101 Mettlers Road
Mountain View Corporate Center
The Modern
Waterfront Corporate Center III
Morris Corporate Center VII
Montgomery Corporate Center
Somerset Corporate Center V
Morris Corporate Center V
Somerset Corporate Center I
Ingersoll-Rand Company
11 Times Square
Crossroads Business Center
Warren Corporate Center
Mountain View Corporate Center
Deluxe Check Printers
Morris Corporate Center IV
Platinum
95 Greene Street
Somerset Corporate Center III & IV
Englehard World Headquarters
Somerset Corporate Center VI
Mountain View Corporate Center
140 Allen Road
Liberty Corner Corporate Center
Tiffany - Customer Service Center
Waterfront Corporate Center I & II
Peapack
EBI Medical Systems
Somerset Corporate Center II
BMW at Woodcliff Lake
Morris Corporate Center I & II
45 Park Avenue
Morris Corporate Center VI
Tiffany - Customer Fulfillment Center
The Commons
Morris Corporate Center III
The Prudential Insurance Company
Two Riverfront Plaza
EBI Medical Systems
Bayer AG Consumer Health Products
Metropark Corporate Center
211 & 219 Mt. Airy Road

Fort Lee Redevelopment Associates Awarded Site Plan Approval for the Development of 'The Modern'

Development to Transform Fort Lee, N.J., into a Premier Destination for Luxury Living

Location

Fort Lee, NJ
(March 27, 2012) –

Fort Lee Redevelopment Associates (FLRA), a partnership of leading real estate developer SJP Residential Properties, noted Bergen County attorney James Demetrakis and real estate investment firm Palisades Financial, has secured site plan approval to develop The Modern, an extraordinary, luxury residential development highlighted by two 47-story, iconic towers that will rise in the center of Fort Lee, N.J.

The Modern's all glass towers will each contain 450 luxury rental apartments featuring a mix of studios, one-, two-, and three-bedroom residences that offer spectacular views of the Hudson River, New York City skyline, George Washington Bridge and the surrounding landscape.  Construction is expected to commence in the summer of 2012.

"We are creating an icon that will forge a strong identity for Fort Lee as a destination for luxury living.  The Modern will offer majestic views and exceptional amenities, features and services," said Allen Goldman, President of SJP Residential Properties and Managing Member of FLRA.

"Furthermore," Goldman said, "this new community has been designed to incorporate energy efficient systems that will afford residents the best in sustainable luxury living."

The towers, situated on a nearly eight-acre site, are to be located at 100 and 800 Park Avenue (formerly known as Martha Washington Way), immediately south of the entrance to the George Washington Bridge, and will feature an unprecedented 70,000 square feet of indoor and outdoor resort-style amenities for enjoyment by residents.

The amenities area will feature a spacious, state-of-the-art fitness center and a separate yoga and Pilates studio.  A spa will include a community sauna and offer massage services.  Residents will be able to relax in the beautifully designed lounge area, which will offer breakfast and will also be available for catered events.  Additional indoor amenities include a luxurious screening room, a sophisticated golf simulation area, and a "tween" room with a Nintendo Wii station.  An Internet lounge with available snacks is also planned for each tower, where residents can hook up their laptop computers to available WiFi and printers.

Outdoor amenities in each tower include a spectacular infinity pool surrounded by chaise lounges.  Volleyball and basketball courts are available for games with friends or fellow residents.  An expansive rolling lawn area will feature outdoor movies during summer evenings.  Individual and community barbecue stations will offer an opportunity for residents to enjoy a taste of outdoor cooking any time of the day.  The Modern will have a covered dog walking area and pet spa.  Separate indoor and outdoor children's play areas will be created for the community's youngest residents.  A large indoor parking garage will be conveniently located adjoining the towers.

The Modern's grand, two-story lobby will feature 24/7 concierge and doorman service as well as package and dry cleaning reception and refrigerated storage availability.  The buildings will offer free WiFi access in all community areas.  Each tower will be wired for clear cellular phone service throughout.

Each of The Modern's spacious residences will feature open floor plans and high ceilings highlighted by floor-to-ceiling glass windows that offer breathtaking views.  Luxury appointments include oak hardwood floors, walk-in closets and beautiful stone bath and powder rooms.  Open kitchens are designed with beauty and functionality in mind.  Washers and dryers will be included in every home.  Energy efficient heating and cooling systems with remote thermostat controls will be standard in each residence.

The Modern's residences will be available for occupancy beginning in the summer of 2014.

The two towers will rise between a one and three-quarter-acre beautifully landscaped public park that will include water features and walking paths reminiscent of Central Park in New York City.  The park will also host a 7,000-square-foot restaurant with indoor and open-air dining, as well as a refreshment kiosk.

Additionally, FLRA will develop a 13,000-square-foot building to be donated to the Borough of Fort Lee, which will house a large public theater and a public museum.

The Modern is part of a larger mixed-use redevelopment of a 16-acre site adjacent to the George Washington Bridge that will contain 165,000 square feet of retail in an adjoining development parcel.

The Modern is a continuation of SJP's strong track record developing some of the New York Metropolitan Area's most successful luxury residential and commercial projects.  The company's more recent notable residential and mixed-use developments include 45 Park Avenue on Manhattan's East Side, and the 43-story Platinum on Eighth Avenue and 46th Street in New York City, both of which are completely sold out.  During his extensive career, Goldman was also instrumental in the development of The Palisades in Fort Lee, a 538-unit luxury rental building, as well as The Shipyard in Hoboken, Portside Towers in Jersey City and the redevelopment of Port Liberte in Jersey City.

About SJP Residential and SJP Properties
SJP Residential Properties, under the direction of Allen Goldman, is the residential arm of leading developer SJP Properties.  Mr. Goldman has been responsible for the development of thousands of quality apartments and condominiums in New Jersey and New York.  SJP Properties, headed by Steven J. Pozycki, has built more than 20 million square feet of Class A office space and created some of the finest corporate offices for the world's leading firms.  The company prides itself on a track record in which each of its projects has been completed, on time and within budget.  With more than 30 years of development experience, the principals of SJP have achieved an unblemished record of success in every development they have undertaken.

For more information on SJP Properties, please call 973-299-9117 or visit www.sjpproperties.com.