The Monroe and Madison Building at Paris Square, a 10-building, 111-residence, 50-plus active adult condominium community in Northvale, celebrated its grand opening, according to a Monday announcement from Anne Van Dyke and Coldwell Banker Realty New Homes.
The milestone is the latest success story for the sales and marketing team of Van Dyke and Coldwell Banker, who have been driving results on behalf of developers, builders and Realtors across New Jersey.
Prior to Coldwell Banker Realty New Homes’ involvement, Paris Square had undergone a lengthy 15-year construction process that had only resulted in the completion of half of its planned units.
After years of no activity, a lengthy construction process and the uninspiring marketing of the completed units, a new developer, Alvin Sarter of New York-based Treuhold Capital Group, acquired the property, intending to resuscitate it as a destination for active adults in northern New Jersey.
Sarter selected the Coldwell Banker Realty New Homes team and Van Dyke from Coldwell Banker’s Closter/Alpine office, as well as local builder Ray Reduce Development, residential designer Deb Franklin and local lenders Procida Capital and ConnectOne Bank to bring the project to the market.
“Coldwell Banker Realty New Homes understood the value proposition presented by Paris Square relative to the market area competition and immediately set out to implement a sales and marketing strategy to effectively deliver this message to the local community,” Sarter said. “They know exactly what buyers are interested in when buying new construction — particularly in an age-restricted community — and focused their efforts on leveraging the quality of what we were building with the amenities package offered at Paris Square.”
Aimed at “junior seniors” (55-74 years old), Paris Square now features a range of one-, two- and three-bedroom residences ranging from 820 to 1,537 square feet. Every home also offers 9-foot ceilings, wide plank wood flooring, shaker-style cabinetry, quartz countertops, GE stainless appliances and Kohler faucets, among other living comforts.
Paris Square also offers amenities such as a community clubhouse, heated pool, walking path and park, fitness room, stadium-seat theater, game room, putting green and on-site garage parking.
Through the combined efforts of the team, Paris Square’s Jefferson Building was sold out prior to its completion. In addition, pre-construction sales for the remaining residences have been robust, with 40% already sold. Construction for the full community is scheduled for completion in the first quarter of 2023.
“Our success at Paris Square only further underscores the critical role that effective and data-driven branding and marketing plays in the success of a real estate development. We are excited to celebrate this milestone as we grow our reputation as a trusted partner to builders, developers and Realtors across the regional single and multifamily housing community,” Sheryl Ritschel, director at Coldwell Banker Realty New Homes, stated.
Paris Square prices start in the mid-$400,000s.