ROSELAND PROPERTY AND LENNAR URBAN BREAK GROUND ON NEW HENLEY ON HUDSON RIVERFRONT CONDOMINIUM IN WEEHAWKEN

WEEHAWKEN, NJ – November 7, 2011 – (RealEstateRama) — Officials from Roseland Property Company, Lennar Urban and the Township of Weehawken broke ground on a new Henley on Hudson waterfront condominium building on Nov. 1 within the Port Imperial mixed-use development in Weehawken, NJ.

Weehawken Mayor Richard F. Turner addressed the crowd of more than 50 people at the beginning of the ceremony, stating that the township’s active partnership with both Lennar and Roseland has helped economic development flourish in that part of town, to the benefit of all Weehawken residents.

“In this economy, to have any economic development at all is a tremendous accomplishment,” Mayor Turner said. “At Port Imperial, the master plan is moving along quickly. We are preserving open space, we are making long-term economic progress and we have Roseland and Lennar to thank for that.”

The new four-story, 36-residence condominium building is rising along the Hudson River waterfront and will boast spectacular Manhattan skyline views. The elegantly-designed, single-level homes will range in size from 912 to 1,722 square feet of living space at pre-construction prices starting in the $500,000s.

Initial occupancy is scheduled for May, 2013. The community’s Welcome Home Center began taking deposits on the new homes last week and a number of residences have already been sold.

The new condominium is coming to market following the sell-out of earlier phases of single-level homes, Penthouses and multi-story brownstones at Henley on Hudson. Already completed is a private 6,000 square-foot clubhouse with a club room, theater room, billiards and gaming lounge, state-of-the-art fitness center, Yoga/Pilates room, Children’s Play Studio and an outdoor, resort-style infinity pool.

Situated within Port Imperial, the 200-acre, $2 billion master-planned community that stretches two miles along the Hudson River, Henley on Hudson takes full advantage of its vibrant and convenient waterfront setting. Port Imperial’s nearby Shops at Riverwalk has evolved into a dynamic and animated riverfront destination featuring such dining, shopping and conveniences as Son Cubano, A&P, Starbucks, Gionnone Wines, Floris Nail & Spa, Ben & Jerry’s, Riverwalk Cleaners and Wells Fargo.

The location is particularly friendly for commuters, as the Port Imperial commuter ferry to Manhattan and Light Rail station are nearby, and several major highways are just a short drive away.

Carl J. Goldberg, Managing Partner of Roseland Property Company, said that although the homes at Henley on Hudson are beautiful and the amenities are exceptional, the Township of Weehawken should be commended for building and maintaining a community where people want to live.

“What is taking place here today is really a testament to the fact that people really want to live in Weehawken,” Mr. Goldberg said. “All of you should be proud of the lifestyle you have created here, making this community a desirable place to live. It is one of the reasons that we are able to sell homes here without any difficulty, many of them in excess of a million dollars. There is something very unique, special and energetic about this part of the Hudson River waterfront, and I think the views speak for themselves.”

The new development at Port Imperial will benefit not only new home buyers, but also all Weehawken residents, according to Mayor Turner. Revenue and tax ratables from the development can be used to offset property taxes. Also, approximately 40 percent of the land in Port Imperial has been set aside as open space and the developers are creating new public walkways, parks and monuments at their own expense.
“In Weehawken, we have some people who want to see nothing but development and some people who want to see nothing but open space,” Mayor Turner said. “This plan strikes the right balance. We have just the right mix of open space and development.”

The new Henley on Hudson residential building will be completed in about 18 months, with the first closings scheduled for May, 2013. With the original condo building sold-out, public anticipation and demand for new homes at the community has been high for months.

“We’re delighted to get construction underway on this beautiful day, as buyers have been waiting for a new opportunity to own a condominium home at Henley on Hudson for some time,” said Craig Klingensmith, Division President of Lennar Urban. “The first week of pre-construction sales has already resulted in a number of sales, which speaks volumes about the quality of the homes and the overall Henley on Hudson lifestyle.”

For additional information on the residences available at Henley on Hudson, please call (866) 619-8731, or visit the community’s website at www.henleyonhudson.com. The community’s onsite Sales Center is located at 21 Eton Row, Weehawken, NJ 07086.