About Paramount Homes

June 22, 2005

North Beach Asbury Park Sells Out The Barcelona

Sales for Seville Units Begin Wednesday, July 6

Asbury Park, New Jersey – Paramount Homes, developer of the condominium community North Beach Asbury Park, first on the waterfront, reported that is has sold all 48 homes in its residential building, The Barcelona, in less than a month. One-bedroom, two-bedroom and town home units are now in contract at prices ranging from $450,000 to $1.1 million. The North Beach Information Center at 1601 Ocean Avenue opened for VIP sales on Wednesday, June 1.


Caption: On Wednesday, June 29, Paramount Homes transformed the Asbury Park waterfront’s landscape within hours. That’s when a 20-truck convoy from Clayton Concrete came to North Beach Asbury Park on Ocean Avenue for the first of 8“Super Pours” – laying the concrete foundation for the condominium community’s 157 homes. The concrete they delivered measures out to 100 truckloads, and stretches out to 1,000 yards. And, because it’s Asbury Park’s largest concrete pour in decades, even the news media got excited; Paramount Homes’ director of development, Lara Schwager, was interviewed by New Jersey 12, WCBS-AM Newsradio 88, the Asbury Park Press and others.

Just within the month of June, North Beach Asbury Park has sold nearly one-third of the 162 condominiums that the Multiple Listing Service (MLS) reports were sold in Asbury Park from January 2004 through June 2, 2005. With all 157 North Beach Asbury Park homes expected to sell out, Paramount Homes, which has the City by the Sea’s only available waterfront block, should easily match that 18-month volume with higher per-home prices.

“It’s a phenomenal response,” said Carolyn Villani, vice president, sales and marketing, Paramount Homes. “North Beach’s first buyers have proved that the demand to be ‘first’ in the waterfront revitalization is very real. We’re succeeding at bringing in people who want to be here, and who want to be part of Asbury Park’s new Golden Era.”

With Barcelona sales completed, Paramount Homes will open sales to the next group on the VIP list for The Seville, a more intimate building with closer beachside access and views.

Those appointments will begin on Wednesday, July 6. Registration can be made through the website www.NorthBeachAsbury.com. Potential buyers on the VIP list can also use the site to make appointments for the third North Beach building, The Monterey.

According to Villani, Paramount Homes is going to great lengths to ensure that each North Beach buyer is treated with fairness and has the full attention of the staff.

“The entire experience was very positive,” said Glenn Potolsky, 37, of Hoboken, an investment banking firm analyst, and his wife Suzette, a talent agent, who bought a second home at the Barcelona. “Paramount demonstrated the attention to customer service I look for when dealing with such a major purchase. With new construction, I recognize how difficult it could be to manage the needs of multiple buyers at the same time. I found the people at North Beach to be very accommodating. I had specific scheduling needs, and they made every effort to help me.”

The rapid progress of new home sales at North Beach proves that Asbury Park’s ambitious waterfront revitalization project is moving along. To satisfy high demand for the waterfront residences, Paramount Homes is in pre-planning stages to build future phases of the North Beach community.

As the only condominium community being sold with direct beach access, North Beach Asbury Park is also part of the City by the Sea’s best summer in decades. Waterfront master developer Asbury Partners, LLC reported that more daily beach passes were sold on one day of Memorial Day Weekend 2005 than for all of summer 2004. This comes on top of 15% increases in beach and boardwalk revenues for the past two years, led by a totally renovated boardwalk. Improvements for 2005 include more than 15 new stores, restaurants and amusements.

Registration to schedule appointments for The Seville and The Monterey homes at North Beach Asbury Park can be made through the website, www.NorthBeachAsbury.com.