GRAND OPENING AUCTION OF 20 LUXURY CONDOMINIUMS IN RUTHERFORD, NJ ON NOVEMBER 20TH
8 Residences To Be Sold “Absolute” Regardless of Price – Condos are Just Minutes from Manhattan
NEW YORK, NY – October 29, 2010 – (RealEstateRama) — Sheldon Good and Company, a Racebrook Portfolio Company and America’s leading real estate auctioneer, will auction a selection of 20 luxury residences located at The Gate Condominium, a newly constructed state-of-the-art building in The Bergen County borough of Rutherford, New Jersey on Saturday, November 20th with 8 to be sold “Absolute,” regardless of price.
The Gate Condominium is a luxury development in northern New Jersey just minutes from Manhattan and within walking distance to NJ Transit buses and trains. Originally priced to $579,000, the one and two bedroom / one and two bath units will be released at suggested opening bids as low as $145,000.
“Since this is a ‘Grand Opening Auction,’ buyers will have the unique opportunity to bid on and purchase a home in a beautiful, brand new luxury building at their desired price,” said Jeff Hubbard, Executive Managing Director of Sheldon Good & Company.
This auction presents a prime opportunity for both end-users and investors to buy into state of the art design and construction with the convenience of having easy access to Manhattan, as well as business centers in northern and central New Jersey. In addition to a host of modern conveniences, the condos have thoughtful, modern finishes that will appeal to the discerning buyer including, beautiful hardwood floors, high ceilings, GE stainless steel appliances, granite countertops, and large private balconies.
“Now more than ever before developers around the country are utilizing the auction process as a strategic part of their overall marketing plan at various stages of the development process. The developer of The Gate is utilizing the process in order to sell out all 20 units available in a single day, eliminating the carry costs associated with a conventional sales program, while passing along those savings to the consumer,” said Hubbard.
The Gate development is located at 17 Meadow Road, just one block from the 190 bus and the Rutherford Station on the New Jersey Transit Bergen Line with direct train access to midtown Manhattan. Rutherford is centrally located 8 miles west of New York City, 12 miles from Newark International Airport, 2 miles from the NJ Turnpike and 4 miles from the Garden State Parkway. It’s in close proximity to 7 major hospitals, 15 houses of worship and several parks.
Residents enjoy many recreational activities in Rutherford. Located on the Passaic River, the Nereid Boat Club is one of New York City’s only calm water rowing sites. In addition, the downtown area offers a variety of cultural and entertainment opportunities, including dining, shopping concerts and shows at the Williams Center for the Arts, as well as close proximity to The Meadowlands Sports Complex.
Interested buyers can view the available homes and furnished model residences during pre-auction Open Houses on Saturdays and Sundays from 11am to 2pm starting October 23rd and 24th and every weekend up until the November 20th auction.
The auction will take place on Saturday, November 20th, at the Hilton Hasbrouck Heights Hotel, 650 Terrace Ave., Hasbrouck Heights, New Jersey. Registration will begin at 12:00 noon, and the auction will start at 1:00 pm.
For more information on the auction and to view the available homes at pre-auction open houses, call 212-213-9770, email auctionrequest (at) sheldongood (dot) com or visit www.thegateauction.com.
ABOUT SHELDON GOOD & COMPANY
Sheldon Good & Company is America’s Real Estate Auctioneer. As the nation’s leading provider of strategic marketing and structured accelerated sales solutions, the firm has a 45-year track record of proven results, has sold billions of dollars worth of properties in every real estate asset class, and has the highest closing ratio in the industry.
Sheldon Good & Company is a Racebrook Portfolio Company, part of a family of enterprises offering a wide range of services in the special situation and opportunistic real estate sector that include: advisory and consulting services; acquisition, investment and disposition capabilities; and workout and restructuring services. The firm’s headquarters are based in New York City, with primary offices in Chicago, Miami, Denver, Los Angeles, San Francisco and other strategic locations nationwide.
MEDIA INQUIRIES
Michael Tavani, M18 Co. | T: 212 604 0318 E: michael (at) m18co (dot) com
