NORTHVALE, N.J. — Coldwell Banker has opened The Monroe and Madison Building at Paris Square, a 10-building, 111-unit active adult condominium community in Northvale, approximately 18 miles north of Manhattan.
Anne Van Dyke from Coldwell Banker Realty’s Closter/Alpine Office and Coldwell Banker Realty New Homes announced the new building’s completion, and will also lead sales and marketing efforts.
Prior to Coldwell Banker Realty New Homes’ involvement, Paris Square had undergone a 15-year construction process that had only resulted in the completion of half of its planned units. Years of no activity, a lengthy construction process and the uninspiring marketing of the completed units over its history had led to equally underwhelming sales velocity and a reputation in the local market as a community geared towards the 75-plus age group, rather than one focused on empty nesters age 50 and up.
However, a new developer, Alvin Sarter of Treuhold Capital Group, acquired the property intending to resuscitate it as a destination for active adults in northern New Jersey.
Prooject partners included local builder Ray Reduce Development, residential designer Deb Franklin, and local lenders Procida Capital and ConnectOne Bank.
Paris Square now features a range of one-, two- and three-bedroom residences ranging from 820 to 1,537 square feet.