Archive for category Fort Lee
As I sit here thinking about retirement, I can only wonder if I have made the right investment choices throughout my working career. Is investing in IRA’s and contributing to my companies 401K plan going to be enough? Is it too late to look at investing in real estate as a source of income after I retire?
If I purchase a condo or co-op now, it would likely take me 15 years to pay it off. That would be just in time for me to retire. Depending on my purchase price, and the condition of the area that I purchase in, I could likely get $2000 a month in rental fees.
With the money coming in from my fort lee rentals, plus my retirement benefits, I think I could just barely squeek by. Keeping in mind, I would need to put away 10% of the monthly rent I receive from a tenant, and put it towards maintenance and upgrades to my property.
Now, granted, my investment property isn’t going to be anything like those new Bergen County luxury buildings that are going up in Fort Lee. If I would have invested properly from the time I was in my early 20’s, maybe my retirement benefits could get me a year at The Modern in Fort Lee. That place is like a luxury vacation rental. I was checking it out, and am impressed with the how they incorporated all of the exterior amenities into the cost of the apartment.
Modern luxury apartments
Just in case you are unaware, The Modern is a brand new luxury hi-rise at 800 Park Ave in Fort Lee. The 47 story glass tower offers studio, 1-, 2-, and 3-bedroom apartments for rent. The apartments have open floor plans with 9 ft ceilings, floor-to-ceiling windows (with solar shades), white oak hardwood floors, large kitchens with stainless steel appliances and quartz countertops.
As if the units are luxurious enough, the benefit package you get will astound you. Starting with the interior amenities, you have a resident lounge with 2 large screen TV’s, a mini movie theater, a golf simulator (which I don’t understand), and a fitness center with spin bikes, Life fitness equipment and free weights.
Outdoors they have a swimming pool, a playground for kids, basketball and volleyball courts, and a large green lawn with a giant screen tv.
Studio apartment rentals start around $2400, 1-bedrooms for just under $2900, and a 2-bedroom will cost you a minimum of $3990 per month.
How many years have you lived in New York or New Jersey? How long has it been since you redecorated your house or apartment? I don’t know about you, but when it comes to interior design, I would have no clue what looks good and what looks gaudy.
Since my wife studied architecture in college, I rely on her to give our place the kind of modern look that she feels comfortable with. Just in case you need to do some renovating or redecorating, I looked up a few architect companies in the Fort Lee, NJ area that might be able to help you with your Fort Lee, NJ apartments.
The first one I found was Mirek Lewandowski. With over 18 years of experience in architectural and interior design, he has plenty of experience to help you with your project. Licensed to practice in New Jersey, New York and Pennsylvania, his office is in Sussex NJ. His firm has many good references at homeadvisor.com.
The second firm I looked at is William G. Severino Architect. They are located in Bergen County, NJ.They work on both commercial and residential projects. They can build you a new home from the ground up or give you an addition/renovation to your current home. They use the latest in materials and procedures to give you an energy efficient and sustainable solution.
One of their current renovation projects is a five story, 30,000 sqft warehouse, and an adjacent three story, 5,000 sqft warehouse. Commercial spaces will be on the ground floor and the basement, and 15 residential apartment units on the upper floors. The renovation includes exterior upgrades, complete interior renovations with new vertical circulation systems, electrical, & plumbing.
George Hodosh Associates is an architect firm with over 25 years of experience in design and construction management. Specializing in residential and commercial additions and alterations, as well as, interior design and construction supervision.
Number 4 on my list is GARY SEGAL ARCHITECT, LLC. Specializing in unique new construction, smart and functional renovations, and creative interior design for single family homes. Gary Segal has over 25 years of architecural experience. With a design philosophy focusing on the successful combination of aesthetics and functionality. He is well known for his ability to combine the comforts of modern design with “old world” European style using environmentally friendly methods and materials.
The fifth architect company I found is Elkus Manfredi Architects. This is an architectural firm working out of Boston, Massachusetts. Currently they are working on a 47 Story Glass Tower in Fort Lee, New Jersey called The Modern. This a luxury building that is the home of Fort Lee, NJ apartments. You can check out the link to the communities website at rentthemodern.com if you would like to see a sample of their work.
If you live in New York or New Jersey, check out any one of these companies and I am sure you will be satisfied with their results.