Toll Brothers’ division Toll Brothers City Living and Daiwa House have announced a joint venture (JV) for developing a new luxury condominium community, known as Vista Pointe, in the New York City metro market.

As the managing member and development lead, Toll Brothers is overseeing the project's approvals, design, construction, and sales.

The community will be situated at 8 Avenue at Port Imperial in West New York, New Jersey, offering the residents views of Manhattan from its Hudson River waterfront location.

The JV has secured an acquisition and construction loan from Bank OZK, arranged by Toll Brothers' in-house Finance Department.

Vista Pointe is poised to become a nine-storey, 73-unit luxury condominium community, featuring a range of one- to four-bedroom residences. The sizes of these for-sale units will vary from 988 to 2,235ft², catering to a diverse clientele.

Prospective residents of Vista Pointe can look forward to an array of indoor amenities spanning 11,000ft². These include a 24-hour staffed lobby, a residents' lounge with a dining room and catering kitchen, game room, fitness centre, screening room, children's playroom and maker space.

The outdoor facilities at Vista Pointe are set to complement its upscale indoor offerings. An outdoor patio and infinity pool will serve as a spot for relaxation.

Additionally, residents will have access to grilling stations, an outdoor terrace and garden on the third floor, and a landscaped rooftop terrace.

Toll Brothers has a presence in the construction sector, with projects in over 60 markets across 24 states and the District of Columbia.

Toll Brothers City Living president David Von Spreckelsen said: “Consistent with our strategy for all Toll Brothers City Living developments, our partnership with Daiwa House will allow us to develop this project in a capital-efficient manner, while our long-standing relationship with construction lender Bank OZK facilitated the financing.”