Palmer Square Reports Uptick in Sales of Luxury Town Houses

Sales of luxury townhouses at Residences at Palmer Square are picking up and more than half of the units have been sold to date, the company announced on Friday. 

Six of the 11 town houses have been sold. Each features either a two- and three-bedroom floor plan ranging from 2,622 to 3,084 square feet of living space. Prices begin at $1,775,000.    

The townhouses were completed more than two years ago. 

The uptick in sales is a reflection of a rise in the overall trend in the luxury housing market of those units priced at $1.7 million and above, said Maura Mills,  a sales associate with Callaway Henderson Sotheby's International Realty in Princeton. 

There were 36 contracts signed for luxury homes in the greater Princeton area in 2013, a 56 percent increase over 2012, Mills said, citing statistics from TREND MLS.

Developers have been hoping that buyers would flock to the new luxury development in the heart of Princeton.The three-phase project includes 100 luxury townhouses, condominiums and apartments in seven buildings.

Located along Paul Robeson Place between Chambers and Witherspoon Streets, the development neighbors the dozens of shops, restaurants and specialty food stores in Palmer Square.

The townhouses are typically three stories, plus a basement. 

The project was designed by Minno & Wasko Architects and Planners, Lambertville and built by MOD Construction Services, Princeton.