PUBLIC RESPONDS TO THE VUE IN DOWNTOWN NEW BRUNSWICK BY SNAPPING UP NEW CONDOS AND RENTALS AT A HEIGHTENED PACE
NEW BRUNSWICK, N.J. – May 31, 2012 – (RealEstateRama) — The developers of The Vue in downtown New Brunswick have successfully found their market, selling more than 40% of the building’s upscale Penthouse condominiums and leasing 60% of its luxury rental residences since the beginning of the year.
The strong activity was particularly evident in April when an impressive seven condominiums were sold and 22 residences were leased, according to the New Brunswick Development Corporation (DEVCO) and Pennrose Properties, which developed The Vue and retained The Marketing Directors, Inc. as the building’s exclusive sales, leasing and marketing agent.
Additional activity at the property includes the completion of the expansive, landscaped pedestrian walkway connecting The Vue to the westbound train platform of the Northeast Corridor Line at the New Brunswick Train station which will open to the public following New Jersey Transit approval, as well as the expected summer/fall opening of the Barnes & Noble Bookstore located at street level within The Vue and the Fresh Grocer supermarket situated across the street.
Located at 110 Somerset Street, the striking new 23-story mixed-use building features 150 luxury rental homes and 42 Penthouse condominiums on the building’s prime upper floors. Residents are already enjoying all that The Vue has to offer, including spacious homes with upscale finishes and appointments, an impressive amenity offering, direct walkway access to the New Brunswick Train Station and a desirable location in the heart of downtown New Brunswick.
“We knew there was pent-up demand in New Brunswick for an upscale downtown address that offered commuter convenience, high-end amenities and services and proximity to retail, cultural and nightlife attractions,” says Christopher J. Paladino, President of DEVCO.
“That we sold and leased so many residences in such a short amount of time provides dramatic evidence that the marketplace will respond favorably and aggressively when such a unique and desirable opportunity arises.”
The tallest building in the City of New Brunswick, The Vue is ideally situated on Somerset Street and Easton Avenue. In addition to the residences, the building will house 57,000 square-feet of retail space in its first two stories, including a full-scale Barnes & Noble bookstore and a Brother Jimmy’s BBQ restaurant, as well as a 657-space parking garage. The Vue is also located next to Rutgers University and is a short walk to all the entertainment and cultural attractions of New Brunswick.
“The Vue combines with a number of other significant initiatives underway in the area to fulfill New Brunswick’s potential as a truly vibrant, livable city,” says Tim Henkel, Senior Vice President of Pennrose Properties.
One- and two-bedroom condominium homes at The Vue range in size from 773 to 1,216 square feet of living space and are currently priced from $315,000. The Vue also offers a mix of one- and two-bedroom rental homes with myriad upscale features. Monthly rents for these residences start at $1,935.
“Resort-like amenities include an attended, custom designed lobby; fully-equipped fitness center and residents-only lounge featuring a billiards table, flat screen televisions, WiFi business bar and a catering kitchen and conference room,” notes Jacqueline Urgo, President of The Marketing Directors, Inc. “The Vue has also partnered with Verizon’s Virtual Concierge service to provide residents with additional services such as dining and building event reservations, and the ability to manage local venders (i.e. dry cleaner, florist, housekeeping service, etc.) remotely.
Designed by Manhattan-based Meltzer/Mandl Architects, PC, the building’s exterior is notable for its multi-toned red brick and white façade and distinguishing exterior
“R-U-T-G-E-R-S” clock above the street level entrance to the Barnes & Noble College Bookstore. Additional retail and commercial space already secured at the building include offices for the New Brunswick Parking Authority and a Starbucks, while Wellness Plaza, which will include The Fresh Grocer, the first full-service supermarket in New Brunswick in more than a generation, is currently under construction across the street and slated to open in November, 2012.
For additional information on The Vue, please call 732-828-0111 or visit www.TheVueNJ.com. The building is located at 110 Somerset Street, New Brunswick, NJ. The onsite sales and leasing office is open Monday thru Friday from 10:00am to 6:00pm and Saturday and Sunday from 11:00am to 6:00pm. Furnished model residences are available for viewing.
