Sales Start for NJ Luxury Waterfront Condos
The two-building Park and Shore is Strategic Capital’s first Jersey City development and the Newport neighborhood's first condominium project in the last eight years.
By Corina Stef
Park and Shore, a luxury condominium rising in Jersey City’s Newport neighborhood, has officially launched sales of its condo residences. The two-building development is Newport’s first new condominium development in the last eight years. The asset is being developed by Strategic Capital, the investment arm of China Construction America, marking the firm’s first Jersey City project. The firm also recently entered the New York City market, with a $140 million equity investment in a Hudson Square condo project.
The property is located along the Hudson River waterfront, next to the four-acre Newport Green park. It comprises 75 Park Lane, a 37-story residential tower with 358 penthouses, studio, one-, two- and three-bedroom units. The other building is the Tribeca-inspired seven-story Shore House, which includes 61 one- and two-bedroom units.
Both buildings’ exteriors and interiors are being designed by award-winning firm Woods Bagot. Amenities include:
- Large windows
- Spacious walk-in closets
- Fully equipped chef kitchens with Bosch appliances
- Marble-clad bathrooms
- Private balconies and outdoor space
- Dining room and wine tasting area
- Fully integrated co-working spaces
- Game room
- Entertainment room with golf simulator
- Children’s room
- 82-foot-long swimming pool
- State-of-the-art gym
- Yoga studio
- Off-site parking garage
- Dedicated pedestrian pathway
- Expansive communal rooftop
“While Jersey City has become a sought-after living destination in recent years, Newport has been lacking in opportunities to buy, particularly along its idyllic waterfront,” Strategic Capital Chief Development Officer Phillip Gesue said in a prepared statement. “The arrival of Park and Shore will begin to address the increasing demand for thoughtfully designed homes offering a suite of amenities unheard of in this area.”
With construction underway, the first closings at Shore House are expected to take place in late 2018 and mid-2019 at 75 Park Lane. Prices for one-bedroom units start at $640,000, two-bedroom units at $1.1 million and three-bedroom units from $2.2 million. The Marketing Directors will handle sales efforts.
Image via www.parkandshore.com