New Luxury Building Passes 30% Sold Mark

STATEN ISLAND, N.Y, August 7, 2012 – The first buyers who purchased new condominium residences at The Pointe on Staten Island’s north shore waterfront have begun moving in, adding a new level of activity and excitement at the luxury building which is already more than 30% sold.

Several closings have now taken place at The Pointe, which features a collection of 57 one and two-bedroom residences, desirable outdoor space, spectacular views of the St. George waterfront and Manhattan skyline and a commuter-friendly location just steps from the Staten Island Ferry Terminal.

The homes are attractively priced from the $300,000s, with immediate occupancy available.

The new residents run the gamut of buyer types — from current renters looking to move up to homeownership to empty-nesters interested in a more manageable, maintenance-free lifestyle, according to Meadow Partners, the international real estate investor and asset manager which hired the Marketing Directors, Inc. to launch sales at the 155 Bay Street building in spring, 2012.

“Welcoming our first homeowners is an exciting and important milestone as it adds life and energy to the building while also providing new buyers with an added level of confidence in their new home purchase,” notes Jacqueline Urgo, President of The Marketing Directors, Inc.

“The availability of immediate occupancy allows us to quickly move buyers from purchase to move in, an advantage that has gained favor with the public, particularly renters who are ready to make the move to home ownership. We’re excited about the momentum we’re experiencing and believe it will continue as more residents move in and more buyers visit the building.”

Much of the success of The Pointe can be attributed to its convenient location just steps from the Staten Island Ferry Terminal and a value-laden price point that has all but disappeared from New York City’s new construction marketplace.

Also resonating with buyers is the renewed interest and reinvestment in the Pointe’s St. St. George location — known as the “gateway” to Staten Island — and adjacent north shore waterfront neighborhoods.

While a number of cultural and recreational attractions already exist, including the St. George Theater and Staten Island Institute of Arts & Sciences (SIIAS); the waterfront Richmond County Bank Ballpark which is home to New York Yankees’ class A minor league team; the St. George Historic District; the Staten Island Children’s Museum and the Staten Island Botanical Garden, a new wave of modern public amenities and services are on the way. The former U.S Navy Home Port site in nearby New Stapleton is currently being transformed into a vibrant new destination center featuring 30,000 square feet of street-level shops and restaurants and a public plaza. In addition, the City plans to invest $32 million for infrastructure improvements and construction of a new six-acre waterfront esplanade that will provide public waterfront access.

“Our buyers recognize the activity taking place in and around St. George and see an exciting future for this neighborhood,” Ms. Urgo points out. “They understand the potential appreciation in home values in what is already a wonderful community, and they’re acting on it.”

Residents of The Pointe can immediately start enjoying a lifestyle rich in luxury and comfort. The modern, six-story brick building features an elegant attended lobby, stylishly designed with marble flooring, artistic stone borders, and custom wall coverings.

Design distinction and comfort extend to the residences as well, where a variety of one- and two-bedroom homes range in size from 962 to 1,255 square feet of living space. The residences, equipped with top-of-the-line stainless steel kitchen appliances and sumptuous baths featuring high-end stone and ceramic tile, each include a full-size washer and dryer, along with abundant closet space. Hardwood floors are complemented by the exceptional palette of interior finishes. Each home also offers private outdoor space, while the building features an expansive common landscaped terrace – all of which maximize the spectacular views of the Manhattan skyline and Hudson River. Onsite garage parking is also available.

For more information on The Pointe, visit www.OwnThePointe.com, or call 718-815-0155 to make a private appointment to view the new spacious one and two bedroom homes.

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About Meadow Partners

With over 40 years of combined real estate experience, Meadow Partners brings the assurance of a reliable, well-funded ownership team that is firmly committed to the development and success of The Pointe and the redevelopment of the Staten Island waterfront. Their demonstrated talent, long-range perspective, and financial strength has set to redefine the standards of quality and excellence of North Shore living.