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REMI to auction Hoboken homes.

REMI Companies has announced that they will sell 40 units at Velocity, the firm's flagship Hoboken luxury condominium community at an auction conducted by Accelerated Marketing Partners on June 24 at the Hyatt Regency in Jersey City.

The 40 Select 1, 1+den, 2, and 3 bedroom residences will be offered at published minimum selling prices. Just to give you an idea of where these minimum selling prices start, a One-bedroom unit will be offered with the minimum base price of $295,000.

In its decision to auction the 40 condos at Velocity, REMI is the first developer to let buyers establish the fair market value for new luxury construction in one of the New York metropolitan area's most desirable cities.

"We are putting the power in the hands of the marketplace," said Kaiser, "We are so confident in the superior quality of VELOCITY that we are conducting this auction in one of the hottest real estate markets in the country in order to let buyers determine what new luxury construction in Hoboken is really worth."

Velocity, which has 128 luxury units, is one of the only residential developments in Hoboken to offer 24-hour concierge service. Amenities also include a 25,000 s/f fully landscaped private park, Brazilian cherry hardwood floors, granite and marble finishes, washers and dryers in every unit, a state-of-the-art fitness facility, on site parking, a comprehensive building security system and high-speed internet access.

It is the first residential building of its scale in Hoboken to be constructed using precast concrete panels. The building features 12-inch thick concrete floors, and 7-inch thick concrete walls, making it virtually soundproof and offering the utmost privacy for its residents.
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Publication:Real Estate Weekly
Date:Jun 20, 2007
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