Joint venture brings luxury to Hoboken.Toll Brothers, Inc., and Pinnacle Downtown, announced that they have entered into a joint venture to develop an 832-home luxury condominium condominium In modern property law, individual ownership of one dwelling unit within a multidwelling building. Unit owners have undivided ownership interest in the land and those portions of the building shared in common. community on the Hoboken, New Jersey Hoboken is a city in Hudson County, New Jersey, United States. Geography Hoboken is located at 40°44'41" North, 74°1'59" West (40.744851, -74.032941).GR1 waterfront. The joint venture purchased the property from Gotham Partners, L.P. Pinnacle Downtown is a Pinnacle Ltd. Company. The community will be known as Maxwell Place on the Hudson. Located on the Hudson River Hudson River River, New York, U.S. Originating in the Adirondack Mountains and flowing for about 315 mi (507 km) to New York City, it was named for Henry Hudson, who explored it in 1609. Dutch settlement of the Hudson valley began in 1629. on the former Maxwell House Maxwell House is a brand of coffee manufactured by a like-named division of Kraft Foods. It is named in honor of the Maxwell House Hotel in Nashville, Tennessee. For many years until the late 1980s it was the largest-selling coffee in the U.S. and is currently (ca. manufacturing facility with spectacular direct views of Manhattan, the community will include a combination of high-rise and mid-rise luxury condominiums, approximately 1,500 parking spaces and approximately 206,000 square feet of commercial space. The project will include a beautiful waterfront park Waterfront Park can refer to any of a number of parks on a river or other body of water, including:
The 24-acre site, which enjoys 1,000 feet of frontage on the Hudson River, is directly across from midtown mid·town n. A central portion of a city, between uptown and downtown. midtown Noun US & Canad the centre of a town Manhattan and is served by local and regional train and bus lines, and ferries to midtown and downtown Manhattan. Robert I Robert I, duke of Normandy Robert I (Robert the Magnificent), d. 1035, duke of Normandy (1027–35); father of William the Conqueror. He is often identified with the legendary Robert the Devil. . Toll, chairman and chief executive officer of Toll Brothers, Inc., stated, "We are very excited to have joined together with Pinnacle Downtown to develop what we believe is one of the finest parcels of waterfront real estate in the US. This project represents another major step for us as we expand our presence in affluent urban areas where our brand name reputation and success in high barrier-to-entry markets can add value to our buyers, our partners and our shareholders. "We view the urban development market as one with tremendous opportunity in the 21st century." Brian M. Stolar, president and chief executive officer of Pinnacle Ltd., stated, "Pinnacle Downtown believes that this project is a once-in-a-lifetime opportunity to bring a new standard of excellence to the urban marketplace and build a new center of commerce for Hoboken." |
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