The Siena at Montclair - Siena Residents Will Enjoy Easy Commute To Manhattan

Empty Nests With Lots of Room

IN THE REGION | NEW JERSEY

The New York Times

December 10. 2006-

Siena At Montclair under construction
A NEW LIFESTYLE The six-story condominium building going up in Montclair will have 101 apartments in a European style meant to evoke the town of Siena.

MONTCLAIR
As a 101-unit condominium building called the Siena takes shape in this community’s trendy shopping district, its developers say they are encountering a couple of new housing trends.
One involves empty-nesters, who seem to be less prone to downsize when relocating from the big suburban homes they may have occupied for decades, according to Brian Stolar, president of the Pinnacle Companies. Mr. Stolar’s company has joined with Kohl Partners to build the six-story Siena on a site once occupied by Hahne’s department store.

Five buyers among the 40 who have signed purchase contracts so far have pushed — and ultimately persuaded — Pinnacle to combine two or more planned Siena units into one, he said. “Our units aren’t small,” he asserted. “A typical two-bedroom is 1,500 square feet, and a typical one-bedroom is close to 1,000 square feet.

“These buyers wanted three bedrooms and/or customized designs with up to 3,000 square feet, or more if they could get it,” Mr. Stolar said. “They’re willing to pay to get exactly what they want.”

While the asking price for one-bedroom units at the Siena starts at $480,000, the largest top-floor units are priced at $1.3 million, and the combined units are also being priced in the $1 million range, he said.

“We see empty-nester buyers who are ready for a new lifestyle,” the developer added, “but not ready to give up the elbow room.”

Younger buyers like Darrell Major, 34, who plans to move into a two-bedroom, two-bath unit with his 5-year-old daughter, seem less likely to be angling for more space, Mr. Stolar said. Mr. Major, who currently owns a 3,600-square-foot home in Roxbury, said he thought the 1,800-square-foot apartment he picked out was roomy enough. “What I really care about is my view,” he explained.

When the Siena opens in late summer or early fall, Mr. Major is set to occupy an east-facing fifth-floor unit with a view of the Manhattan skyline.

According to Mr. Stolar, another trend among buyers at the Montclair project, and at Pinnacle projects in other “sophisticated urban villages” like Hoboken, Jersey City and Cliffside Park, is a growing demand for customization.

“Buyers want a very hip, high-style look that reflects the excitement of living in a vibrant community,” he said. “They want to live in a unique building with a unique look.”
Pinnacle is looking to ride the crest of this trend, Mr. Stolar said, by establishing a new division, City Custom, that will provide interior designer services for anyone buying a condominium — whether in a Pinnacle building or not.

Pinnacle Custom, headed by Michael Cantor, has won the “Best Custom Home” award from the New Jersey Builders Association for four years in a row. Its new City Custom division, focusing on condo design, is to be housed in a “showplace apartment” inside the Siena’s corner tower at the intersection of Church Street and South Park Street, Mr. Stolar said.

“Just like in New York, where people typically buy an apartment and then bring in designers to create the interior,” Mr. Stolar said, “we will be offering home buyers the same type of opportunity to customize.”

In Manhattan, he noted, some builders agree to provide minimalist interiors, finished just enough to pass inspection and ready to customize. “This can happen here too,” Mr. Stolar said.
“Buyers can arrange to get credit for as much as the builder can leave out, get a home finished as plain as possible and then work with us,” he said, “so that the day after closing we can be in there, and do exactly what they want, as fast as possible.”

At the Siena, designers came up with a distinctive style that they see as designed to reflect the mix in Montclair, a town 12 miles west of Manhattan whose 39,000 residents are known for their ethnic diversity and strong arts and cultural orientation.

Specially created ceramic panels adorn the brick and stone exterior, and inside, an “Old World/up to the minute” style prevails, according to the Pinnacle Companies’ vice president for marketing and planning, Mary Boorman.

The building is named after the Tuscan town of Siena, Ms. Boorman said, and the lobby is finished with natural stone, wood and a water wall intended to evoke the Italian namesake’s rich tradition.

The units are designed with hardwood floors, granite countertops, European cabinetry, stainless steel appliances and stone bathroom floors.

A New York Sports Club and 20,000 square feet of retail shops will occupy the street level.
Two similar Pinnacle Downtown developments now under way also have ground-level retail space. They are Maxwell Place on the Hudson in Hoboken, with 832 condominiums and 200,000 square feet of commercial and retail space, and 66 Main in Yonkers, with 170 apartments and 25,000 square feet of retail shops.

Two other Pinnacle Hudson riverfront buildings under construction are strictly residential: the Mandalay on the Hudson in Hoboken, a 25-story tower with 269 condominiums, and the Aurora over the Hudson in Cliffside Park, a two-tower all-glass complex with 131 condos.

 

Additional Pinnacle Websites :: Aurora Over the Hudson ::  Laduree ::  Mandalay On the Hudson ::  Pinnacle Communities :: 

© 2018 Pinnacle Companies, Inc. All rights reserved. *Herod Redevelopment 1 LLC. is a Pinnacle Companies and Kohl affiliate. Pursuant to N.J.A.C. 5:26-10.3, the purpose of this advertisement is to solicit non-binding reservations. The non-binding reservation is not a contract and may be cancelled by the prospective purchaser at any time, without cause and in the event of cancellation, the prospective purchaser shall receive a full refund of the deposit from the developer.
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