NEW BRUNSWICK-Upscale rentals and penthouse condominiums are drawing strong early response at downtown New Brunswick’s The Vue, a building that offers walkway access to the train station close by.
About 25% of the 150 rental residences have been leased and ten penthouse condominium homes have been sold in the first three months, according to the New Brunswick Development Corp. Pennrose Properties is a partner with DEVCO in developing the complex.
Jacqueline Urgo, president of The Marketing Directors, Inc., which is handling both leasing and sales, tells GlobeSt.com, “The building is finding its market with a rare offering of both condominium and rental residences that appeals to people with different lifestyle needs and requirements. The development represents the continued evolution of New Brunswick from a collegiate center to a more rounded and sophisticated downtown location.”
The residences at The Vue are situated on the upper floors of a 23-story building next to Rutgers University, which offers retail and commercial space, plus a 657-space parking garage on the first eight stories.
The 42 penthouse condos are located on the uppermost three floors of New Brunswick’s new tallest building, which provides skyline and Raritan River views. One- and two-bedroom condominium homes at The Vue range in size from 773 to 1,216 square feet and prices start at $277,000.
Rentals are also available in one- and two-bedroom configurations. The apartments have hardwood floors in living and dining rooms, gourmet, stainless steel GE Energy Star appliances, and in-home washer and dryers. Monthly rents start at $1,800.
A full-scale Barnes & Noble book store and a Brother Jimmy’s BBQ restaurant will anchor 57,000 square feet of retail space.
The building is connected from its location at Somerset Street and Easton Avenue in the heart of downtown via a covered and lighted walkway to the train station, which offers express service into Manhattan and Philadelphia.
The Vue has partnered with Verizon Virtual Concierge service to provide residents with the ability to remotely manage dining and building event reservations, and obtain service from local venders.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
