Eager Prospective Buyers Visit Premier Condominium Community from Pinnacle Companies. If the turnout for a recent grand opening celebration at The M at Englewood South is any kind of indicator, the market for condominiums in Northern New Jersey is heating up fast. The Pinnacle Companies, a respected developer of luxury homes throughout the New York Metro Area, announced today that the grand opening of the new community of elegant condominiums in the heart of Bergen County attracted an enthusiastic crowd of prospective buyers.
"We were extremely pleased that hundreds of prospective buyers came out to view the completed building and responded so favorably at the grand opening of The M," said Mary Boorman, senior vice president of The Pinnacle Companies. "The community appeals to diverse visitors ranging from singles and families to empty nesters. With people coming from Bergen and surrounding counties as well as from New York City and other states, it's obvious that this community is fulfilling a niche for the buying public."
The M, which presents sophisticated urban living on Route 4 -- close to the George Washington Bridge and within 12 miles of Midtown Manhattan -- offers 125 one-, two- and two-bedroom plus den residences priced from $274,990.
The M's architectural style is sleek and urban, featuring modern kitchens with maple cabinetry, under-counter lighting, granite countertops, GE Profile stainless steel appliances, and many of the two-bedroom models have center islands. Laundry areas are spacious and include GE side-by-side washers and dryers. The spacious layouts feature nine-foot ceilings (10 feet on the first floor) and entire walls of windows, and many of the homes have either views of the golf course or the central courtyards.
Additional features include elegant en-suite master bathrooms with granite countertops and double sink vanities, oak hardwood flooring in the living area, ceramic tile flooring in the entry hall and kitchen, and plush carpeting in the bedrooms. A powder room is included in almost all of the homes. One garage space is included in the price and shuttle service to New Jersey Transit bus stop is also provided.
Additionally, Pinnacle has two innovative lease-to-purchase options that allow renters to place a portion of their monthly payment into as escrow account to eventually be applied toward the sales price.
The "License to Occupy" option requires pre-approved, potential homeowners to sign a contract for six months to a year as well as an occupancy agreement for the same time period. Pinnacle saves approximately 50 percent of their rent in an escrow account toward the down payment. A small down payment ranging from $5,000 to $10,000 is required to start the program. The potential homeowner must close within a year of signing.
With the "Lease Now, Buy Later" option, pre-approved, potential homebuyers sign a condominium lease and, at the end of a one-year term, are offered the home at a price guaranteed at the time the lease is signed. Pinnacle then gives them approximately 25 percent of their lease payments back toward the down payment.
"Visitors at the grand opening expressed interest in both our for-sale and our lease-to-own programs," Boorman added. "It was clear to us that the recent favorable economic news has signaled a bottoming out of the market. We believe that many people are looking to buy before interest rates and eventually prices go up. Those interested in The M at Englewood South need to act soon to take advantage of the current economic climate."
Amenities at The M at Englewood South include an outdoor pool and a residents' lounge perfect for large parties and entertaining. Buyers will also receive a year's membership at The Gym Englewood, 20 Nordhoff Place, the area's most upscale fitness center. Maintenance also includes satellite TV and Internet service, and the community will be offering attractive audio/video packages as upgrades.
The pedestrian-friendly main streets of Englewood and nearby Ridgewood and Teaneck are perfect for leisurely strolls and window shopping as they offer both high-end designer and eclectic shopping venues as well as fine dining and café-style eateries. The Bergen Performing Arts Center in downtown Englewood provides shows year-round featuring top-name talent.
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