The lobby at One Park in Cliffside Park — Courtesy: DMG Investments
By Joshua Burd
A crowd gathered high atop the Palisades on Thursday as a developer unveiled its first project in New Jersey — a new 14-story, 204-unit luxury condominium building in Cliffside Park.
The firm, DMG Investments, joined local officials and its project team to mark the completion of what it calls One Park, located at 320 Adolphus Ave. Perched on a cliff above the Hudson River, the development is now poised to attract buyers with its dramatic views and glass façade and some 25,000 square feet of high-end amenities.
“This building is the first large-scale residential property to be introduced in Cliffside Park in nearly a generation,” said Jacky He, executive vice president with DMG, “and its completion paves the way for the borough to firmly stake its claim as the next premier Hudson River Gold Coast destination.
“Today’s ribbon-cutting completes our vision for the property, which was to transform vacant, underutilized land in a one-of-a-kind location into a modern and stylish architectural landmark with upscale homes and world-class amenities, all just minutes from New York City.”
The milestone marks DMG’s first completed project in the New York metropolitan area. He said the company, a subsidiary of a Chinese development firm, had also considered sites in Manhattan and the outer boroughs, but was “amazed” by the view from Cliffside Park when it first visited the site about four years ago.
From that point on, DMG dug in and discovered what He said was an attractive neighborhood and local amenities, along with a supportive municipal government.
Cliffside Park Mayor Thomas Calabrese highlighted that spirit of cooperation during Thursday’s ceremony.
“This is an exciting day for Cliffside Park, as we get to witness the results of a lot of years of careful planning, hard work and collaboration between the borough and a private company that chose to invest in our community,” Calabrese said. “I would like to congratulate DMG Investments and all of the professionals involved in realizing your vision for One Park.”
Designed by Architectura, with interiors curated by VLDG, One Park includes amenities such as an indoor heated pool with sauna and steam rooms and adjoining outdoor sun deck. The building also has a private furnished roof deck, a fitness center with a Pilates room, a squash court and other recreation options.
Meantime, residents have access to a fully automated Unitronics parking garage.
Homes range from 752-square-foot one-bedroom units to four-bedroom condominiums with more than 1,600 square feet. Prices begin in the $500,000s.
Those offerings were on display during Thursday’s ceremony, which is now complete due in part to a $71.6 million construction loan provided by AIG. Daniel Sliwak, a managing director with AIG Investments, was also on hand to celebrate One Park’s completion.
“With the incredible progress these guys have made in such a short period and the attention to detail and the quality of the asset, it has such a presence in the area and such a presence from across the river,” Sliwak said. “So we are very proud to be associated with this project and we wish all the best and success in realizing its full potential.”