July 19, 2005

In 35 Days, North Beach Asbury Park Halfway To Sold Out Only oceanfront condo community proving to be tremendous success

Asbury Park, New Jersey (July 19, 2005) - Paramount Homes, developer of North Beach Asbury Park, the City by the Sea's only oceanfront condominium community, today reported that it is more than 50% sold in just 35 business days. Since June 1st, 80 of the 157 homes available in North Beach's Barcelona, Seville and Monterey buildings have been sold; sales of the 48 homes in the Barcelona were completed in mid-June.

"Over 2,000 people have visited the North Beach Visitor Center since we opened," said Carolyn Villani, vice president of sales and marketing, Paramount Homes. "On most mornings, we have come to work with someone sitting on the stoop, waiting to get an appointment."

According to Villani, the busy activity at North Beach Asbury Park mainly comes from pre-scheduled VIP appointments made through the website NorthBeachAsbury.com. Other factors include publicity about the start of North Beach sales and increased daily visitors to the rebuilt Asbury Park boardwalk, many of whom are attracted to the inviting, optimistic design of the Information Center's waving flags, scaled model of the North Beach community, and virtual reality tour.

Construction is keeping pace with the brisk sales activity. The first 2 of 8 concrete "Super Pours" for North Beach's foundation have been laid down, putting the development on track to have its first residents move in by Memorial Day. To satisfy high demand for the waterfront residences, Paramount Homes is in pre-planning stages to build future phases of the North Beach community.

"There should be no doubt that people want to buy oceanfront property at North Beach Asbury Park," said Villani, who grew up in nearby Long Branch. "When they come here, they see that Paramount Homes has designed a great beachfront resort community. They see that the dream of a new Golden Era will be a reality, and they want to be the first to experience it."

Registration for a VIP appointment to purchase a home at North Beach Asbury Park can be made through the website www.NorthBeachAsbury.com.