JBarb and Herb Kenny of Chester thought that both the time and the market were right to invest in real estate for their young adult daughters.

Malorie Kenny, a 24-year-old teacher in New York City, had been living in Jersey City for two years. Her younger sister, Brittany, 22, got a teaching job in the city as well.

"I have two daughters who said they would love to live together," Barb Kenny said. "They were ripe and ready and the location in Jersey City was a good one. And we did it for an investment for ourselves. Living in the city is my dream, and Jersey City is on the rise."

In May, the Kenny parents closed on a two-bedroom, two-bath condo in Mandalay on the Hudson, a condo conversion project with spectacular views right on the Jersey City waterfront. The real estate is in the parents' name, and the daughters pay rent that almost covers the mortgage.

"They're in a nicer area than they would be on their own," said Kenny. "To a certain extent, you could say we're spoiling them, but not really. We wanted to make an investment anyway. If the time wasn't right, we wouldn't have done it."

For more information, visit the sales center at 20 Second Street, Jersey City, call a sales representative at (866) OWN MANDALAY, or visit the Web site at 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.

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. In 2006, The Pinnacle Companies were featured on an episode of "Extreme Makeover: Home Edition" for ABC Television in the town of Bergenfield.

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 5,000 luxury attached and detached homes as well as significant retail, hotel, and restaurant development.

For more information on Pinnacle, visit www.pinnaclecompanies.net or contact the company's Chatham headquarters at (973) 379-1900.