By Jeff Adolph
Apartments as an Investment
New Jersey - Jersey City -- One of GayRealEstate USA's gayest zip-codes is seeing investors purchasing properties, in fact, developments such as Mandalay on the Hudson have seen an increase in sales.
Situated on the Hudson waterfront, the Mandalay, a 25-story condominium development that comprises of some 269 luxury apartments is now said to be 80% sold. Many buyers have purchased more than one residence according to the sales team, as they feel that the apartments offer value for money and are a fantastic investment opportunity.
Nirlesh Jain, a financial analyst, has purchased four units and is in the process of obtaining his fifth. Jain has found that his properties are snapped up by renters looking for a quality of lifestyle, and he is seeing 'a quick return on his investment.'
"Renters are drawn to Mandalay for the same reason that I was - location," Jain said. "It's right on the river on Wall Street's doorstep, which makes it easy to rent."
The one, two and three - bedroomed apartments prices start from the low $400,000's and offer views of the Hudson River and Manhattan with floor-to-ceiling glass. Many apartments include hard-wood flooring, stainless steel appliances and European-style cabinetry, as well as balconies (pictured above). Additional features of the development include an outdoor pool and garden, fitness and exercise center and club room.
For more information please visit Mandalay on the Hudson at http://www.mandalyonthehudson.com
Source: Pr Inside (2008) Investors Still Buying Jersey City Real Estate; available online at www.Pr-inside.com
Image Source: www.mandalayonthehudson.com
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