First Closings Take Place at The Preserve at Matawan
Phase I of Popular Condominium Community Is 55 Percent Sold Out
MATAWAN, N.J. - American Properties Realty has announced that the first closings have recently taken place at The Preserve at Matawan, its premier condominium community in the northern Monmouth County Borough of Matawan.
Phase I of the community, which consists of 40 homes, is already 55 percent sold after only eight months and Phase II was released for sale in April.
The community has proven to be extraordinarily popular with buyers, with the unprecedented demand fueled by low interest rates, federal tax incentives for first-time buyers and competitive pricing, said Paul Csik, Iselin-N.J.-based American’s senior vice president for sales and marketing.
Prices for the amenities-filled two-bedroom, two-bath homes start at $269,990.
"We are experiencing tremendous demand," Csik said. "Buyers recognize that this is the time to buy. All the stars are aligned -- interest rates are at 40-year lows, the federal government is offering a once-in-a-lifetime tax credit for first-time buyers and today’s prices are very affordable. They don’t want to miss out on an extraordinary opportunity."
Buyers are also attracted by the well thought-out layouts and spacious ambiance of these luxurious homes, which are highlighted in the three beautifully decorated models that provide prospective buyers with ideas on furniture layouts, color palettes, finishes and other design options.
The Preserve is named after the lush 10-acre wooded preserve that the new community backs up to, complete with babbling brook. The Preserve is comprised of seven distinct three-story buildings and one two-story building with 157 residences featuring two bedrooms, two bathrooms and up to 1,635 square feet of living space.
"The very special setting, which offers both suburban convenience and the peace and quiet of rural woodland, holds great appeal for buyers," Csik said. "The location is ideal for commuters to New York, who can reach the city in under an hour, but who also want proximity to the nearby beach and the luxury of modern living in a suburban setting."
Also fueling demand are financial incentives that include a federal tax credit for first-time buyers of up to $8,000 and the fact that the community has recently received FHA approval, allowing buyers to put as little as 3.5 percent down with an interest rate as low as 5 percent (see sales associate for details).
The FHA approval also means that mortgages can be obtained with lower-than-usual credit scores (see sales associate for details), Csik said. FHA mortgages thus provide prospective buyers with the opportunity to purchase homes that might otherwise have been out of their price range or unavailable due to a less-than-perfect credit rating.
Buyers can apply for FHA mortgages through JPMorgan Chase & Co., American Properties Realty’s preferred lender.
All of the condominium homes are equipped with desirable features such as Formica laminate countertops in the kitchens and master bathrooms, Kitchen Craft 42-inch oak cabinetry, soaring 9-foot ceilings, Dal ceramic tile in the master bathrooms, security systems with intercoms and private balconies or terraces.
In addition to spacious layouts, quality finishes and amazing pricing, The Preserve also offers a great location close to shopping and dining, outstanding public schools and mass transit and major highways. Both New York City and the New Jersey shore are easily accessible, offering the best of both worlds.
The development is located less than two miles from the Aberdeen-Matawan Train Station. In addition, there is a NJ Transit bus stop in front of the community. The Preserve is also just minutes from a number of major highways, including the Garden State Parkway and Routes 9, 34, 35 and 36.
The sales office is located at 111 Sloan Court in Matawan and is open daily (except Thursdays) from 10 a. m. to 5 p. m. Take the Garden State Parkway south to exit 123. Follow Route 9 south for 2.5 miles. Take the left lane exit for Route 34 south and follow for 4.3 miles. Turn right onto Main Street/Route 79 south. Continue on Route 79 south. The Preserve at Matawan is approximately seven-tenths of a mile on the left. For more information, call 732-970-4779 or visit www.americanproperties.net.
About American Properties Realty
American Properties Realty is an award-winning home-building organization based in Iselin, N.J., and is committed to earning the trust of each and every family who calls its communities "home." American Properties Realty and its affiliated companies have created over 15,000 homes: from luxury single-family estates to master-planned communities of apartments, condominiums and townhomes. These award-winning communities have delivered the dream of affordable and luxury housing to thousands of residents in New Jersey. Its residential communities have an unsurpassed reputation for quality craftsmanship and extraordinary value.
