Prime Gold Coast offering should prompt bidding flurry.Twenty high end condominiums at The Park House, a five-story magnificently-appointed residential building in Edgewater, New Jersey Edgewater is a borough located on the Hudson River in Bergen County, New Jersey. As of the United States 2000 Census, the borough population was 7,677. As of the 2005 Census estimate, the borough had a population of 9,646. with breathtaking views of 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. , are on the market for sale through New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of City-based Eastern Consolidated. Situated on the "Gold Coast," The Park House sits less than a mile from the George Washington Bridge George Washington Bridge, vehicular suspension bridge across the Hudson River, between Manhattan borough of New York City and Fort Lee, N.J.; constructed 1927–31. It is one of the longest suspension bridges in the world. and is only a four-minute walk to the new Edgewater Ferry Terminal. Eastern's senior directors Jeffrey B. Troy and Deborah L. Gutoff, together with Paul J. Nigido, Financial Services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. , are exclusively representing the seller. The property, a 24, 229 s/f building, consisting of 8 two-bedroom, 14 one-bedroom, and 2 studio apartments, was built as a 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. . Of the 24 total units, three have already been sold and one is pending contract. Of the 20 free-market condos currently for sale, 8 were rented at the initial stage of the project and are now below market rates, while 12 are vacant, offering the new owner the options of either renting the units in at the current rate, or selling them individually on a retail basis. "Rarely does such a prime piece of residential real estate come to market," said Gutoff, "and rarely does a potential investor have such an excellent opportunity to maximize rental income Noun 1. rental income - income received from rental properties income - the financial gain (earned or unearned) accruing over a given period of time in a condo market that has temporarily cooled. "These condos are first-rate, high-end products. They will rent swiftly at high market rates, and when the demand for condominiums accelerates, the new owner can maximize his investment by bringing the appreciated condos to market." Edgewater, New Jersey is a trendy yuppie community, offering a number of amenities including tennis clubs, eclectic restaurants, supermarkets and shopping centers, most within walking distance, all of which help to make The Park House a very compelling place to live. The property stands to substantially increase in value when the Edgewater, NJ Ferry Terminal opens this coming March. |
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