HARRISON, N.J. – BNE Real Estate Group, a national real estate development organization with more than 60 years of experience, announced today that it has leased 100 percent of the residences at Water’s Edge at Harrison, its popular rental community in Hudson County, NJ.
The lease-up of the 141 studio, one-, and two-bedroom apartments at Water’s Edge comes just six months after its grand opening. The community was successful in attracting renters from day one, thanks to a combination of well-appointed rental residences, a full complement of amenities and services, and an excellent location in an emerging commuter-friendly neighborhood near the Harrison PATH station.
The success of Water’s Edge reflects BNE’s commitment to the development, investment and management of high-quality diversified real estate assets in its home state of New Jersey, and across the country.
“Going into this project, we were big believers in the Harrison market, but we knew we were going to have to create an exceptional product to compete with more established commuter neighborhoods like Hoboken and downtown Jersey City,” said Jonathan Schwartz, Executive Vice President of BNE Real Estate Group. “We set out to create a total lifestyle experience at Water’s Edge, with amenities, services and luxuriously-appointed residences, all offered at competitive prices that represented clear value. From a consumer standpoint, it was a very appealing combination. The reaction from renters was swift and sustained, allowing us to lease-up the community well ahead of our projected pace.”
The location of Water’s Edge was a significant contributor to its success. Harrison is a former industrial town that is undergoing a tremendous renaissance underscored by the numerous residential buildings under construction and a $256 million upgrade to the PATH station the Port Authority began last year. BNE Real Estate Group took maximum advantage of Harrison’s natural assets by building on the banks of the Passaic River. The community’s amenity spaces and many of its apartments feature views of the river and the Newark skyline, all just a short walk or shuttle ride away from the PATH.
Renters were also attracted to the value Water’s Edge offered, as they were able to afford spacious residences with upscale, condo-style finishes at monthly rents that would have been out of their price range in other markets.
“Getting prospective renters to visit the community was our primary marketing objective,” said Kristina Hedden, Vice President of Marketing for BNE Real Estate Group. “We knew we had a product that was capable of selling itself once renters saw just how much we were offering for their rental dollar.”
The lease-up of Water’s Edge comes at a time of tremendous growth for BNE. The developer is currently leasing luxury rental communities in Livingston and East Rutherford, following the successful lease up of properties in Jersey City and Fort Lee in 2014. Additional communities are scheduled to open this year, including a rental community in Neptune, NJ and a hotel in Hollywood Beach, Florida.
For more information on BNE Real Estate Group visit www.bnerealestate.com.
About BNE Real Estate Group
With over 60 years of real estate development experience, BNE Real Estate Group is a national, family-owned organization that is firmly committed to creating exceptional living experiences for their residents. Their distinguished portfolio of properties include the development of over tens of thousands of homes, more than 1 million square feet of commercial space, and the ownership and ongoing management of nearly 8,000 apartments, with communities stretching from the Tri-state area south to Florida, and west to Texas and California.