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PUBLIC RESPONDS TO NEW MORRISTOWN RENTAL BUILDINGS WITH OVER 300 SIGNED LEASES AT TWO DOWNTOWN COMMUNITIES

Thursday, November 04, 2010 / CAHN Communications

ROSELAND PROPERTY COMPANY

 

Release Date:             November 1, 2010

Media Contact:             George M. Cahn: gcahn@cahncomm.com

                                       CAHN Communications

                                       (201) 876-3100

 

MORRISTOWN, N.J – The developers of two new luxury rental buildings in downtown Morristown, NJ have successfully found their market, leasing over 300 residences at the buildings since last year. 

The 217-unit Highlands at Morristown Station is now fully leased, while 75% of the 130 residences at the Metropolitan at 40 Park is spoken for, according to Rosewood, a joint venture of Roseland Property Company and Woodmont Properties, which developed the communities.

“The success of The Highlands at Morristown Station and The Metropolitan at 40 Park reflect the reemergence of downtown Morristown as one of the state’s most dynamic live/work/play destinations,” notes Debra Tantleff, a Vice President at Roseland Property Company, which along with Woodmont Properties has reenergized Morristown with considerable new residential and retail offerings.

 “We’ve created an enviable scenario where the public can choose from a wide assortment of living alternatives that all take full advantage of this vibrant downtown location.  The Highlands at Morristown Station is ideally located adjacent to the historic Morristown Train Station which offers direct service to midtown Manhattan, while The Metropolitan at 40 Park puts residents in the heart of downtown just steps from everything Morristown has to offer.   Both buildings provide a level of luxury, amenities, service and convenience this area hasn’t seen before, and renters have responded.”

 Part of the state’s Transit Village Program which encourages development at and around major train centers, the $72 million Highlands at Morristown Station features 217 residences in a striking five-story, elevator building that also includes nearly 6,000 square feet of private amenity space, more than 8,000 square feet of street-level retail space and a convenient six-story enclosed parking garage.

One- and two-bedroom layouts range from 661 to 1,347 square feet of living space.  Residents enjoy an outdoor heated swimming pool and landscaped plaza, a Club Room with a large screen Plasma TV and full entertainment system, billiard table and bar; a fitness center with cardio-vascular and state-of-the-art weight-lifting equipment, yoga studio, and a resident business center with a conference area, computer stations and Internet access.  The developer has already begun receiving confirmations for lease renewals.

The Metropolitan at 40 Park features 130 upscale rental residences.  Already 70% leased since opening in April, the community is the latest addition to an award-winning, urban mixed- use development that also features the highly-successful 40 Park condominiums and more than 72,000 square feet of street-level retail called The Shoppes on the Green which currently houses a new AT&T high-tech wireless retail store and will soon be home to Roots SteakHouse and Urban Table, two new restaurants scheduled to open this winter. 

The striking seven-story building overlooks a charming new outdoor piazza and is ideally situated on the Morristown Green fronting Market Street in the center of the town’s walkable retail and entertainment district.

Twenty-eight different studios, one- and two-bedroom layouts ranging from 699 to 1,292 square feet of living space are available, many offering balconies and exceptional views.  Residents also enjoy such onsite amenities as a lavish clubroom complete with a full fitness facility, game room, lounge, billiard table and conference room.  A 2,500 square-foot rooftop terrace and a landscaped interior courtyard provide ideal settings for outdoor socializing and relaxation.

Roseland Management Company, which currently manages over 6,000 residential apartments, is handling all residential maintenance and leasing duties at both buildings.

For more information on the Highlands at Morristown Station, please call 973-267-5907, or visit the website at www.highlandsatmorristownstation.com.

For more information on The Metropolitan at 40 Park, please call 973-898-3823, or visit the website at www.metropolitanat40park.com.

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About Roseland Property Company

Since 1992, Roseland Property Company and its principals have grown to become recognized as industry leaders, having developed over 40,000 high-end residential units, in addition to over 4,000 residential sales since 2004.  Roseland and Woodmont Properties have taken a lead development position in the overall redevelopment program underway in Morristown, which will ultimately result in some 526 new residences, more than 70,000 square feet of retail space and a pedestrian-friendly streetscape.   



Published by : George Cahn
George M. Cahn
President
CAHN Communications
gcahn@cahncomm.com
www.cahncommunications.com This article has been viewed 1502 time(s).

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