Two New Penthouse Sales Just Days Apart At 40 Park Reflect Limited Collection's Sensational Appeal

Only Five Penthouses Remain at the Luxury Residential Building on the Morristown Green. End Quote

New York, NY (1888PressRelease) March 02, 2012 - Extraordinary penthouse living in the heart of downtown Morristown has struck a chord with two new home buyers who recently purchased two spectacular Penthouse residences just days apart at 40 Park, one of the most unique and sophisticated luxury residential buildings ever built in Morris County.

The new sales at the upscale condominium building overlooking the Morristown Green has left just five residences remaining in the exclusive Penthouse collection, along with a limited selection of Signature residences

"The success of 40 Park is testament to both its coveted location in the center of Morristown's dynamic downtown district and the distinctive character of the residences, which combine with the building's upscale amenities and services to give our homeowners a unique lifestyle experience," notes Debra Tantleff, a Vice President of Development at Roseland Property Company, which is developing 40 Park in partnership with Woodmont Properties.

"The Penthouses, in particular, are some of the most impressive residences we've ever been a part of, setting a new standard for luxury and elegance. We're delighted that buyers are reacting positively to these exceptional homes."

The number of prospective buyers visiting the 40 Park Sales Office and furnished model homes has increased significantly in recent weeks, indicating a growing appreciation for 40 Park's upscale offering, as well as a sense of urgency as specific designs and locations continue to sell out.

"We're seeing more and more people embracing the idea of customizing their lifestyle through well-conceived single-level living, a maintenance-free environment and a convenient location where they can walk to all that downtown Morristown has to offer," Ms. Tantleff points out.

"This is true of both area residents moving from throughout Morris County and neighboring locales to those relocating from other parts of the country as 40 Park and Morristown are proving to have wide-spread appeal."

The new Penthouse sales at 40 Park included a three-bedroom, 3 ½-bath residence featuring 2,788 square feet of luxurious living space, a gourmet kitchen, a huge living/entertaining area and a den. A magnificent 1,800 square-foot terrace wraps around the corner of the residence, offering unparalleled outdoor space and stunning views of the Morristown Green. Also sold was a two-bedroom, two-bath Penthouse featuring 1,730 square feet of living space and a 600 square-foot outdoor terrace facing Market Street with partial views of the Green.

The remaining two- and three-bedroom Penthouses available at 40 Park are priced from $1 million to $2 million and feature up 2,788 square-feet of living space, 2-3 ½ baths, and up to 1,500 square-foot private terraces. Elegantly-designed Signature residences are also available from the upper-$700,000s, giving buyers a diverse offering of floor plans and home types to choose from even as the total number of homes remaining in the building continues to dwindle. All of the single-level residences boast a variety of upscale features and appointments, such as hardwood floors, marble countertops and gourmet kitchens. Balconies with decorative railings and architectural bay windows add a level of design distinction and sophistication.

40 Park homeowners also enjoy The Park Center, a private amenity floor within the building that includes a state-of-the-art fitness center, billiards tables, flat screen TVs and a media room. All homes also come with private, indoor parking and concierge service.

Created to embrace everything that one of New Jersey's most scenic and historic downtowns has to offer, 40 Park features 76 single-level condominium residences housed in a distinctive seven-story building. Ground level retail such as Roots Steakhouse, Urban Table, Starbucks, Qdoba and the AT&T Store makes going out to dinner or grabbing a cup of coffee as easy as walking just a few steps from your front door. Numerous other shops, restaurants, theatres and art galleries are also within walking distance - as is the Morristown Train Station.

Morristown's location near several major highways and employment centers adds to 40 Park's appeal. The community is just a few minutes away from Route 287, Route 78 and Routes 202/206, offering commuters easy access to their places of employment. A number of different day trips are possible, with some of New Jersey's best hiking trails, scenic lakes and outdoor recreation located a short drive away.

For more information on 40 Park, please call 973-359-0010 or visit www.40park.com. To view online video testimonials of residents sharing their experiences at 40 Park, visit www.WeLove40Park.com. The community is located at 40 W. Park Place, Morristown, NJ 07960. The Sales Center is open daily from 10 a.m. to 6 p.m. Guests can call at any time to arrange a private tour.

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