It's outrageous that these people got permits to build such energy wasteful buildings. I thought we were trying to reduce our depedence on foreign oil.

Those floor to ceiling windows at 50 Columbus sound like a nice feature, but if people renting there had given the matter more thought, of course it's going to be a heating and cooling nightmare.

the release says 300 of 400 units leased and 200 people moved in. that said, i don't trust anyone - particularly PR flacks and real estate people.
can't say i've noticed 200 more residents walking around.

The operative question here, dear readers, is: 75% of what? Dimes to dollars that this PR newswire dispatch conveniently left out the key phrase "of units offered for sale (so far)." This smells of classic developer propaganda by trying to build momentum by failing to disclose the total supply (and thereby hyping the demand for one small slice of the pie.)

No particular axe to grind with 50 Columbus, but everyone out there should be aware that most rental/condo developers parcel out blocks of units in a new building for the express purpose of manipulating the demand/supply equation in their favor.

50 Columbus Luxury Rental Building Suprasses 75% Leased In downtown Jersey City

http://www.prweb.com/releases/50/Columbus/prweb613081.htm

50 Columbus is more than 75% leased as renters are quickly snapping up the new luxury rental residences located in the heart of Jersey City, N.J.'s vibrant downtown district. More than 300 upscale residences have been rented in less than four months in the striking 36-story residential tower which features 400 premium homes and an elaborate amenity offering adjacent to the recently-renovated Grove Street PATH Station.

Jersey City, NJ (PRWEB) January 10, 2008 -- 50 Columbus is more than 75% leased as renters are quickly snapping up the new luxury rental residences located in the heart of Jersey City, N.J.'s vibrant downtown district.

The extraordinary pace of leasing activity certainly validates that. It also underscores the tremendous value offered here.
More than 300 upscale residences have already been rented in the striking 36-story residential tower which features 400 premium homes and an elaborate amenity offering adjacent to the recently-renovated Grove Street PATH Station.

The impressive leasing milestone was accomplished less than four months after 50 Columbus opened to the public, according to hApplied Development Company and Panepinto Properties, the joint venture partners developing the building.

In addition, more than 200 residents have already moved in.

"We were confident that 50 Columbus would appeal to sophisticated, discerning professionals seeking luxury high-rise living and resort-like amenities amidst the exciting ambiance of Jersey City," notes David Barry, President of Applied Development Company. "The extraordinary pace of leasing activity certainly validates that. It also underscores the tremendous value offered here."

Designed by world-renowned architect Costas Kondylis, with interiors by celebrated designer Andres Escobar, the building is notable for a soaring, 24-hour-attended lobby with 19-foot ceilings, floor-to-ceiling glass, a professional concierge and a unique water feature.

"Residents also enjoy an upscale, hotel-like recreational experience stemming from a full-floor amenities space that includes a lounge, theater/screening room, card and billiard rooms, children's play area and business center," points out Stephanie Panepinto, a principal of Panepinto Properties.

"A private landscaped rooftop deck features a swimming pool, cabanas, BBQ area and tennis court. In addition, the on-site Club H Fitness Center and Spa offers state-of-the-art fitness equipment, a Juice Bar with an expansive menu, nutritional advisors and Personal Trainers. There's also the convenience of an enclosed parking garage."

A wide mix of elegantly-designed floor plans is available at 50 Columbus, ranging from studios to three-bedroom residences - including eight lavish duplex townhomes -- at monthly rents starting at $1,825. The homes enjoy an abundance of natural light, as well as spectacular views of the Manhattan skyline, the Hudson River, the Statue of Liberty and New York Harbor.

Gourmet kitchens offer sleek Euro-style cabinets with Richelieu hardware in brushed nickel, antique pearl quartz countertops and Whirlpool and GE appliances. Lavish bathrooms feature walnut vanities with Carrera marble vanity tops, ceramic tile floors, white running bond ceramic tile walls and polished chrome fixtures. All homes have wood flooring in living areas and carpeted bedrooms.

The Marketing Directors, Inc. is the building's marketing and exclusive leasing agent.

For more information on 50 Columbus, visit the on-site leasing and model center, located at 50 Christopher Columbus Drive, Jersey City; call (201) 434-2700 or visit the website at www.50columbus.com.

About the Developers:

Panepinto Properties was founded in 1977 when Joseph A. Panepinto recognized the dormant opportunities and wealth of potential in Jersey City. Since then, the company has distinguished itself as a pioneer in outstanding commercial, residential and mixed-use developments throughout the City. Panepinto Properties' impressive portfolio includes (completed and to be built) 3 million square feet of office space, more than 3,000 units of luxury rental housing and more than 130,000 square feet of retail space.

Applied Development Company has a 30-year history of focusing on the redevelopment and revitalization of New Jersey's urban centers. Applied and its principals have developed thousands of residential units and hundreds of thousands of square feet of commercial space throughout New Jersey; the company continues to own and manage the overwhelming majority of this portfolio. In addition, Applied is currently engaged in the active development of over $1 billion of residential and commercial real estate.