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Colonial landmarks, contemporary living Click here for New Providence Listings
Although New Providence was first settled in 1720, its real development did not begin until the 1950’s. While a number of historic structures remain, the borough is characterized by sheltered cul-de-sacs, spacious lawns and homes built for the active, modern family. Recreational programs and facilities are plentiful and the public schools are the community’s pride. A lively village center offers a mix of retail shops, personal services and a diverse choice of restaurants. New York City is an easy commute via bus or by rail.
Fast Facts:
Established: 1899
Population: 12,000
Size: 3.7 square miles
Housing: Victorians, Colonials, Split-levels, Ranches, Townhomes, Condominiums
Attractions: The New Jersey Youth Symphony, The Suburban Community Music Center   Commuter Information:
 The New Providence Train Station is located at 803 Old Springfield Avenue. This station is served by the Gladstone Branch with service to Hoboken Terminal and to Penn Station in Midtown Manhattan via Secaucus Junction. Service begins at 5:41 AM and ends at 1:28 AM. Holiday and weekend service runs from 6:34 AM to 2:33 AM.
Parking permits for the New Providence station are available to residents only for a yearly cost of $300 if applied for before April 1st. Otherwise, quarterly permits may be purchased for $85. There is currently no wait list and permits may be obtained from the Clerk’s Office (908) 665-1400. Residents must show proof of residency with either a driver’s license or car registration. Resident permits can be used for parking at either the New Providence Train Station, located on the corner of Springfield Avenue and Pittford Way, or the Murray Hill Train Station. There is no metered non-resident parking at the New Providence parking lot. Permits are required and enforcement is on a daily basis. A parking permit sticker does not guarantee that a parking spot will be available.
The Murray Hill Train Station is located in New Providence on Foley Place, between Floral Avenue and Southgate Road. This station is served by the Gladstone Branch only. Service begins at 5:38 AM and ends at 1:31 AM. Holiday and weekend service runs from 6:31 AM to 2:36 AM.
Parking permits for the Murray Hill station are available to residents of New Providence for a yearly cost of $300 if applied for before April 1st. Otherwise, quarterly permits may be purchased for $85. Non-residents may park at the Murray Hill station only and the cost is $1000 yearly or $275 quarterly. There is currently no wait list and permits may be obtained from the New Providence Clerk’s Office (908) 665-1400. Residents must show proof of residency with either a driver’s license or car registration. Resident permits can be used at either the New Providence Train Station or the Murray Hill Train Station. Non-resident permits can only be used at the Murray Hill Train Station. There are 2 parking lots available to commuters. The lot on the corner of Southgate Road and Foley Avenue is permit parking only. The lot on Floral Avenue offers both permit and metered parking. The daily metered parking spaces are for non-permit holders and are available on a limited basis. The cost is $5 a day. The Borough of New Providence also sells Smart Cards in increments of $100. These cards are used at the parking pay box at the Floral Avenue parking lot.
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Tax Considerations >Beneficial Tax Laws American tax law offers a significant capital gains tax exemption that allows taxpaying homeowners to unlock home equity and end the spiraling cycle of "investing up." First-time buyers enjoy expanded rules for Individual Retirement Accounts (IRA) and 401(k) plans, rules that allow penalty-free withdrawals to purchase a home.
Every two years, married sellers of principal residences who file joint federal income tax returns are allowed a $500,000 exclusion ($250,000 for singles) from capital gains tax. For sales that took place after May 6, 2003, the maximum capital gains tax rates for profits above the exclusion dropped from 20% to 15% for higher income taxpayers, and from 10% to 5% for lower income taxpayers.
Homeowners can now consider several new options. People who find themselves at an empty-nester stage (no children at home) in a four or five bedroom home with a large equity have been able to unlock their equity dollars, using the income to help their children buy a first home, take a luxury cruise, remodel the house or purchase a second home for vacation or retirement.
Consult your tax advisor for advice regarding your particular circumstance.
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| Q |
What famous American building was originally built in 1792, burned and rebuilt 1814-1818 and restored in 1952?
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| A |
The White House in Washington, D.C., modeled after an Irish palace, is a sumptuous example of post-colonial architecture. |
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