Urban Living at its Finest
New housing adds more sparkle to iconic location
The tens of thousands of new housing units that now line the glittering Gold Coast have generated high demand for their combination of stunning exteriors, spacious interiors and spectacular views. The benefits of this modern urban lifestyle also include the convenience of being within walking distance of mass transit stations, stores, restaurants, parks and many other amenities.
Nestles among the existing architectural residential icons that have shaped the Gold Coast over the years are new projects that are drawing buyers and renters alike to a real estate marketplace that’s still experiencing a boom.
Among the home developers that have played a prominent role in the Gold Coast building boom is K. Hovnanian Homes, the developer of Nine on the Hudson, a 13-story, 278-unit luxury condominium community in West New York. Helping to accelerate sales has been a 20-year tax abatement with 1.1% property tax rate being paid by residents for the first 10 years, with gradual increases afterward. About 70% of the homes here have been sold.
Residences at Nine on the Hudson range in size from 773-square-foot, one-bedroom homes to 2,580-square-food, three-bedroom homes. Onsite amenities include a pool and hot tub, a fitness center, fire pits, outdoor lounge and 24-hour concierge services. A series of special year-round events for residents of all ages also are hosted by the community.
The Hudson River Waterfront Walkway is steps away from the building. New York Waterway offers ferry services from Port Imperial, just a short walk from Nine on the Hudson. Hoboken is a quick ride away on the Light Rail.
Another company with an influential footprint on the Gold Coast is NRIA, which has a number of projects in design and development through NR Living, its luxury home division.
“We see nothing but upside potential for the Gold Coast and we’re delighted to be part of its transformation,” said Glenn LaMattina, senior vice president of Global Business Development for NRIA. “Young professionals are relocating to the Gold Coast because communities like Union City, Hoboken and Guttenberg offer a vibrant, culturally-rich lifestyle and beautiful neighborhoods with a true sense of community.”
LaMattina said the developer’s recently opened Green Roof Condominiums community in Guttenberg offers buyers a short commute to Manhattan, modern floorplans, onsite amenities and generous square footage.
“It’s the first new condo building to be built in 10 years in Guttenberg, the most densely populated municipality in New Jersey; more densely populated than Manhattan,” he said.
The one-bedroom homes — some with dens — have been designed with young professionals in mind and feature open floor plans, built in technology, lots of natural light, balconies and modern finishes The units come with tax abatements and there’s closing assistance and opportunity for low down payments — 3% for qualifying buyers.
Green Roof features onsite parking facilities and amenities such as a rooftop entertainment deck with rain garden, grilling kitchen and an outdoor seating area that transitions to an indoor club room with TVs, catering kitchen, lounge seating and restrooms.
“Many young people are resigned to renting because they can’t accumulate the funds needed for a down payment and closing costs,” said Rich Stabile, NRIA’s senior vice president and project manager for New Jersey. “We’ve put together a fantastic package at Green Roof to get first-time homebuyers in. So far, we have two buyers who are the first in their families to ever own, which is very rewarding.’’
NRIA also has started construction on The Station in West New York, a 10-story mixed use building with 97 apartments — 43 one-bedroom and 54 two- bedrooms — and ground floor retail. The Station, located opposite the Light Rail station on Bergenline Avenue, is scheduled to open in fall 2021. Meanwhile, Lennar Urban has experienced a recent sales surge at Henley on Hudson, a collection of 201 luxury condominium residences on the Weehawken waterfront facing midtown Manhattan. Immediate occupancy is available for the few remaining residences.
The homes here feature two- and three-bedroom floor plans ranging in size from 1,591 to 1,964 square feet of living space. The homes are single-level designs and many offer balconies or terraces to maximize the community’s views. All homes include numerous upscale features and appointments, as well as a home automation system that allows residents to control lighting, temperature, entertainment and more.
Onsite amenities include a private 6,000-square-foot clubhouse with a club room, theater room, billiards and gaming lounge, fitness center, yoga/Pilates room, children’s play studio, an outdoor patio with fire pit and a resort-style infinity swimming pool.
Residents also enjoy easy commuting options, along with a scenic waterfront walkway, numerous parks and proximity to waterfront shopping and dining.
Another community to recently open is One Park, a 14-story, 204-unit condominium community that sits atop the New Jersey Palisades in Cliffside Park.
“Besides the outstanding views, you have the opportunity to live in a building with many resort-like amenities, with easy access into Manhattan. But you get all of this for about one-third of the cost compared to what you would pay in the city,” said Jacky He, CEO of DMG Investments, the developer of One Park. One Park features a glass window wall facade that incorporates elements of the building’s unique location and amplifies a sense of privacy and security. The building features a mix of one- to four-bedroom homes ranging from 752 to 2,983 square feet. Each residence has private outdoor space. The homes are available for immediate occupancy.
Among the many amenities are an indoor 55-foot heated pool, a fitness center, a squash court, an outdoor movie theater and much more.
In Edgewater, The Glass House is a new residential development by National Resources that features 92 luxury condominiums and 15 riverfront town homes. True to its name, The Glass House frames the water and city views through over sized windows. With additional trendy in-home features and an array of high end amenities, The Glass House offers its residents large balconies, high ceilings, ultra-modern kitchens, spacious open floor plans and smart home features. Onsite amenities include roof decks,private pool and cabana area, club rooms and library.
New Rental Properties
In terms of rental properties, developer Bijou Properties has teamed with the Intercontinental Real Estate Corp. to create 7 Seventy House in Hoboken, a collection of 424 luxury rental residences and approximately 25,000 square feet of ground-floor retail space. Named after its address at 770 Jackson St., the apartment community is located steps from the 9th Street Hudson-Bergen Light Rail Station and Hoboken’s Monroe Center for the Arts.
The contemporary building features studios, one-, two- and three-bedroom residences. Immediate occupancy is available. Designed by MHS Architects, the building features a 14-story high rise tower with multiple terraced setbacks, a glass and brick exterior and distinctive columned entryway.
“7 Seventy House offered an opportunity to further elevate Hoboken’s burgeoning west side, which has experienced a lifestyle upswing in recent years with a vibrant new mix of retail, dining, parks and public amenities complementing its cultural core at the Monroe Center,” said Larry Bijou, managing partner of Bijou Properties.
In Bayonne, the Atlantic Realty Development Corp. has opened a 290-unit apartment community called Bayonne Bay. There are six models available, including one- bedroom, two bedrooms with den, and three-bedroom townhouses, offering as much as 2,100 square feet of living space. Most units also offer a private garage.
Onsite amenities include a private party room with exclusive terrace access and views of the waterfront.There also are two levels of fitness and movement studios. The community’s 21,000-square-foot clubhouse includes a billiards table, lounge seating and a Laptop Lounge with a private conference room.