Bergen County Real Estate News: July 2006 – Week 4

Bergen county news with an emphasis on aspects affecting real estate, residency and community issues.

Luxurious Housing in Bergen County
New condominiums for sale in Edgewater
Alpine and Closter residents come together
New construction in Cliffside Park
Bergen County Towns come together

Luxurious Housing in Bergen County

The luxurious penthouse in Saint Moritz in Edgewater doesn’t come cheap. A tremendous, 26-storey high view apartment is now rented at $10,000 a month. Edgewater homes, as well as other parts of Bergen County, have evolved into offering luxurious living and housing for those who can afford it. While many feel that the town is reaching its real estate potential, there are more who think otherwise. People feel that in its bid to offer a luxurious life, the town is now overdeveloped. Political tensions have risen and the schools are becoming more crowded than ever. Probably the borough needs to stop and look back into where Edgewater is headed. In a more positive note, Edgewater’s population is more diverse now, as statistics reveal that every one person in five of the town’s 10,700 residents happens to be an Asian.

New condominiums for sale in Edgewater

New condominiums for sale will soon be available in Edgewater, Bergen County. ‘The Residences at City Place’ was purchased by Investcorp International, a New York based real estate group. The group purchased the apartments complex, situated on the waterfront of Hudson River, for $73.5 million. Korman Communitieshad first purchased the apartments from Edgewater Enterprises in the year 2003, only to sell it now to Investcorp and operating partner Savanna Partners. The Residences are situated over retail space, and the area consists of ground level parking, shops, a restaurant, hotel and a gymnasium. Past experiences and the improving market of the luxurious Gold coast housing show that the deal could be a highly profitable one. Over a hundred apartments in City Place were converted into condominiums by Hovnanian Enterprises and were sold out within a short span of 45 days.

Alpine and Closter residents come together

Owners of real estate in Alpine and Closter started a joint effort to minimize truck noise. While Alpine residents have been fighting to reduce the noise for some time now, they realized that a joined effort will lead to better results. Alpine residents proposed to connect route 9W to the east-west thoroughfare of Ruckman Road. 
This suggestion was declined by the Bergen county and New Jersey state officials. Many residents feel that any decision would need the support and backing of politicians, a factor that is lacking on their side. But the battle continues and now both Alpine and Closter residents are trying new means to work towards the results of their cause.

New construction in Cliffside Park

The borough of Cliffside Park exercised its power of eminent domain and filed a declaration of taking. The borough wishes to condemn a new Bergen County real-estate project. The new project will be located in the downtown area, and include of new shops, eateries and luxury apartment buildings, costing an estimated $40 million to build. 
Eleven of the properties that have been condemned are commercial buildings situated on Anderson and Grant avenues, while one is a single-family home situated on Glen Street. The borough has however deposited 6 million dollars with the Superior Court in order to compensate the owners. Up to now, the borough had faced much resistance from the residents on the project. But after talks and negotiations for relocation agreements have been made with most of them. These occupants are also receiving $4500 compensation, the maximum amount permitted under the statute.

Bergen County Towns come together

Ten Bergen County towns have formed a new alliance that will help them save more funds. These towns include managers from Elmwood Park, Fair Lawn, Garfield, Lodi, Hackensack, Maywood, Paramus, River Edge, Rochelle Park and Saddle Brook. The purpose of the alliance is to try and pool the resources in order to get cheaper contracts for all works concerning the township. The alliance members hope to obtain cheaper contracts for purposes like landscaping, road laying, constructions, maintenance etc. While on their own the towns may require $200,000 to $500,000 for purposes like laying roads, the towns expect to get bulk discounts if they come together and pool resources. Many feel that the emphasis on coordination is growing and towns are working together to save the already scarce dollars. Click here for more information regarding real estate news in the Bergen county towns mentioned in this article: Elmwood Park, Fair Lawn (Northvale),Lodi, Hackensack, Maywood, Paramus and River Edge, or try Anat’s archive of Bergen County Real Estate News.

If You’re Thinking Of A Luxury Home In Bergen County…

You’ve come to the right Real Estate Agent. Don’t make the important decision of buying a luxury house in Bergen County without consulting an expert. Anat Eisenberg’s Free Real Estate is your first to owning a Luxury Home in Bergen County. In the report you will find:

• 14 Questions to ask a Realtor
• 5 Powerful Buying Strategies
• 9 Deadly Mistakes Home sellers Make
• Additional Reports
• How To Get Top Dollar In Any Market
• Making the Move Easy on the Kids
• Six Ways To Beat The Stress Of Buying A Home
• Different Reasons to Own Your Own Home
• Things You Should Know about Moving
• When Selling a Home

Get Your Free Inclusive Real Estate Report

Find out more about Bergen County homes available for sale. Anat Eisenberg can help you find your dream real estate property. Anat is no ordinary real estate agent. In short, she is professional, honest and dedicated. Call: 201-750-6232 or email here.