Case Study: 801 Palisade – Union City, NJ

With sprawling views of the New York City skyline, spacious open floor plans, and luxurious, high-end unit finishes, Malas Builders Corp’s 801 Palisade condominium in Union City, NJ presented buyers with a unique opportunity to purchase a home in one of northern New Jersey’s next hot markets. The four-story, 18-unit building boasts an ideal location near New York City in the low-$600s price point making it significantly lower than similar buildings in pricier neighboring areas.

The Challenges

  • Union City did not have the prominence or visibility of trendier nearby destinations such as Hoboken and Jersey City.
  • The targeted purchase price of the residences would set a new record for price-per-square-foot within Union City.
  • Union City’s high local taxes and the economic uncertainty presented by the impending national presidential election could potentially dissuade buyers looking to purchase once the building was completed.

The Strategy

  • CB New Homes created an attractive website that highlighted the location, finishes and breathtaking panoramic city skyline views at 801 Palisade.
  • Our team utilized a persuasive visual marketing campaign with onsite signage to create a strong sense of place and upscale living.
  • To generate a sense of exclusivity prospective buyers were encouraged to join the VIP list on the website. After being vetted by the local sales team, individual appointments and building tour were set for qualified prospects. Only after the VIP list was exhausted were the residences list in the MLS and open to the general public.

The Result

  • Our ability to properly position the building and market it to the right audiences led to new sales records for the area and proved that the Union City marketplace could compete with more well-known destinations nearby.
  • Our creativity drove an average sellout price of over $625K and set a new price-per-square-foot record for Union City at $660/psf.

Click to Hide Advanced Floating Content