MORE THAN 1,000 PEOPLE ATTEND THE GRAND OPENING OF 40 PARK IN DOWNTOWN MORRISTOWN

Anxious buyers crowding the Concierge Level at 40 Park before taking tours of the new condo building

MORRISTOWN, N.J – The calendar may have read 2010, but to the more than 1,000 people who attended the Grand Opening of 40 Park recently, it felt a lot more like 1983.

Not since the days of using lotteries to pre-sell townhomes out of a hotel ballroom has the marketplace witnessed such an enormous turn-out for a residential property like the one that occurred in downtown Morristown, NJ.

It certainly couldn’t happen during a real estate slowdown when single-digit visitors to a new community in a week have become the norm. But happen it did as anxious buyers, long lines, crowded models and a sense of urgency were the story of the day in Morristown.

“That was the most extraordinary experience of my 32-year career in real estate and one that I will never forget,” said Lewis Zlotnick, President of Woodmont Properties, which is jointly developing the much-publicized 76-home community overlooking the Morristown Green with Roseland Property Company.

Debra Tantleff, a Vice President of Roseland Property Company, added “We were optimistically expecting between 400 and 500 people, but never in our wildest imaginations did we think we’d top 1,000 in a four-hour time period. I don’t know what it says about the market in general as I’ve never seen a response even remotely similar to this one. What I do know is that it speaks volumes about the interest in 40 Park. Incredibly, we celebrated going vertical with construction here just 15 months ago and are already closing our first homes, but the public has been clamoring for this one-of-a-kind lifestyle opportunity for more than two years, and clearly that pent-up demand manifested itself in the massive turn-out we saw on Sunday.

“People just kept arriving and the crowd really didn’t start to subside until the end of the four-hour event,” adds Ms. Tantleff. “I think the sheer number of people masked the intimacy of the community, but buyers clearly got a feel for the building’s remarkable living spaces which are unlike anything they’ve ever seen, as well as the unique lifestyle opportunity stemming largely from being located in the center of town just steps from all that downtown Morristown has to offer. It was definitely a day to remember and one for the real estate record books.”

Prospective buyers began lining up at the outdoor piazza entrance well before the noon opening, walking the red carpet through paparazzi which helped define the Model Grand Opening Event’s Movie Premiere theme: “Models Unleashed”. It didn’t take long to realize, however, that the marketing strategy had become the reality as throngs of people continued to pour in, anxious for their first glimpse of the distinctive building’s furnished Penthouse and Signature model homes.

Crowding the elegant Concierge Level, guests were escorted to the 6th-floor Penthouse model to experience the home’s spectacular views and luxurious sized rooms including a dramatic open living room, dining room and kitchen area; two bedrooms, a den, 2 ½ baths, a traditional entry foyer and an expansive 650 square-foot terrace offering sensational outdoor living by maximizing the beautiful views of the Morristown Green.

From there it was down to the 2nd floor for a tour of the Signature model which captivated people with its expansive 2,490 square feet of single-level living featuring two bedrooms, a den, formal dining room, large study, eat-in kitchen and a huge Great Room/living area overlooking the Morristown Green. A truly unique octagonal shaped gallery offers a distinctive showcase space and leads to the home’s living areas.

The first-hand 40 Park experience culminated with an all-day catered gathering in the elegantly-designed 40 Park Center, a private amenity floor for homeowners featuring a billiard table, media lounge with fireplace and large flat screen TVs; catering kitchen and cozy bar seating, and fully-equipped, state-of-the-art fitness center – all of which leads out to private garage parking.

40 Park’s amazing residences include a wide variety of one-, two- and three-bedroom floorplans. These limited edition homes are priced from the mid-$400,000s to more than $1 million for the Signature Residences and from $1 million to $2.2 million for the custom designed penthouses. The penthouses include up to 3,200 square feet of living space and provide extraordinary private terraces of up to 1,800 square feet of fabulous outdoor living space not offered anywhere else in the area. Penthouse buyers have the unique opportunity to work with the building architect to custom design their own penthouse. Only a few residences remain in certain locations and prices.

Found throughout the homes, depending on the plan, are such upscale features and appointments as 9’-plus ceiling heights, solid hardwood floors, spacious kitchens with granite countertops and stainless-steel appliances, polished marble floors and countertops with undermount sinks in the master and secondary baths, and balconies with decorative railings and architectural bay windows.

High-end, boutique retailers and restaurants will complement the downtown, pedestrian-friendly setting of the centrally-located community. A short walk to NJ Transit’s direct train line to New York City puts Manhattan at your door step. Morristown is a great place to live, work, play, dine and entertain without the need to drive.

For more information on the grand opening of 40 Park, please call (973-359-0010), or visit the community’s newly-remodeled website at http://www.40park.com which highlights the luxury condominium’s unique lifestyle offering. 40 Park’s new onsite Sales Center, located in an eye-popping Penthouse home, is open seven days a week from 10 a.m. to 6 p.m. and is located at 40 West Park Place, Morristown, NJ 07960.
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