Trump Parc Stamford Breaks New Ground With Unprecedented Buyer Incentive Program

July 20, 2009 - PRLog -- STAMFORD, CT  – Trump Parc Stamford, the 34-story condominium tower nearing completion high above downtown Stamford, is not only changing the city’s skyline. It is also changing the way residential real estate is being marketed in today’s challenging housing market.

In an unprecedented move, Trump Parc Stamford is offering a buyer incentive program designed to make the cost of owning a new home in the luxury high-rise building comparable to or less than what one may be paying in monthly rent for an apartment.

“This new incentive program goes way beyond what others are offering in the market today. The ‘Why Rent When You Can Own Program’ is designed to get you into one of our beautiful new homes for about what you would be paying in monthly rent. While we still have a significant amount of sales activity from people who are selling their home, we created this new program to entice renters to convert to homeownership,” said Thomas L. Rich, who is developing Trump Parc Stamford with Donald J. Trump and Louis R. Cappelli.

In addition to dramatically reducing purchase prices for selected new homes, the developers of Trump Parc Stamford are also offering to:

Reduce the required down payment to 10%;
Provide buyer financing from select lenders at rates well below prevailing market rates;
Provide seller financing for up to 20% of the purchase price at an interest rate of only 2.5%;
Pay common charges and valet parking fees for up to 3½ years;
Provide job loss interest payment deferral on seller financing;

And if a program participant decides to sell their home at Trump Parc Stamford during the fourth or fifth year of ownership for less than what they paid, the developer will pay the difference up to 10% of the original purchase price.  

The “Why Rent When You Can Own Program” at Trump Parc Stamford is only available to the next 50 buyers of homes on floors 8 through 21 in the building.

Here’s how the program translates into big savings:

For a 1,109-square-foot one-bedroom home at Trump Parc Stamford priced at $682,458, the down payment would be $68,246 and the five-year average after-tax monthly cost would be $2,087.

For a 1582-square-foot two-bedroom home priced at $878,000 the down payment would be $87,800 and the five-year average after-tax monthly cost would be $3,110.

And for a 1,825 square-foot three-bedroom residence priced at $1,088,032, the down payment would be $108,803 and the five-year average after-tax monthly cost would be $3,711.

“Many people are already paying $2,000, $3000 or $4,000 a month in rent which is money that’s simply being lost each month. Why keep paying rent each month when you could own a new home and be building equity in real estate in one of the region’s finest luxury condominiums that is located in the heart of an exciting and dynamic city,” said Mr. Rich, who created the incentive program. “This is really a no-brainer,” he added.

Mr. Rich recently launched the new program with a radio advertising and direct-mail blitz targeted to renters in Fairfield County as well as Westchester County, NY and Manhattan. “Since we started this campaign a few weeks ago, we have been flooded with phone calls, resulting in many purchase contracts being signed. This program has definitely struck a chord with renters who have been sitting on the fence waiting for the right opportunity to buy,” he said.

Trump Parc Stamford, which is scheduled for occupancy at the end of August, features 170 one-, two- and three-bedroom residences and duplex penthouses with most having private outdoor terraces. As Stamford’s tallest building, Trump Parc Stamford offers spectacular views of Long Island Sound and the New York City skyline. When completed, Trump Parc Stamford will be Stamford’s tallest building and one of the tallest residential buildings between New York City and Boston.

First-class amenities include 24-hour concierge/doorman, indoor swimming pool, full-service Fitness Center, party room, wireless lounge, billiards and screening rooms, a rooftop private observation deck and a first-class restaurant on the ground floor.  Trump Parc Stamford will also have a shuttle service to the nearby Stamford Transportation Center where an express train puts you in Midtown Manhattan in less than 46 minutes.

Located at the intersection of Washington Boulevard and Broad Street, Trump Parc Stamford is minutes from the heart of downtown with its fine dining, exciting night life and excellent shopping. Trump Parc Stamford is also across the street from the Mill River Park which is undergoing a $40 million restoration that will transform the three-mile greenway into Stamford’s “Central Park”.  Many of the residences at Trump Parc Stamford have sweeping views of the new park.

The Trump Parc Stamford Sales and Design Center is located at 7 Broad Street, Stamford. For more information about Trump Parc Stamford, call (203) TRUMP66 or visit the website at www.TrumpParcStamford.com

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About Trump Parc Stamford: Trump Parc Stamford, which is scheduled for occupancy at the end of August, features 170 one-, two- and three-bedroom residences and duplex penthouses with most having private outdoor terraces. As Stamford’s tallest building, Trump Parc Stamford offers spectacular views of Long Island Sound and the New York City skyline. When completed, Trump Parc Stamford will be Stamford’s tallest building and one of the tallest residential buildings between New York City and Boston.