Tarragon doing well in Edgewater

7/10/2008:

Tarragon’s publicity company sent Hoboken411 this press release yesterday. Figured I’d give them the opportunity to spread the good news about their Edgewater development.

One Hudson Park 90% Sold

edgewater-one-hudson-park-tarragon-hoboken.jpgEdgewater’s Only High-Rise Condominium Almost Sold Out
EDGEWATER, N. J. (July 9, 2008) – Tarragon Corp.’s new condominium development, One Hudson Park in Edgewater along New Jersey’s desirable Gold Coast, is now more than 90 percent sold.

Nearly all of the one-, two- and three-bedroom homes in the distinct luxury residential tower are sold, and only a handful of penthouses remain. One Hudson Park has been selling steadily since its first residents moved in in May 2007.

“One Hudson Park offers its residents spacious living areas and high-end amenities, including an indoor lap pool and a fully furnished rooftop deck, with incredible views of the Manhattan skyline,” said William Rosato, president of Tarragon Development Corp. “Sales have continued to stay strong because of the building’s convenient location, modern architecture and impeccable finishes.”

Located on River Road, these ultra-spacious condominium homes boast highly sought-after features such as gracious foyers, expansive floor-to-ceiling windows and corner living and dining rooms. Separate gourmet kitchens and sleek stone baths offer a level of contemporary elegance found in only the finest new condominiums. All residences are equipped with washer/dryers and exceptional closet space. Dramatic glass- and steel-trimmed balconies play host to sweeping New York City skyline views.

The increased sales are also attributed to favorable interest rates and a change in attitude among buyers, many of whom have decided to move forward after waiting for months on the sidelines, Rosato added.

One Hudson Park houses an array of amenities including its 50-foot indoor lap pool, a fitness center and yoga studio, a children’s playroom and a board room for private business or quiet study. Other luxury features include a 24-hour attended lobby, deeded parking, and a media lounge with catering kitchen. There also is a Tarragon-built public park adjacent to the building. For more information on One Hudson Park, please visit www.onehudsonpark.com.

About Tarragon Corporation:
Tarragon Corporation [TARR] is a leading developer of multi-family housing for rent and for sale. The company’s operations are concentrated in the Northeast, Florida, Texas and Tennessee. To learn more about Tarragon Corp., visit the Web site at www.tarragoncorp.com.

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12 Comments on "Tarragon doing well in Edgewater"


matt_72
Member
7 years 11 months ago

Tarragon recived a notice of default and had $42.9mm in loans accelerated by one of their lenders. As they will likely be filing for bankrupcty in the near term if this default isn’t cured, anyone want to bet they won’t be living up to any of the empty promises they made the city? We granted all sorts of variances for the buildings Tarragon has ALREADY BUILT and now we will get none of the promisied benefits. At least the mayor got his $1mm in campaign contributions.

Journey
Member
Journey
8 years 2 months ago

[quote comment=”93435″]Surprised no one’s talking about this bogus website from Tarragon’s BS ad in the Hoboken Reporter last weekend:

http://www.hobokencommunitycenter.com/

It’s basically trying to use the community center to blackmail the city into giving them what they want (i.e. even more free reign to print money).[/quote]

I like the “Contact The Mayor and Council” link and it canned message.

[quote]I am writing today to support Tarragon/URSA joint venture’s plan to
build a Community Center and pool in Hoboken’s west end. Both have
been promised to Hoboken residents for years, and it is time that
promise is fulfilled.
A Community Center, pool, and two parks will provide much needed
recreational space for Hoboken, and will benefit all residents.
And Tarragon/URSA joint venture’s plan will turn polluted,
industrial land into a clean, safe space.
This plan has been put off for too long. I hope you will support
the building of the Hoboken Community Center.
Thank you. [/quote]

beamrider9
Member
beamrider9
8 years 2 months ago

Surprised no one’s talking about this bogus website from Tarragon’s BS ad in the Hoboken Reporter last weekend:

http://www.hobokencommunitycenter.com/

It’s basically trying to use the community center to blackmail the city into giving them what they want (i.e. even more free reign to print money).

It’s funny how they copy/pasted stuff in their “Get the Facts” section directly from hobokenparks.org, and even funnier how they inadvertently put their foot in their mouth:

[quote]
MYTH: Instead of a park… Much of the ‘green’ is on rooftops and in landscaped building perimeters along the light rail line.

TRUTH: This statement is completely false. While building plans call for rooftop terraces, not a single one of these count towards the over 4 acres of open space on the ground.
[/quote]

OK, so the rooftops thing isn’t true. But the part about most of the “green” being landscaped building perimeters? Yeah, seems like that’s probably true.

matt_72
Member
8 years 2 months ago

[quote comment=”92449″]Percentage of completion accounting is common in construction… But yes, it is subject to abuse.

As for seeking outside money… It would have to be equity or some sort of convertible issue.[/quote]

I don’t think that is likely with almost a billion of secured debt ahead of any new money and a market cap of under $40mm. I bet even that secured debt doesn’t all trade at par……

YuppieSteve
Member
YuppieSteve
8 years 2 months ago

Percentage of completion accounting is common in construction… But yes, it is subject to abuse.

As for seeking outside money… It would have to be equity or some sort of convertible issue.

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