— Partnership Makes Investment Process Seamless by Creating Steady Stream of Prospects for Pinnacle's Stable of Investors —
JERSEY CITY, N. J. (Sept. 9, 2008) — Pinnacle Downtown has announced that it has signed an agreement to partner with Liberty Realty on rentals at its Mandalay on the Hudson community, a 25-story tower of 269 luxury condominium homes in Jersey City, N.J. This partnership is another step towards simplifying the investment process at Mandalay.
Despite the real estate market's current challenges, Mandalay on the Hudson has seen an increase in investor purchases. Located on the Hudson waterfront, the Mandalay sales team reports that over 40 individuals have invested in homes at the luxury high-rise with the intention to renovate and lease.
Many of these buyers rely on the availability of well-qualified tenants in order to make their investments successful. Pinnacle's partnership with Liberty Realty will make the investment process seamless by putting Mandalay investors in touch with a group that has a steady stream of prospects looking for luxurious space to lease as a home.
And with 80 percent of Mandalay's condominium homes already sold, now is the time to invest before the opportunity no longer exists. One-, two- and three-bedroom homes are being offered at affordable prices starting in the low $400,000s. A garage parking space is included in the purchase price.
"We are excited to partner with Liberty Realty at Mandalay on the Hudson," stated Brian M. Stolar, CEO of The Pinnacle Companies. "Many investors are realizing the inherent value, lasting quality and unrivaled location of Mandalay. In order to properly serve this ever-growing group, it was important that we partnered with a realty company that understands both their needs and those of the renters. Liberty's Jersey City location and vast experience in the luxury homes sect makes them the ideal partner."
As a preferred rental specialist, Liberty Realty will dedicate a team of agents to assist buyers will their real estate needs. These agents will make the job of renting an investment property a smooth and efficient process. All paperwork will be handled in a professional manner and all financial negotiations completed with the highest degree of skill.
The company's downtown Jersey City office is located just minutes away from Mandalay, allowing the team to be readily available upon request. With several additional offices in prime Hudson County locations, Liberty Realty agents have a solid understanding of the local real estate market. Liberty is on target to complete over 1,000 residential rentals within Hudson County in 2008, specifically in Jersey City and Hoboken.
Mandalay is a condominium conversion and homes can be purchased 'as is' or with a standard package including hardwood floors. Kitchen and bathroom upgrades are also available and include European style cabinetry, granite countertops and stainless steel appliances. Mandalay also features a heated outdoor pool on the Hudson waterfront that is surrounded by gardens and picnic and barbeque areas set against a backdrop of the Manhattan skyline. The pool is accessible from the Residents' Club, which is perfect for special events or smaller gatherings, or to watch sports on the plasma television screen in front of the fireplace. Another popular feature is the convenience of a 24-hour concierge and valet service for dry cleaning and repairs. Residents also have access to a fully equipped fitness and exercise area, while the outdoor playground and promenade along the riverfront, which surrounds the perimeter of the community, is ideal for walkers and joggers alike.
Within walking distance of Mandalay on the Hudson are two PATH stations, two ferry terminals and the New Jersey Transit Hudson-Bergen Light Rail, which transport riders to Manhattan, Hoboken, Bayonne and other cities along New Jersey's dynamic Gold Coast. With transportation so close, the work and leisure opportunities of New York City are easily accessible to Mandalay residents. In addition, Jersey City's dramatically revitalized downtown, complete with trendy restaurants and clubs, is only three blocks away. The nearby Newport Centre Mall offers 140 businesses and stores.
For more information on investment opportunities at Mandalay on the Hudson, visit the sales center at 20 Second St., Jersey City, N. J.; call a sales representative at 866-OWN MANDALAY; or visit the Web site at http://www.mandalayonthehudson.com.
The sales office is open from 10 a. m. to 5 p. m. during the week, and 11 a.m. to 5 p. m. on weekends. Evening hours are available on Tuesday and Thursday until 8 p.m.
About The Pinnacle Companies: The Pinnacle Companies, which includes Pinnacle Communities, Pinnacle Custom and Pinnacle Downtown, is among the most respected real estate development and investment companies in the industry for their ability to anticipate trends in the changing real estate market and create "what's next" in luxury residential communities. Pinnacle's innovative approach to development and creative problem-solving abilities are qualities that continually position Pinnacle as an industry leader in the real estate market. The award-winning company has built an enviable reputation in the sale and rental of luxury, active-adult and custom housing, as well as the office, retail and mixed-use markets. Since the company's founding in 1984, Pinnacle has built in excess of 4,500 luxury attached and detached homes as well as several million square feet of retail, hotel and restaurant space. For more information on Pinnacle, visit www.pinnaclecompanies.net or contact the company's Chatham headquarters at 973-379-1900.
©2010 All rights reserved. Pinnacle Tower Urban Renewal LLC. Pursuant to N.J.A.C. 5:26-10.3, the purpose of this advertisement is to solicit non-binding reservations. The non-binding reservation is not a contract and may be cancelled by the prospective purchaser at any time without cause, and in the event of cancellation the prospective purchaser shall receive a full refund of the deposit from the developer. All features and amenities are subject to change without notice.