Hudson Realty Group Update – October 2016 Edition | Hoboken and Jersey City Real Estate


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MONTHLY REAL ESTATE UPDATE

      
OCTOBER 2016 EDITION

          

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REAL ESTATE AND COMMUNITY NEWS

 

HOBOKEN HISTORICAL MUSEUM:

HOBOKEN HOUSE TOUR

SUNDAY 10/30 FROM 10AM-4PM

Click to purchase tickets or go to the following locations to purchase tickets: Hoboken Historical Museum, 1301 Hudson St., OR Fire Department Museum, 213 Bloomfield St. The Annual Hoboken House Tour will feature up to 10 homes and condos graciously opened to visitors by Museum supporters to help raise funds.

 

 

JERSEYDIGS.COM: HOBOKEN’S ONLY HOTEL MAY SOON HAVE A SHINY NEW COMPETITOR
“After a long planning process, KMS shared details of the proposal last week. It calls for a 20-story, 238 room Hilton Hotel to be constructed flush against the rear of the existing Post Office building. The hotel, designed by New York-based Cooper Carry Associates, would feature a restaurant and bar plus a 6,000 square foot rooftop event space that would be utilized for banquets and weddings.”…

 

 

JERSEYDIGS.COM: JERSEY CITY TO VOTE ON NEW PARKS TAX
“Next month, Jersey City residents will vote on a new tax initiative intended to fund parks and historic preservation. While any recreation-based tax hike can be a difficult sell, many residents insist that the community would benefit from more out-
door park space.”…

 

 

JERSEYDIGS.COM: EXPANSIVE STATUE OF LIBERTY MUSEUM COMING TO LIBERTY ISLAND IN 2019

“…final plans were unveiled for a 26,000 square-foot museum, plaza, and rooftop terrace on Liberty Island in New York Harbor. Designed by FXFOWLE Architects with interior spaces handled by ESI Design, the museum will also include a sprawling outdoor plaza with steps leading up to a rooftop terrace with incredible views of the city.”…

 

CITY OF HOBOKEN: HOBOKEN POLICE DEPARTMENT TO LAUNCH “WALK SAFE HOBOKEN” PEDESTRIAN SAFETY ENFORCEMENT & EDUCATION CAMPAIGN“

“Officers will stop motorists who fail to stop for pedestrians in crosswalks, and in addition will be on the lookout for other dangerous violations such as distracted driving. As pedestrian safety is a shared responsibility,…”

 

NEWYORKYIMBY.COM: REVEAL FOR 15-STORY, 113-UNIT MIXED-USE BUILDING PLANNED AT 87 NEWKIRK STREET, JERSEY CITY“…
15-story, 113-unit mixed-use building at 87 Newkirk Street, in the Journal Square section of Jersey City. The project will measure 129,500 square feet in total, featuring 5,000 square feet of ground-floor retail space, followed by 21,500 square feet of co-working space on the second and third floors. The residential units above will be rental apartments…”

 

 

NEWYORKYIMBY.COM: 750-UNIT MIXED-USE TOWER WITH SCHOOL PROPOSED AT 25 COLUMBUS DRIVE, JERSEY CITY

“At this point, the project is expected to include up to 750 residential units, of which five percent (37 units) would be designated as affordable, the Jersey Journal reported. The tower’s base would feature a 35,000-square-foot, 200-student privately-funded public school for levels pre-K through first grade.”…

 

HOBOKENNJ.GOV: HOBOKEN REACHES AGREEMENT WITH BASF TO PURCHASE 6 ACRE PROPERTY FOR HOBOKEN’S LARGEST PARK
“The new park, to be designed with at least 1 million gallons of underground storm water detention to help alleviate local flooding, would be the largest park in…”

 

NJ.COM: ‘TODAY’ CO-HOST NATALIE MORALES’S HOBOKEN TOWNHOUSE SELLS FOR ASKING $3.1M

“The renovated and expanded home features a modern kitchen with heated Brazilian slate floors and a backyard with a play area, custom built-in barbecue island with granite countertops, and a 42-inch gas grill and a Kalamazoo pizza oven.”…

 

HOBOKEN AND JERSEY CITY REAL ESTATE MARKET REPORT

 

 

MARKET RECAP

Over the first half of 2016, the residential real estate market in Hoboken and Downtown Jersey City continued the up-ward trend in pricing experienced since 2012. Inventory remained near all-time low levels with only 1.5 to 2 months of supply. The volume of activity slowed slightly relative to the 1st half of last year down 7% in closed condos and 6% under contract as well as 22% less townhome closings (46 vs 59). The sharp declines in the stock market seen in January and February slowed high-end sales activity by giving buyers reason to pause but things got back to normal after the stock market recovered in March…<Continue in Report>

 

 

 

               

 

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