With inflation running at the highest rate in decades, many people are looking at ways to protect themselves and their assets from its effects. As the higher cost of living tightens consumers’ belts, historically, one asset class has proven to be one of the best investments to counter the effects of high inflation – real estate.
Specifically, real estate in a desirable metropolitan area with a high rental rate, like Jersey City. Due in part to its proximity to New York City, Jersey City has been one of the best long-term real estate investments in America over recent years, with data from Neighborhood Scout showing an average annual appreciation rate of 8% over the last decade.
Digging deeper into the Neighborhood Scout data for Jersey City, it shows that the downtown Jersey City area had the strongest appreciation rate in the city. For buyers unfamiliar with downtown Jersey City, Newport is one of the city’s most established and convenient areas.
Along Newport’s coveted waterfront is 75 Park Lane, the neighborhood’s newest condominium tower. Encompassing 358 residences, the 37-story tower was designed by the critically acclaimed architecture and interior design firm Woods Bagot. Boasting impeccable condominiums and over 20,000 square feet of stunning amenities inside and out, 75 Park Lane’s level of luxury is unsurpassed.
75 Park Lane is offering two years of HOA fees paid by the seller for a limited time. Lock in a rate now and save up to $35,000. Offer ends October 31, 2022.
With 85% of the residences sold, Newport’s most luxurious residential tower is attracting residents who desire an urban lifestyle in close proximity to all the essentials. With the rental market heating up and interest rates at historic lows compared to past decades, now is the perfect time to beat inflation and secure your luxury condominium.
Enjoy Manhattan-caliber amenities and immaculate finishes as 75 Park Lane residences contain generous, open layouts along with oversized windows that welcome natural light to create a bright and airy atmosphere. Timeless interiors feature white oak flatsawn wood flooring throughout while your premier chef’s kitchen has a Madreperola quartzite waterfall island and full height backsplash, walnut custom cabinetry, and a Bosch and Broan kitchen package. The residence’s bathrooms include glacier white quartz vanity countertops, artic white marble baths, and Kohler purist showers.
Experience the ultimate in dining in the sky lounge with unparalleled views, and a full-service kitchen, grill, and bar. Socialize in the wine tasting lounge with a private dining room, recharge in the 25-meter heated indoor lap pool, work out in the state-of-the-art fitness center, relax in the multimedia room or game room, practice at the golf simulator, or even play a round on the outdoor putting green. For younger residents, there is a special play area and for your furry family members, a dog run and pet center. 75 Park Lane truly has something for every resident to enjoy.
As Newport residents know, the convenient neighborhood hosts all amenities needed to embrace a vibrant city lifestyle while retaining the feeling of home.
From the many transit options due to being situated in close proximity to the Hoboken/NJ Transit Ferry terminal, NY Waterway Ferry, and Harborside Ferry, plus the Newport PATH, to the numerous dining and grocery options.
The local dining scene includes fantastic choices such as Battello Restaurant with its signature, modern Italian fare, and scenic views, DOMODOMO’s elevated nigiri, sushi rolls, and seafood dishes, and Lokal Eatery and Bar’s American cuisine and breathtaking views of the NYC skyline.
For those who enjoy whipping up meals in their premier chef’s kitchen, nearby grocery stores include Morton Williams, Oliva Organic, ShopRite, and Hudson Greene Market. Newport Mall’s shopping and dining options are also close by, as well as Target and Staples.
75 Park Lane’s studios currently start at $600K, one-bedrooms at $1M, two-bedrooms at $1.3M, and three-bedrooms at $2.2M. With the limited-time offer to save up to $35,000, the luxurious tower’s remaining residences will not be available for long.