Tag Archives: Long Branch NJ

55 MELROSE OFFERS FIRST OWNERSHIP OPPORTUNITIES AT PIER VILLAGE OCEANFRONT COMMUNITY IN LONG BRANCH

55 Melrose ExteriorNew Condominiums offer Luxury, Lifestyle and Value

LONG BRANCH, NJ – Sales have launched for the first luxury condominium building at Pier Village, the premier Jersey Shore lifestyle destination located along the oceanfront in Long Branch, NJ.

Representing the first ownership opportunity at the award-winning, mixed-use community comprised of residences, retail and restaurants, 55 Melrose features 44 modern condominium homes located in a contemporary four-story building.

“Pier Village has grown into an iconic, Jersey Shore destination that appeals to families and people of all ages who appreciate its oceanfront setting, mix of casual and elegant restaurants, numerous boutique shops, nighttime venues and endless outdoor events and activities,” notes Greg Russo, a principal of Ironstate Development, which developed the $400 million community that also offers the celebrated Bungalow Hotel and Le Club beach club.

“While the community’s rental residences have consistently been well-received by the public, we’ve always been aware of the demand from buyers for ownership opportunities at Pier Village.  We’re delighted to now answer that demand with 55 Melrose.”

55 Melrose Livingroom_b_11255 Melrose features a limited collection of one-, two- and three-bedroom condominium homes ranging from 766 to 1,648 square feet of living space, with immediate occupancy available.  Priced from $310,000, the residences include such designer features and appointments as oak hardwood flooring in the living areas, plush Berber carpeting in the bedrooms, and gourmet kitchens with custom wood white shaker cabinets, Caesarstone countertops, modern stain glass backsplashes and state-of-the-art stainless steel Frigidaire Gallery appliances.  Spa-like baths are adorned with Silestone countertops, custom wood white shaker cabinets and wood framed mirrors, ceramic tile floors and contemporary Kohler undermounted sinks and faucets.

All residences also include desirable outdoor living space.

“55 Melrose represents a unique offering as Pier Village is already an established year-round residential and lifestyle destination, but until now, there were no ownership opportunities available,” notes Jacqueline Urgo, President of The Marketing Directors, the community’s exclusive marketing and sales agent.  “The new residences feature upscale living spaces with finishes and appointments that not only reflect a level one would expect in a luxury condominium property, but also complement Pier Village’s spectacular oceanfront setting.”

Lifestyle is a big part of the appeal of living at Pier Village, and Ironstate Development is making sure that 55 Melrose buyers are able to enjoy everything the community offers. In addition to on-site parking and access to the Pier Village outdoor pool and resident’s lounge with billiards, buyers at 55 Melrose will receive a complimentary two-year gym membership to the Pier Village Gold’s Gym, and a complimentary two-year membership to Le Club, Pier Village’s members-only, European-inspired beach club. Le Club features a full-service beach experience including a private beach area adorned with Palm trees and lined with spacious cabanas, provision of lounge chairs, day beds and plush towels; food and beverage service on the beach provided by gourmet braserie, Avenue; and a rooftop pool and sun deck boasting panoramic vistas of the ocean.

Pier Village also offers more than 100,000 square feet of boutique shops and restaurants, a boardwalk and expansive beach, oceanfront dining and an outdoor festival plaza that hosts year-round events. Travel & Leisure Magazine named it one of the “20 Greatest American Beaches” in 2007 and the community was again honored in 2009 with the New Jersey Governor’s Tourism Award.

For more information on 55 Melrose, visit www.ownpiervillage.com, or call 732-222-2155. The Sales Office, located at 55 Melrose Terrace, is open Monday – Friday from 10am – 6pm, and Saturday – Sunday from 11am – 5pm.

For more information on Pier Village, visit www.piervillage.com.

###

About Ironstate Development Company

Ironstate Development is one of the largest privately held real estate development companies in the Northeast. Based in Hoboken, New Jersey, Ironstate engages in the development and management of large-scale mixed-use projects and has a diverse portfolio of apartments and hotels valued at several billion dollars. The Company’s multi-family portfolio comprises an extensive range of apartments, condominiums and retail and recreational spaces in key urban centers near mass transportation hubs, while its hospitality holdings include the W Hoboken Hotel along the Hudson River waterfront facing Manhattan and the Standard East Village in Manhattan with partner Andre Balazs. Ironstate has approximately $1 billion in the development pipeline, including the redevelopment of the former U.S. Naval Base on the waterfront in Staten Island, NY.  Additional information on Ironstate Development Company is available on the Company’s website at www.ironstate.net

About The Marketing Directors

The Marketing Directors is a development advisory and master property marketing and sales force that works exclusively on behalf of owners and builders of new homes. Headquartered in New York, with offices and sales teams active around North America, The Marketing Directors is known for its success in selling and leasing homes at prices that help its clients achieve their goals for each development. In its 30+ year history, The Marketing Directors has helped its clients successfully sell-out more than 1,000 new developments across the country – more than any other marketing firm. It is headed by founder Adrienne Albert and Jacqueline Urgo. www.themarketingdirectorsinc.com


New Jersey Condo Market Heats Up as Demand Surges

NY TIMES

 

 

The New York Times “Square Feet” features Ironstate Development’s Pier Village and 55 Melrose in Long Branch! Read it HERE!


20th Annual Polar Bear Plunge in Long Branch raises funds for Special Olympics

APP Polar

Photo from APP.COM

Check out this news segment from PIX11 about the 20th Annual Polar Bear Plunge held at Pier Village in Long Branch this past weekend!

Click HERE to watch!


Developers Unveil Third Phase of Pier Village to Public

Developer says project could begin in January, 2013

By Christopher Sheldon/Long Branch PATCH

PIER VILLAGE (Photo: Shannon Booth)

After years of talks between the developer and the city, the third phase of Pier Village is on the verge of becoming a reality.

Applied Development, the developer of Pier Village, presented the revamped project to the Long Branch Council on Tuesday night, including pictures and details of the final phase of the oceanfront residential and retail property.

Applied Development originally showed the plans to the council in 2010, but after recommendations from the city, the group altered the design. The Long Branch Planning Board approved it the same year, but will need to approve the revised plan for the project to move forward.

Applied Development architect Tom Bauer said the third phase of Pier Village will be located south of the existing area.

That space, which is bordered by Melrose Terrace and Morris Avenue, is currently a partially-paved parking area that is used primarily in the summer for overflow parking from Pier Village.

The third phase of Pier Village, if approved, would include an expanded boardwalk, a new hotel, parking, an acre of public space, and retail and residential space.

The public space would include a small stage, a small play area for children, canopy-style umbrellas and a carousel.

Bauer said the existing bathhouse at the end of Morris Avenue would be demolished and be replaced by two structures that would house restrooms and concessions and another where beach badges will be sold.

The project will be broken into two phases, Bauer explained.

He said the first phase will include the expansion of the boardwalk, and construction of the hotel, along with most of the residential and retail space. It will also include reconfiguring Ocean Avenue so that it will have one northbound lane and one southbound lane that will wrap around the public space. Morris Avenue would also see some changes, including a circle that would help ease traffic onto the street from Ocean Avenue.

The second phase will include the remainder of the residential and retail space along with the construction of a large, underground parking garage that will be accessible from Morris Avenue.

Bauer said the new structures will look similar to those used in the first and second phases of Pier Village, and will contain boardwalk areas throughout the space. He said every housing unit will have some type of outdoor space as well.

He said he believes the project will be a “tremendous draw” for the area.

Councilman John Pallone asked about the timing of the project.

Bauer said if the council and planning board gives Applied Development the OK to move forward with the project, that construction of the first phase could begin in January, 2013. The second phase of the project would begin 15-18 months later, around Labor Day in 2014.

The planning board is expected to review the site plan next month and the council will review the plans in more detail and hold a public presentation at the May 8 council meeting.

Check back later today to see plans of the third phase of Pier Village.


New Jersey’s Real Estate ICONS

The Garden States commercial real estate business has a long and vast history and an even brighter future.

Neither, however, would be possible without the efforts of individuals who helped shape—and continue to influence—the market. Here’s a look at some of the people who have become regional household names in the industry.

By Sarah Wolfe/ Real Estate FORUM

DAVID BARRY

It’s said there wouldn’t be a Hoboken without the Barry family. After all, that’s where, in 1970, brothers Joseph and Walter Barry founded Applied Housing Co. and embarked on revitalization projects that cemented the firm’s reputation as an innovative large-scale urban developer.

Some 30 years after Applied’s founding, brothers David and Michael Barry continued that legacy, forming Ironstate Development, which owns and manages more that 6,000 residential units with $1 billion in projects in the pipeline. As co-president (with Michael) of both Applied and Ironstate, its development arm, Barry has spearheaded some of the state’s largest revitalization projects, including the Shipyard and W Hoboken Hotel & Residences in Hoboken; Port Liberte in Jersey City; and Pier Village in Long Branch, now in its third phase. Barry is also a member fo the boards of the New Jersey Apartment Association and Fortress Investment Group LLC, a global investment manager with an estimated $40 billion in assets as of 2010.


Bronze plaque honors Mary Todd Lincoln in Long Branch

via APP.COM

Long Branch Mayor, Adam Schneider, left, unveils a bronze plaque along Centennial Ave. in Pier Village marking the 150th anniversary of the visit in Long Branch of First Lady Mary Todd Lincoln, which put Long Branch on the map for the rich and famous and kicked off the city’s so-called Gilded Age. The project is a joint venture by the local historical society and the city to begin marking all the significant historical locations in the city. The bronze plaque marks the location of the Mansion House, one of the city’s long ago grand hotels. Monday, August 22, 2011. STAFF PHOTOGRAPHER/MARY FRANK – LONG BRANCH – NEWS – 08/22/11. / MARY FRANK

READ MORE >>>


High marks for Pier Village

Via APP.COM

By CAROL GORGA WILLIAMS

Festival Plaza along Ocean Ave. BY MARY FRANK/STAFF PHOTOGRAPHER

LONG BRANCH — Crack houses, a rat-infested water slide and boarded up arcades. This was the setting where the Pier Village retail and residential complex was built in a city that had endured decades of decline.

And while the complex — the first to be built in the most recent spate of oceanfront redevelopment projects — is readied for its third and final stage, the community last week observed the fifth anniversary of the first phase with nary a hiccup.

Nonetheless, the impact on the city has been substantial, and officials foresee Phase 3 providing additional, significant benefits.

Merchants and city leaders say Pier Village has succeeded in extending the city’s tourism season, part of a long-term plan to shift the local economy to a year-round one. It is also credited with sharply increasing beach revenues, from $200,000 before Pier Village to a record-breaking $1.2 million in 2010, a figure that was surpassed this year by the end of July.

Also, the increases in tax assessments on the development property are virtually astronomical. And the jobs produced by the 13 or so restaurants, 16 boutiques, hotel and beach club has brought substantial disposable income into the city, said business leaders

“As Pier Village gets bigger, it is going to be adding assets to the city that aren’t there now,” said Mayor Adam Schneider.

“We think it has more than delivered,” said Gregory R. Russo of the Hoboken-based developer Applied Development Co.

Schneider said the final phase includes plans for adding 50 percent more retail space on the parcel that draws tourists from other parts of New Jersey and from New York and Pennsylvania. It is marketed as an upscale version of the Jersey Shore experience, complete with a luxury hotel and gourmet restaurants.

But Pier Village also contains very basic eateries like a pizza parlor and a hot dog stand; supporters say the mixture of price points allows the complex to be accessible to people with varying incomes.

“In this one little area, there was so much to do. I also felt safe because you didn’t have to go miles away” to eat or shop, said Reve Anderko. “Everything was right outside your front door.”

Anderko came from Bethlehem, Pa., two years ago to take a job in the area and thought Pier Village was about as good as it got in terms of area rentals.

She also supports the conceptual plan for Phase 3, noting her apartment often plays host to family visitors, particularly in the summer.

Pier Village Phase 3 is planned as a “family-friendly” area that will house a carousel, possibly miniature golf and some sort of arcade operation similar to the restaurants that also offer games and entertainment.

“It would make sense and it would definitely fit in an area such as this,” said Anderko, adding that she likes the city’s plan to rebuild its oceanfront pier as well.

Pier Village stands as a beacon to other potential investors, Schneider said.

“It sends a message that even in a tough economy, Long Branch is still a place where work is going on,” said Schneider.

While officials proceed with redevelopment plans, they acknowledge they are not likely to see developers coming in to do major projects any longer. In the wake of the eminent domain backlash, developers would have more difficulty and likely more expense assembling large pieces of property for redevelopment.

Brendan Ward, 27, has lived at Pier Village for about a year. A runner, he works part-time at The Sneaker Factory as he works toward a graduate degree in social work.

Ward said that even though it is often seen as a haven for upscale boutiques, he finds a sense of community there, among the residents and those who work in the shops.

But it is not perfect.

“There is that sense of community, but sometimes it feels like a bubble,” said Ward. “If there was one thing I would wish for, it would be to alleviate that bubble” and find a way to spread a Pier Village combination of community and retail success into the city’s downtown and along Broadway, he said.

In 2006, Pier Village received the project of the year award from the Urban Land Institute. In 2007, it was named one of 20 great American beaches by Travel & Leisure Magazine and in 2009, it received the governor’s tourism award.

Melanie Rowbotham, 21, a Monmouth University senior who hails from Sussex County, won the on-campus lottery that helps decide which students will be eligible to live in some of the 30 or so units the school reserves at Pier Village.

The English/elementary education major stayed there with three roommates her junior year as well and took advantage of her 11-month lease to spend the summer at the beach. Not a bad arrangement, she said, laughing.

She is thinking of staying at Pier Village if she gets a job in the region. Right now, she doesn’t even mind paying the extra money for the nearly-year round access to the beach, the ocean and the complex pool.

“It’s summer on the beach. It is definitely worth it,” she said.

Pier Village is not without its detractors. There have been objections to the use of eminent domain for the project and complaints of more traffic.

Monmouth University Professor John Buzza, a business instructor who monitors the local hospitality industry, said the development still is too costly for locals to embrace, although it has helped the city recover.

“I think Pier Village is a godsend and people are looking to emulate it in all these urban areas,” Buzza added.

“Before Pier Village came in, I thought it was a great idea,” said Dennis Sherman, who heads Save Ocean Avenue, a group whose goal is to ensure that other areas of the oceanfront and boardwalk are not ignored. “It would go a long way toward improving conditions in the area, and it did.”

However, as an economic engine, it has been a disappointment, he said.

“The tax-abatement program, we thought it would help taxes go down, and taxes went up,” said Sherman.

Esther Cohen, president of the Greater Long Branch Chamber of Commerce, believes Pier Village has produced an eight-month tourism season.

“Look at Deal, Allenhurst, Loch Arbor or Long Beach Island in October: The (traffic) lights are blinking yellow,” she said.

Not so in Long Branch, where if visitors didn’t know about Pier Village when they arrived, they discover it before they leave.

“It is a destination within a destination and in creating that destination … They also recreated the destination of Long Branch,” Cohen said.

PIER VILLAGE PHASE 3

The project, which already has received site-plan approval from the city Planning Board and approval from the City Council, acting as the city’s Redevelopment Agency, includes space for a second, larger hotel, condominiums and 40,000 square feet of retail space, said developer Gregory R. Russo.
Infrastructure improvements, roadwork and utilities, for example, should begin this fall, continue until the start of the 2012 summer season, and resume the following fall for partial occupancy by Memorial Day 2013.

Phase 3 is intended to be “family-friendly,” with a carousel, possible miniature golf course and some form of arcade.

Developers also proposed an enlargement and expansion of the boardwalk in certain areas to give shoppers the sense that they are actually on the boards, when they make their purchases, recalling more traditional boardwalk set-ups.

Tax assessments on the Pier Village property totaled $6.67 million in 2005, before construction started.

In 2007, the land and the improvements were assessed at $84.4 million. That same year, Pier Village paid $485,818 in taxes, an abated figure. By 2011, the project was subject to full taxes, except for the Sirena and Avenue restaurants, which become eligible in 2012. Officials are considering whether Phase 3 will receive a tax abatement.

Phase 1: 320 rental apartments and 100,000 square feet of retail space; occupancy complete in August 2006.

Phase 2: 216 apartments, 1,800 square feet of retail and a 24-unit hotel; construction completed in 12 months with the hotel called The Bungalow opening in 2009.

Phase 3: 70-room hotel, 320 condominiums and 40,000-square feet of retail; to be ready by Memorial Day 2013. No construction planned for summer 2012 season.


%d bloggers like this: