Monday, March 27, 2023

Several years ago if someone had mentioned South of Cedar you might’ve thought a new Tex Mex restaurant just opened. While there is still no such restaurant in Teaneck, exciting things are happening, including the growth of the South of Cedar section of town. That growth is about to explode with the new townhouse development, Parkside Lane, located at 520 Palisade Avenue.

While there have been over 700 new housing units built in Teaneck in the last few years, almost all of those units are rental apartments. While rentals are appealing to a large group, many residents who are downsizing and selling a home would like to own. There is finally a purchase option in town.

Parkside Lane at Teaneck is a new development of luxury townhomes located at the intersection of Herrick and Palisade. The project features 62 townhomes. Each home is three stories, has a two-car garage, entrances from the front and back, and features including over 2,000 square feet of luxury living space. With 10-foot and 9-foot ceilings on the different floors, each home has a roomy feeling. All homes offer three bedrooms, two full baths and two half baths. Other features include wood floors, a fireplace and quartz countertops

There is a large room on the first floor that can serve as a recreation room or be converted into an office with an additional full bath. Additional options include a kosher kitchen and elevator. Proximity to the heart of Teaneck with access to shuls, restaurants, bus lines, Holy Name Hospital and even Care One makes it an ideal option for downsizing. Parkside Lane provides new luxury construction which offers homes that require minimal care. The large size is perfect for the downsizer who needs extra room for family when they come to visit.

Construction is by two builders with extensive local experience in this type of construction. The sales office has just opened in the plaza. There will be a “hard-hat” tour of the project on Feb. 26 open to prospective buyers; More details to follow so be on the lookout. Further information is available on their website at www.parksidelaneteaneck.com. Please contact the builder for current incentives and financing options.

One of the most important goals of downsizers is simplicity. No snow shoveling, lawn mowing or gutter cleaning. It would be nice not to be calling plumbers, electricians, and AC servicemen when home related issues pop up. Renting an apartment is certainly an easy option in regard to maintenance. However, if you want to own, buying a new home in a community is the next best thing. As an owner at Parkside Lane you’re still responsible for caring for your home but with everything brand new you should have fewer issues to deal with for some time. The common area is cared for by the association so you can give the snow plow and lawn mower to your kids and save your back the trouble.

Parkside Lane provides an exciting complement to the current housing stock which has fueled the growth in the area. “First time homebuyers can still find three bedroom starter homes in the $500,000 range with larger options in the $750,000 range,” explained Ron Cohen, a local realtor who has developed a strong following in the area. “I recently sold five homes to parents who wanted to be near their children who live in the area. They sold larger homes and relocated to the South of Cedar area to be closer to the grandchildren.” The different shuls can accommodate the younger people as well as their parents. Ohr Sadya is a popular shul with many young members and a very large group of children. Arzei Darom accommodates a more diverse group including both young members as well as many grandparents. Teaneck Jewish Center also services the community.

“People like this area because it doesn’t have the typical Teaneck feel,” added Cohen. “While it benefits from the schools, restaurants, supermarkets and shops of Teaneck, it feels like it’s out of town.”

South of Cedar is an interesting option for downsizers and first-time homebuyers alike. Parkside Lane, together with attractive starter options, presents opportunities not available elsewhere in the area.

David has worked with a number of lending institutions as a mortgage loan officer for nearly 15 years. His experience has provided an insight into the inner workings of the industry and he shares this expertise with his mortgage customers and readers who he hopes will use his tools to find the best mortgage to fit their needs. If you would like a copy of his“Find the Right Mortgage lender” report, email him at [email protected]

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