Condos making comeback in Jersey

2014-12-23_10-27-15The financial crisis brought New Jersey’s for-sale housing sector to its knees — and developers of luxury condominiums were among the hardest hit by the meltdown.

But some builders are slowly coming back to the asset class, experts say, driven by the demand for high-end units in the state’s prime locations and the sheer lack of supply after many projects were put on hold or converted to rentals during the downturn.

”The demand is unbelievable,” said Martin Brady, executive vice pres­ident of sales and leasing for The Mar­keting Directors. The New York-based real estate consulting firm has several condo assignments in North Jersey, in­cluding The M at Englewood South in Englewood and Trio in Palisades Park.

“We have open houses on Sat­urday and Sunday and it’s like the old days — we’ll have seven or eight people in the sales office at one time.”


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