New Construction In Tenafly Is On The Rise Again

After some years of hardly any new construction being built in Tenafly, it seems that new construction is back and in a significant way  indicating a trend of new confidence in the Tenafly NJ real estate market.

All the new homes being built in Tenafly  are priced over $Million and cater to the mover uppers, either those moving from Manhattan to the suburbs or, local residents that are improving and moving to larger homes.

Buyers are definitely willing to pay a premium for new homes that are well designed, well built and equipped with all of today’s new amenities and improvements.

As of July27 this year there is a total of 17 new single family Tenafly homes that are;

•  For sale (8),
• Under Contract(6)
• Sold(3)

Of the 17 Tenafly homes six are located on the west side and are priced up to $1,500,000 whereas the other 11 homes are all located on the East Hill and are priced from $1,790,000 and higher.

53 Hamilton Place – New Construction

Homes that get the buyer’s attention are such new construction as 53 Hamilton Place offered for $1,299,000

and  

85 Sunset Lane Offered for $1,435,000

85 SunsetLane offered for $1,435,000.

Both homes offer extensive moldings,  modern large kitchens with top of the line appliances, large backyards, a minimum of five bedrooms and four bathrooms, fully finished basements, and other features such as video Intercom, two or three zones A/C and a builder’s warranty.

Below is a chart with the breakdown by price range and Status of the 17 new homes ( as of  July 27-2012).