Historic Redevelopment at NJ's Beacon pays off.

Jersey City's landmark condominium conversion, The Beacon, has passed the $100 million mark in sales. Equally impressive, the feat was accomplished in less than eight months.

"This is an extremely significant milestone for the first phase of our project," said developer George Filopoulos, president of Metrovest Equities, referring to the development's first two buildings, The Rialto and The Capitol, which are already over 75% sold out and being readied for early 2007 occupancy.

"This landmark property continues to attract buyers from all over the metropolitan area," add Filopoulos, who attributes the strong sales activity to The Beacon's well-priced apartments, classic art deco design and exceptional lifestyle amenities.

The Beacon, a $350 million historical redevelopment project that, when completed, will feature a 10-building luxury residential community containing 1,200 homes overlooking New Jersey's Gold Coast.

The Rialto and The Capitol will contain 315 luxury residences and will be united by a beautiful concierge-staffed two-story lobby that will provide direct access to Aqua, The Beacon's exclusive lifestyle and fitness center.

Aqua facilities will include a state-of-the-art gym, yoga studio, children's playroom, screening room, indoor pool, grotto lounge with two hot tubs, saunas, juice bar lounge, and locker rooms with Private steam and treatment rooms.

Located upstairs will be a beautifully restored Art Deco theater with catering kitchen, rooftop sundeck and lounge, and meticulously restored rooms dedicated exclusively for use as poker room, reading gallery and billiards hall.

Many of these amenities will be available to residents for private events. The Beacon also will feature a rooftop restaurant; town center with retail shops, gourmet market and lush landscaping; on-site licensed day care facility; shuttle bus service to Exchange Place, PATH trains and ferries to Manhattan; and valet parking.