Stasse & Company Sells Out The Heldrich in New Brunswick - Seventeen Homes Sold In Past 12 Months

Stasse & Company, a Princeton, N.J.-based real estate sales and marketing firm, has announced the sellout of the luxury condominiums at The Residences at The Heldrich in downtown New Brunswick. Seventeen homes were sold between February 2009 and the end of January 2010. The Residences at The Heldrich, located in the heart of New Brunswick at George Street and Livingston Avenue,

consists of 48 luxury condominium homes adjacent to the Heldrich Hotel, with access to the hotel's exclusive facilities and lifestyle, including concierge service, room service, private dining rooms, catering, fully equipped fitness center with indoor pool, valet parking and housekeeping services. There are also two restaurants and a lounge.

Stasse & Company prides itself on being one of the few real estate firms with the capability to manage both sales and marketing for new homebuilders. The firm's responsibilities include the hiring, training and management of the sales team; management of the marketing campaign; and consultation on the design of and specifications for the new home product.

The sales effort at the The Heldrich was successful over the past year despite a decision to do very little in terms of advertising. The firm set a goal to sell out all residences in 2009, a goal they fell just short of, selling all but one of the remaining homes in just 13 months despite the downturn in the real estate market.

Jay Goldberg, managing partner, attributes their success to aggressive follow-up with past prospects and brokers, strategic use of the multiple listing service and the developer's flexibility with the pricing structure.

"We were able to mirror the same sales pace The Heldrich had going in 2007 and 2008 in the most difficult real estate market in recent history," he said. "I told my team, 'We can sell out by end of 2009 if we aggressively market and price these homes for this market landscape.' We wanted to retain the highest possible value and still allow room for fair price negotiation. In the end, those who purchased from us got a great home at a great value and our client was able to sell out in a very challenging market."

The Heldrich is just one of the successful projects in Stasse & Company's portfolio. In addition, they represent Canco Lofts in Jersey City, N.J. which last year accounted for nearly 50 percent of the city's new construction sales, and two high-end luxury projects: Trump Plaza Residences in Jersey City and The Residences at Palmer Square in Princeton.

Stasse & Company also offers a full range of capabilities on the construction, land selection and architectural side of residential real estate development, including architectural review of exteriors and interiors; product review of material selections, fixtures and finishes; amenity package critique and full-scale marketing, advertising and public relations programming.

At The Residences at The Heldrich, the sales pace represents an incredible ratio of sales to visitors. In the past year, there were 17 sales from only 57 new prospects, a sales ratio of one sale for every three visitors. The national average for ratio of sales to visitors is one sale for every 20 visitors, according to Goldberg.

"We worked extra hard and used very targeted measures to convert our traffic into sales knowing that this very specific, yet sophisticated product type would not bring in a high velocity of walk-in visitors," he said.

Alice Yale, sales manager at The Heldrich, noted that sales were enhanced by the natural appeal of the community coupled with the cachet of grand-hotel living, which allowed buyers to immediately fall in love with these homes and the lifestyle they offered.

Private, reserved underground parking with access through a secure residents-only lobby with private elevators is available for the exclusive use of the owners.

The Residences at The Heldrich is in the heart of New Brunswick's lively theater and restaurant district, steps away from Rutgers University and less than an hour from Manhattan by train. The city is also rich in sports, cultural and dining opportunities with the famous State Theatre and several world-class, award-winning restaurants within walking distance of residents' front doors.

Also nearby are clubs, bars and several art galleries, including those at the Mason Gross School of the Arts at Rutgers and the Zimmerli Art Museum, also at Rutgers. Other attractions of the area include golf courses, three performing arts centers and the Rutgers championship football and basketball teams.

For more information on Stasse & Company, please contact Jay Goldberg at 609-730-9900.