The current real estate market is active, to say the least. The COVID-19 crisis has resulted in an increased relocation of individuals and families to suburban markets. Reasons for relocating vary, of course—some are seeking more space, others are reevaluating housing locations as they adjust to working from home, and some are economizing or downsizing, with many finding their new homes right here in Bergen County.
A Time of Growth
Despite the challenges this year has brought with it, this timing is fortuitous for developing towns like Teaneck, which has welcomed three new luxury apartment buildings in the last year—all within close proximity to NVE’s Teaneck branch located at 1505 Teaneck Road. These recent investments in desirable housing options and in the growth of the community appear to be attracting new residents in droves.
New Jersey and Bergen County real estate expert Vicki Gaily said of the local real estate market, “We are finding a large volume of buyers coming from more urban areas, particularly Manhattan but large cities from around the Manhattan area also.”
According to a piece in the New York Times, of the 228 rental units at One500—Teaneck’s latest addition to the luxury apartment landscape—34 percent of the new leases were signed by former New York residents.
New Housing Options
Those looking to settle in Teaneck have no shortage of options. Located within view of the New York City skyline, former Manhattanites are sure to feel right at home in any of these new apartment communities.
The newest of the luxury rental properties, One 500 is located on Teaneck Road, directly across the street from NVE’s Teaneck Road branch, right in the heart of town. Amenities include resident lounges, work-from-home spaces, a state-of-the-art fitness center, and a beautifully landscaped terrace, complete with fire pits and barbecues. Learn more about the many features and amenities on their website.
Just a year old, Palisade Avenue’s Teaneck Square prides itself on flawless service, top tier amenities, and a comfortable atmosphere that makes residents feel right at home. Its one-, two- and three-bedroom apartments feature spacious layouts and top-tier finishes, while its community space includes an on-site lounge, fully equipped gym, and landscaped outdoor space with stunning views. Find out why Teaneck Square’s amenities set them apart.
Avalon Teaneck, which also opened in 2019, designed its one-, two-, and three-bedroom apartments with the philosophy that “where you live, is where you come alive.” Located on Windsor Road, the new housing complex offers thoughtfully designed living spaces with modern kitchens, and amenities including a fitness center with virtual classes, a courtyard with a pool and gas grills, and a resident lounge. Find out what else Avalon Teaneck residents can look forward to.
We welcome our neighbors, old and new, to lean more about what the products and services NVE Bank offers and how we support the Teaneck community and its residents. Please visit our website or give us a call at 1-866-NVE BANK (683-2265). We can also be found at any of our 11 branches conveniently located throughout Bergen County.