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Exclusive Agents.

Carlton Advisory Services, Inc., as exclusive sale advisor to Park Edge Development Corp., announced an opportunity to purchase the 100 percent fee simple interest in a developable site located on New Jersey's Gold Coast in Edgewater, New Jersey. The property is approved for a 24-story, 189unit luxury residential development containing 329 parking spaces and a health club.

The property is a 3.8 acre tract, of which .3 acres extends into the adjacent borough of Cliffside Park. There is 445 feet fronting Gorge Road, with a depth of 300 feet at midpoint. Land elevations range from 50 feet above sea level in the southeastern corner of the Property to 180 feet in the northeastern corner.

Key investment highlights include an excellent location three miles from the George Washington Bridge and four miles from the Lincoln Tunnel; a strong demand for residential units as prices in Manhattan continue to escalate at a higher pace; and the lack of highrise buildings in Edgewater, none of which are of new construction.

The building and floors are designed so that 120 of the total 189 units, or 64 percent of the total unit count, will have Hudson River/New York City views.

Cooper Square Realty, Inc. has been named managing agent for two East Side condominium apartment buildings. They are The Waterford at 300 East 93rd Street, and The Delegate at 301 East 45th Street.

Located at East 93rd Street and the corner of Second Avenue, the 49-story Waterford contains 230 apartments and one retail store. Among its amenities are a health club, private club room, and sun deck.

The 21-story Delegate, located at East 45th, also on the corner of Second Avenue, contains 114 apartments and features a roof deck and storage room.

The facility at 257 West 117th Street is offering wired, affordable space geared towards New Media tenants.

The structure features seven floors, each with 10,000 square feet of rentable space and a full basement, available for lease. The building will offer fiber optics, round-the-clock access with security and a concierge. The site qualifies for both the NMOB Financial incentive package as well as those of the Upper Manhattan Empowerment Zone program.

Audrey Novoa and Pamela S. Title of GVA Williams will act as the exclusive agents for the property.

The building will offer 24-hour access with a new hydrothermic heating system allowing for tenant controlled temperature settings.
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Publication:Real Estate Weekly
Article Type:Brief Article
Geographic Code:1USA
Date:May 31, 2000
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