PHOENIX REALTY GROUP ACQUIRES $18 MILLION CONDO INTEREST IN THE TRIO

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PALISADES PARK, N.J. — New York City-based Phoenix Realty Group has acquired 71 residential condominium units located within The Trio, a high-rise residential project in Palisades Park, for $18 million. The units consist of one- and two-bedroom residences that range in size from 742 to 1,751 square feet. They represent the remaining unsold units in the project. Phoenix acquired the units, as well as the reserved parking spaces for them, on behalf of its Metropolitan Workforce Housing Fund and plans to offer them for lease. The Trio comprises two adjacent nine-story towers containing 140 condos, as well as a 200-space parking structure. Building amenities include doormen, fitness center, meeting rooms and a media center.

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