Jersey City American Can Co. Condo Conversion launches sales

Canco – Iconic Development is Jersey City’s Largest Single-Building Industrial-to-Residential Conversion –
Canco Lofts, the condominium conversion of Jersey City’s landmark American Can Co. factory, has announced the commencement of sales for the first 101 condominiums available in Phase I. Canco Lofts has been open for tours and previews to the public over the past few months, generating an outpouring of buyer interest with several thousand people having visited the eclectic Canco Lofts Sales Center.
Once completed, Canco Lofts -- Jersey City’s largest single-building industrial-to-residential conversion at one million square feet -- will house 551 authentic loft residences as well as 10,000 square-feet of lifestyle amenities, a signature mediateque lobby designed by the renowned Manhattan-based architectural studio LOT-EK and an onsite parking garage.

“We have already experienced heavy demand for the residences at Canco Lofts – the conversion of one of Jersey City’s most well-known landmark structures -- as this development is the only residence of its kind in Jersey City offering authentic loft residences and progressive architectural design,” stated Edward Yorukoff, director of Marketing for Canco Lofts. “Buyers who want to purchase a distinctive condominium unlike any other in the New York metropolitan area will find their perfect fit at Canco Lofts.”

Over 80 percent of the residences in Phase I at Canco Lofts are already under reservation before sales have even started, a testament to the unique architecture and competitive pricing that characterizes this iconic Jersey City condo conversion.

Construction is well underway at Canco Lofts, with delivery for the residences in Phase I scheduled for summer of 2008. Phase 2, which consists of the 101 condominium residences in the building’s third tower, is expected to be delivered in the fall of 2008.

Canco Lofts is the first development in what will be a newly revitalized neighborhood on Jersey City’s West End. In addition to the conversion of the American Can Co. building, two parcels of land adjacent to the building’s site have been approved for conversion from industrial to residential use.

“Canco Lofts will set a new standard for architectural distinction and urban lifestyle-enhancing amenities for today’s residential development,” stated Mr. Yorukoff. “Additionally, the revitalization of this building and adjacent properties signals the start of a new and vibrant neighborhood for Jersey City in an area that was for year underutilized.”

Canco Lofts developer Coalco New York is retaining and renovating the building’s key industrial elements, including its intricate art deco façade, grand-scaled windows and soaring ceiling heights that range from 14 feet to over 27 feet in the building’s prized two-level penthouse residences.

One-, two-, and three-bedroom true loft designs will feature exposed slab ceilings; eight-foot doors; wide plank, white oak floors; bold mushroom-capped columns and energy-efficient double-paned windows that provide panoramic views of Jersey City and Manhattan’s bustling cityscape. Loft prices range from $350,000 to $850,000.

Kitchens are outfitted with gleaming white-lacquered cabinetry, architectural backsplashes, engineered stone countertops, undermounted sinks, task lighting and integrated appliances including stainless steel gas ranges, concealed microwaves, dishwashers and refrigerators.

Bathrooms feature oversized showers, added-depth soaking tubs, white Caesarstone vanity tops, Italian tile floors and cove lighting that streams down walls of imported glass mosaic tile.

The approximately 10,000-square-foot Canco Lofts Residents’ Club will house a full-size fitness center with cardio and weight training equipment as well as a studio for yoga and Pilates and a half-basketball court. A children’s play center, screening room, pet park and pet spa, game room for billiards and video games and an event room with outside terrace complete the community. Residents will also be just a short elevator ride away from their cars within an easily accessible heated garage.

Conveniently located near the Journal Square PATH station, Canco Lofts offers immediate access to both downtown and midtown Manhattan. Residents will also have shuttle service from Canco Lofts to the Journal Square Path station.

Canco Lofts is located at 50 Dey Street in Jersey City, N. J. For more information about Canco Lofts visit www.cancolofts.com. To schedule an appointment to tour the Sales Center and model residences, call (201) 876-8686.