FORT WASHINGTON, PA — Toll Brothers, Inc. (NYSE: TOL) has partnered with Daiwa House to create Vista Pointe, a luxury condominium community situated in the New York City metro area. Located on the Hudson River waterfront in West New York, New Jersey, Vista Pointe will offer residents unobstructed views of the Manhattan skyline. This nine-story development will feature 73 upscale units at 8 Avenue at Port Imperial.
Toll Brothers will serve as both the managing member and development leader, overseeing the project’s design, construction, and sales. The venture has secured an acquisition and construction loan through Bank OZK, facilitated by Toll Brothers’ internal finance team.
David Von Spreckelsen, President of Toll Brothers City Living, expressed enthusiasm for the project: “We are thrilled to embark on a new partnership with Daiwa House to develop this incredible community on the Hudson River waterfront directly across from New York City. Vista Pointe represents a rare opportunity to build a luxury waterfront community with outstanding amenities and unparalleled views of Manhattan.”
The project will include one-, two-, three-, and four-bedroom residences, ranging from 988 to 2,235 square feet. Residents will enjoy 11,000 square feet of indoor amenities such as a 24-hour staffed lobby, a residents’ lounge with a dining room and catering kitchen, a fitness center, a game room, and a children’s playroom. Outdoor features will include a patio with an infinity pool, grilling stations, a terrace and garden, and a landscaped rooftop terrace.
Dave Sarner, Managing Director of Originations at Bank OZK, commented on the financing: “Bank OZK is delighted to finance another project for a quality sponsor like Toll Brothers and its partner Daiwa House. Vista Pointe will be an excellent addition to New Jersey’s Gold Coast, and we are excited to see this innovative venture come to life.”
Yoichi Shimoyama, CEO and President of Daiwa House Texas, highlighted the partnership’s strategic importance: “We are pleased to partner with Toll Brothers on the development of Vista Pointe in Port Imperial, our second project with Toll Brothers. Vista Pointe boasts excellent views of the Manhattan skyline and an extensive amenity package which encompass key parts of our investment strategy.”
The Vista Pointe project adds to the 20-year legacy of Toll Brothers City Living, marking another milestone in developing luxury for-sale condominiums in prime locations across the New York City metropolitan area.
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