CLIFFSIDE PARK, NJ, September 5, 2019– A prominent financial institution is backing One Park in Cliffside Park, NJ in a newsworthy manner.
Developer DMG Investments announced today it has closed a $64 million inventory loan for the 14-story luxury condominium building through AIG. The loan is the second financing secured with AIG for One Park, coming on the heels of a $71.6 million construction loan in 2017.
The important milestone is noteworthy on multiple fronts. It speaks to the confidence the financial community has in One Park, and the willingness of a major lender to work again with DMG Investments is testament to the company’s trusted brand and reputation for developing high quality projects in both the multi-family and student housing sectors.
“The ability to secure and inventory loan at One Park during a period when interest rates are favorable its financial strength and plays a key role in our company’s nation-wide investment strategy and long-term vision,” says Jacky He, CEO of Manhattan-based DMG Investments. “Of course, it’s equally as notable for homebuyers. The strong belief in DMG Investments and One Park by a leading financial institution is surely a comforting notion for our purchasers.”
One Park, which was completed in fall 2018, is situated high atop the historic Palisades Cliffs overlooking the Hudson River and New York City skyline. Its one-of-a-kind location maximizes the building’s dramatic views, world-class architecture, inspiring amenities and proximity to Manhattan and the vibrant Hudson River waterfront. Designed by Architectura, with interiors curated by boutique design firm, VLDG, One Park boasts a glass curtain wall and private outdoor space for every home.
One Park features a collection of 204 well-appointed one-to-four-bedroom homes which range from 751 to 2,983 square-feet of elegant living space. The homes are priced from the $475,000 and available for immediate occupancy.
Interior spaces boast expansive kitchens with chef-caliber appliances, the finest fixtures, and breathtaking views. Bedroom suites are calm sanctuaries for rest and relaxation, with floor-to-ceiling windows flooding the space with light. Spa-inspired master bathrooms are adorned with a freestanding sculpted tub, large open shower, porcelain flooring and richly-toned wall tiles.
More than 25,000 square feet of hotel-inspired indoor and outdoor amenities at One Park include Aquatic Center featuring an indoor 55-foot heated pool with sauna and steam rooms, and adjoining outdoor sun deck; private furnished roof deck including dining terrace with grilling stations, fire pits, intimate seating areas and outdoor movie theater. There’s also a state-of-the-art fitness center with private pilates room, squash court, golf simulator, children’s playroom, pet spa and guest suites. The building also offers a 24-hour attended doorman and secure parking garage with a fully-automated Unitronics system. Also expected is a resident’s-only shuttle bus directly into midtown Manhattan.
One Park’s Cliffside Park location has long attracted those commuting to New York City for business and pleasure who appreciate its proximity to the George Washington Bridge and Lincoln Tunnel. The one square-mile Borough of Cliffside Park also enjoys a diverse dining and shopping scene. The main thoroughfare, Anderson Avenue, or “The Avenue” as it is affectionately referred to, is lined with boutique stores and shops, while an eclectic offering of dining, shopping and waterfront recreational and nightlife pursuits are just minutes away in Edgewater, Weehawken, North Bergen and Hoboken.
Three model homes are open at One Park, providing visitors the opportunity to see first-hand its elegant and sophisticated housing styles. For additional information on One Park, and to tour the building and model, please call 201-633-7600 or visit www.OneParkCondosNJ.com. One Park is located at 320 Adolphus Avenue.
About DMG Investments
Headquartered in New York City at 100 Wall Street, DMG Investments LLC (“DMG”) was established in 2013 as the US subsidiary of DoThink Holding Group, a well-known real estate developer in China.
DMG focuses on real estate acquisitions, development and management as well as financing. Leveraging the expertise of a team of dedicated real estate professionals with decades of experience creating and adding value for investors, DMG has amassed a portfolio of best-in-class assets across the US in dynamic markets in New York, New Jersey, Texas, Tennessee, Wisconsin, and South Carolina.
As the portfolio continues to grow, DMG is dedicated to providing amenities and services that enhance the livability of each project be it in the student housing, traditional multifamily or condominium sector. In the years to come, the goal of DMG is to become a global real estate enterprise with a world-class reputation for sustainable development and a business philosophy that emphasizes the importance of delivering value for investors, owners and residents.