also consists of office, mixed-use, and retail properties across New Jersey and New York. to a sophisticated array of amenities and services, in- cluding a state-of-the-art fit - ness center, resident lounge, co-working space, smart pack- age room, covered parking with electric car charging stations, bicycle storage, and a complimentary resident shuttle to the Grove Street PATH station. An outdoor landscaped courtyard features dining areas, BBQ stations, lounge seating, firepits and foosball tables. Citizen Bayonne is located on a 103-acre peninsula that extends into New York Harbor and is being redeveloped to
74 years old), Paris Square now features a range of one, two and three-bedroom residences ranging from 820 to 1,537 s/f. Every home also offers 9’ ceil- ings, wide plank wood flooring, shaker-style cabinetry, quartz countertops, GE stainless ap- pliances 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 park- ing. The community is nearby many local attractions such as Rockleigh Golf Course, Rock- leigh Equestrian Centre and numerous upscale dining and shopping options. Through the combined efforts of the team, Paris Square’s Jef- ferson Building was sold out prior to its completion. In addi- tion, pre-construction sales for the remaining residences have been robust with 40% already sold. MAREJ “With the addition of these centrally located, premier Hudson waterfront proper- ties, our assets under man- agement now exceed 22 prop- erties and over 1,200,000 s/f,” said Kevin Pelio , senior director of leasing. Pelio adds that “We are beyond excited to take on this man- agement assignment, for a long-holding family office, and bring our best-in-class services and ideas to drive the value of these assets for ownership.” MAREJ include residential and retail uses, as well as pocket parks, waterfront walkways, mass- transit and other commu- nity uses. Residents are just a short walk from retail destina- tions such as Starbucks, CVS, Costco, Stop & Shop, and Lidl, as well as LA Fitness, which is coming soon. Both Manhattan and neigh- boring Jersey City are easily accessible. Residents can walk to NJ TRANSIT’s 34th Street and 45th St. stations on the Hudson Bergen Light Rail, which whisks commuters to the Exchange Place PATH station in 15 minutes. MAREJ
Paris Square
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 prop- erty intending to resuscitate it as a destination for active adults in northern New Jersey. Immediately, Alvin knew that
it would also be critical to “re- introduce” the community to the local market by creating an A-team of local profession- als known for their financial acumen of the market, repu- tation for quality construction and keen marketing skills. Recognizing their track re- cord of success with similar assignments, he selected the
Azarian Realty Company gains a four building property management assignment in Hudson County, New Jersey
99 Clifton Ave. in Weehawken, NJ
6408-6410 Polk St. in West New York. The assignment
Ave. in West New York, 83 6th St. in Guttenberg, and
Accurate launches leasing for Citizen Bayonne, New Jersey
Citizen Bayonne Courtyard
ors by H&H Designers and landscape design by Melillo
& Bauer . Residents will have access
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