PRG Makes Bulk Condo Purchase

PALISADES PARK, NJ-Phoenix Realty Group has announced the purchase of 71 units in the Trio high-rise condominium project here at 600 12th St. The property features two adjacent nine-story towers containing 140 units and a 200-space attached parking structure. The unsold units and parking spaces were purchased by PRG’s Metropolitan Workforce Housing Fund. These units will be offered for lease.

“The Trio is the only new construction residential property of its kind in Palisades Park and one of a few in Bergen County, an area with very little developable land,” says Steve Scioscia, PRG vice president of acquisitions. “Located just 30 minutes from Midtown Manhattan, this project is also within walking distance of schools, grocery stores, restaurants and banks–in keeping with the well-located urban housing that our funds are known for,” he adds.