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Pinnacle Companies Unveils Innovative Purchase Programs at M at Englewood South

The Pinnacle Companies, a developer of luxury homes throughout the New York Metro Area, recently announced that it has introduced two innovative purchase programs at The M at Englewood South, a new community of elegant condominiums in the heart of Bergen County. The programs will allow buyers to place a portion of their monthly rent into an escrow account to eventually be applied toward the sales price.

"Pinnacle launched these programs because we want to help all our customers realize the dream of homeownership at The M. We knew that some potential homebuyers, although income-qualified, might not have enough savings to meet mortgage companies' stringent |conditions. These programs will help them move into their home immediately, and give them the opportunity to buy their home later when they meet the mortgage companies' requirements," said Mary Boorman, senior vice president of The Pinnacle Companies.

In addition to immediate sales of the condominium homes, Pinnacle has introduced two new programs at The M:

• The "Occupancy+ contract" |will allow a homebuyer to move into their home and sign an occupancy agreement as well as a contract to purchase their home within one year. Pinnacle reserves approximately 50 percent of the rent in an escrow account in the homebuyer's name towards the future down payment. The homebuyer would then close on the home within one year and use the amount in the escrow account toward the down payment. A small upfront deposit ranging from $5,000 to $10,000 is required to start the program.

• The "Lease Now, Buy Later" program lets, pre-approved, potential homebuyers move into their home immediately and sign a lease for one year. Pinnacle guarantees |a price for the home which will not be exceeded when the lease is up. At the end of the year, if the homebuyer chooses to purchase, Pinnacle applies approximately 25 percent |of the total lease payments towards the down payment.

The M, which presents sophisticated urban living on Route 4 in Englewood, offers 125 one-, two- and two-bedroom plus den residences from $274,990.

The M's architectural style is sleek and urban, featuring modern kitchens with maple cabinetry, under-counter lighting, granite countertops, GE Profile stainless-steel appliances, and many of the two-bedroom models have center islands. Laundry areas are spacious and include GE side-by-side washers and dryers. The spacious layouts have nine-foot ceilings (10 feet |on the first floor), offer entire walls of windows and many of the homes have either views of the golf course or the central courtyards.

Additional features include |elegant en-suite master bathrooms with granite countertops and double sink vanities in the 2-bedroom homes, oak hardwood flooring in the living area, ceramic tile flooring in the entry hall and kitchen, and plush carpeting in the bedrooms. A powder room is included in almost all of the homes. One garage space is included in the price and shuttle service to |NJ Transit bus stop is also provided.

Amenities at The M at Englewood South, which are already in place, include an outdoor pool and a residents' lounge that can accommodate large parties. Buyers will also receive a year's membership at 'The Gym' nearby at 20 Nordhoff Place (http://www.gettothegym.com/englewood/), the upscale fitness center.

For more information, visit www.liveattheM.com or call 201-569-6393. The sales office is open Friday -through Monday, 11 a.m. to 6 p.m., and on Thursday, noon to 8 p.m.