Real Estate

Foley Square: New Homes Coming to New Providence

December 3, 2012 at 11:20 AM

NEW PROVIDENCE, NJ - With the number one ranked high school in the state and a vibrant downtown, New Providence is a great place to live and raise a family. Beginning in the spring, on the on the corner of South Street and South Gate Road, there will be a new housing development in Foley Square, which is in the Murray Hill section of New Providence.  

Several years ago, developer Howard Weinerman of Newstar Homes in Summit started buying single home properties with the hope of eventually tearing them down and building condominium-style townhouses.  His dream has come to fruition.

There are going to be 22 homes with gourmet kitchens with choices of granite counters, GE Profile Stainless Steel appliances and choices of wood cabinetry, master bedroom suites with full baths with double vanities, soaking tubs, separate shower stalls and walk in closets.  Some models will have a fireplace and dressing room in the master suite, as well.

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Weinerman said he had been researching projects near train stations and wanted to create nice family-size houses like many in New Providence.

He has worked closely with local architect Karen Luongo, who knows the area, and realtor Michelle DiBenedetto from Prudential Properties in New Providence. With construction recently started, Weinerman said he is excited.

“We’re trying to use the local flare and what the local people are looking for,” he said. “It should be very successful.”

DiBenedetto, who has been a real estate agent for six years, but a resident of New Providence for 17, knows the community quite well.  After doing business with Weinerman’s father, he reached out to her and asked her to help sell the homes.

“Mr. Weinerman felt I had a better handle on New Providence itself,” DiBenedetto said.

She began marketing the project a few months ago, but said because the houses aren’t built yet, it is a bit of a challenge.

She has to make potential buyers understand the layout of the homes, so she shows them the drawings, explains the floor plans and takes them step by step by describing what each room will look like.

“Once I walk them through it on paper they understand it,” she said.

She is currently taking non-binding reservations for $2,500, which holds a buyer’s place to bid on a home.  She has been receiving two to three phone calls a day regarding Foley Square and one couple already put a bid down.  She feels more people will do so once the first five houses are completed.

It’s going to be great for the community and people will be able to have the house of their dreams, she said.

“People are really very excited about it,” DiBenedetto said. “It’s going to be a beautiful entrée into New Providence. It’s going to change the whole landscape of that area.”

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