Developer Sells-Out Ariel Square, Reports 50% Sold At The Emsee

By Anuradha Kher, Online News EditorNewark, N.J. — Despite a slowing economic cycle and troubles in the current housing market, TreeTop Development is reporting significant sales milestones at its two luxury condominium buildings in the historic Hudson County City of Hoboken, N.J.The developer has recently completed its sales and marketing program at Ariel Square (pictured), a collection of 21 residences in a four-story building at the corner of Jackson and Fifth Streets.  “Economic concerns and a lack in consumer confidence have been the main contributors to the decline in sales for luxury condominiums in housing markets throughout the country,” says Adam Mermelstein, a TreeTop principal.  “However, there are specific cases which are bucking the trend and Ariel Square is one.“By introducing upscale homes at prices today’s young couples and families could afford in an urban-inspired, commuter-friendly location, we created a unique housing opportunity that is not often found along New Jersey’s Gold Coast. It was a fresh approach to new-home development and the results were tremendous,” adds Mermelstein.The four-and five-story Emsee, another TreeTop Development project, located between Fifth and Sixth Street, has sold more than 50 percent of its 12 units. One-bedroom condominiums at The Emsee range from 711 to 909 square feet of luxury living space and priced $374,000 onwards with parking. Two-bedroom floorplans offer 1,162 to 1,510 square feet and are priced from $509,000, parking included.  “The Emsee’s upper floor homes each include 224 square feet of usable rooftop space,” Mermelstein says. “The building also offers 11 resident parking spaces and a rear common courtyard. Most of the upscale homes feature balconies.”