Finance Articles

New Below Market-rate Mortgage Program Spurs Sales at Adams Square Luxury Condominium in Hoboken, NJ

Hoboken, NJ (PRWEB) December 7, 2007 -- A new mortgage program offering home buyers a below-market interest rate has been introduced at Adams Square, the unique collection of 59 luxury condominium residences in Hoboken, NJ (www.adamssquare.com).

The new program, which is being offered through Wells Fargo, one of the country's largest and most reputable financial services companies, offers buyers a 5 7/8, 30-year fixed interest rate -- significantly less than what is currently available in the market -- resulting in thousands of dollars in savings over the life of the mortgage.

The cost of the lower rate is being paid by Adams Square's Sponsor, R Squared Real Estate Partners (www.adamssquare.com/developer.shtml).

"We know there are buyers out there looking for new luxury condos in Hoboken, but have been waiting on the sidelines while they try to figure out the direction of the market," notes Mitchell Rechler, an R Squared Principal. "This program helps offset that uncertainty by creating considerable savings each and every month for as long as they own the home."

Those savings are what gave Aaron Zablow and his girlfriend the added confidence they needed to purchase a new home at Adams Square.

"We knew we wanted to live in Hoboken and started looking around in early summer," Aaron recalls. "We must have looked at nearly 30 different places, including Adams Square, which we really liked the best. When we came back for a second look, they had just implemented the new mortgage program. Combined with everything we already liked about Adams Square, the lower mortgage rate basically sealed the deal. It just made the most sense. There is phenomenal value at Adams Square."

The couple purchased a two-bedroom, two-bath corner home with a parking space, which they moved into last month.

"The 15-foot ceilings make the place feel much bigger," Aaron says. "We love the convenience of this area. Everything is within walking distance, including an A&P supermarket, a pharmacy, good restaurants, and a dog park for our golden retriever."

Aaron, who works on Wall Street in commercial finance, also appreciates the easy commute to the city.

The couple joins a number of other residents who have already moved into Adams Square, which combines distinctive, loft-like homes (http://www.adamssquare.com/residences.shtml) in an historic 136-year-old former school building with a location renowned for its vibrant lifestyle offerings.

The developer has masterfully blended the building's restored gothic exterior façade and upgraded common areas with 59 uniquely-designed homes featuring one bedroom plus den, two- and three-bedroom layouts. The eye-catching architecture and spacious condominium residences offer an appealing alternative to the area's conventional cookie cutter residential options.

Priced from $565,000, the homes offer the perfect balance of historic grandeur, modern amenities, and classic urban living. The building features a dramatic lobby with antique marble-clad walls and twin staircases, a beautifully-landscaped private courtyard a fully-equipped windowed fitness center, and included parking for most homes.

Found throughout the magnificently renovated residences are oversized windows, 12 ½-feet-high ceilings, solid hardwood floors, new remote-controlled air conditioning systems, kitchens with walnut-stained wood cabinetry and under-cabinet task lighting, honed Kashmir granite countertops, and upgraded stainless steel appliances; and bathrooms featuring Carrera marble vanity tops, floors and bases.

Residents also enjoy all that Hoboken has to offer, including a vibrant downtown atmosphere, classic urban charm, great public transportation, and proximity to Manhattan.

For more information on Adams Square, please call 201-795-0055, visit the website at www.adamssquare.com, or visit the sales office, located at 501 Adams Street, Hoboken, NJ 07030.

The Marketing Directors, Inc. (http://www.themarketingdirectorsinc.com) is the building's sales and exclusive marketing agent.

Contact:

George M. Cahn

President

Cahn Communications

201-876-3100

###

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