HUDSON REALTY GROUP’S

 

MONTHLY REAL ESTATE UPDATE
 
DECEMBER 2013 EDITION


YOUR SOURCE FOR HOBOKEN AND JERSEY CITY REAL ESTATE

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WE ARE PROUD TO ANNOUNCE

 

OUR NEW WEBSITE IS NOW LIVE! 

 
PLEASE VISIT US AT WWW.HUDSONREALTYGROUP.COM

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HALSTEAD’S INNOVATIVE MARKETING


VIRTUAL STAGER

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According to a recent National Association of Realtors study, a furnished home can garner up to 20% more web traffic than the same home without furnishings. With that in mind, Halstead Property is proud to offer the 21st Century alternative to traditional staging with our new innovative marketing tool named Virtual Stager. This allows you to now promote a vacant and unfurnished home in a fully furnished capacity through the use of 3D rendering technology. We are now able to take a photograph of an empty room and fill it with your choice of furniture and décor for a realistically furnished look. Designer couches, tables, rugs, bookcases, paintings and more can all be digitally superimposed into the vacant room and arranged to create a more attractive atmosphere. You can choose from over 50 different décor groupings to find the exact style of which you would like to stage the home.

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MORTGAGE RATES

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BANKRATE.COM: MORTGAGES PAUSE, PREPARE TO RESUME CLIMB

“Mortgage rates took a break this week, but they will soon resume their upward march as lenders face higher mortgage fees that will get passed on to consumers.  The benchmark 30-year fixed-rate mortgage was 4.55 percent, the same as last week, according to the Bankrate.com national survey of large lenders. The mortgages in this week’s survey had an average total of 0.39 discount and origination points. One year ago, that rate stood at 3.52 percent. Four weeks ago, it was 4.48 percent”…

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HUDSON REALTY GROUP LISTINGS

SEARCH MLS LISTINGS

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612 GARDEN STREET, HOBOKEN
– Developed and Designed by Hudson Realty Group
– No Expense Spared, Complete Gut Renovation
– Single Family Townhome with 5 Bedrooms, 5.5 Baths
– 3850 SF of Living Space Over 4 Levels
– Two Tiered Garden with a Bluestone Patio
– Custom Cabinetry with Thermador Appliance Package
– Fixtures from Waterworks, Toto, Hans Grohe and Kohler
– Tile from Ann Sacks, Waterworks, Artistic Tile
– Oversize Marvin Windows and Doors Throughout
– Wired for Distributed Audio with Integrated SONOS System
– Energy Efficient White PVC Roof with Solar Panels
– Whole House Natural Gas Back-Up Generator
– 4 Skylights, 2 Gas Fireplaces
– Asking: $3,000,000

64 MADISON STREET 3, HOBOKEN
OPEN HOUSE SUNDAY 12/15 FROM 1-3PM

– Stunning Condo In Downtown Hoboken
– 1279 SF, 2 Bedrooms, 2 Baths

– Chef’s Kitchen with Viking Appliances, Granite Counters
– Glass Doors Open to Large Balcony Width of the Home
Wired Sound in Every Room, Central Heat/AC, Gas Fireplace
– Asking:$635,000

104 MAPLE STREET 1, WEEHAWKEN
– Renovated 1000 SF, 2 Bed, 1 Bath with Garage Parking
– Open Floor Plan, High Ceilings, Exposed Brick
– New Kitchen, SS Appliances, Hardwood Floors
– W/D & Storage in Basement, Close to NYC Bus Stop
– Asking: $2,400/month

             

208 11TH STREET B, HOBOKEN
– Renovated Garden Level Studio
– Central Air, SS Appliances, Granite Counters with New Fixtures

– Washer/Dryer Combo in the Unit
– Near Washington St & NYC Transportation
– Asking: $1,875/month

 
1117 PARK AVENUE 1, HOBOKEN
– Garden Level Studio Uptown Hoboken
– Central Air, Washer/Dryer in the Unit & Shared backyard
– Separate Living and Kitchen Area
– Near Washington St Restaurants, Shops, & NYC Transportation
– Asking: $1,800/month
 
812 GRAND STREET 524, HOBOKEN
(UNDER CONTRACT)

– The Huntington, Concrete Elevator Building
– SE Top Floor Corner Condo, Well Designed Floor Plan
– 1412 SF, 2 Bed+ Den, 2 Bath, Deeded Garage Parking
– Open Kitchen, Spacious Master En-Suite, with W/D
– Asking: $775,000
  
700 BLOOMFIELD STREET 2, HOBOKEN
(UNDER CONTRACT)
– Renovated Corner Condo, Historic Brick Building
– Beautifully Finished, Classic Style and Modern Amenities
– 812 SF, 2 Bed, 1 Bath, 11 Windows w/ 3 Exposures
– Wide Open Living Areas, Kitchen w/ Granite Counters
– Asking: $499,000
  
473 NEWARK AVENUE 403, JERSEY CITY
(UNDER CONTRACT)
– Top Floor Condo, 667 SF, 1 Bed, 1 Bath w/ 9’5 Ceilings
– Spacious Kitchen, Granite Counters, SS Apppliances
– Hardwood Floors, Recessed Lighting, Washer/Dryer
– 10 mins from JSQ PATH, 15 mins from Hamilton Park
– Asking: $215,000
 Hudson Realty Group has exceptional knowledge of the Hoboken real estate and Jersey City real estate markets.  Our expertise includes: condosbrownstoneslofts and new developmentsSPACE
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REAL ESTATE AND COMMUNITY NEWS

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HUDSON REPORTER: COUNCIL CLEARS PATH FOR NORTHWEST HOBOKEN REHAB

“The City Council took a major step toward developing the area around the city’s northern borders on Wednesday night, unanimously designating the “north end” – an area north of Fourteenth Street and west of Park Avenue – as an area in need of rehabilitation. The move is a crucial first step in a process that could see the neighborhood change drastically in the coming years, a city official told the council.”…

NJ.COM:GROUNDBREAKING CEREMONIES HELD FOR HOUSING PROJECTS ON BOTH ENDS OF ECONOMIC SPECTRUM

The rapidly changing Downtown Jersey City skyline will soon have a new addition, with officials ceremonially breaking ground on a 38-story, 311-unit luxury apartment building known as M2. Developed by Mack-Cali/Roseland and Garden State Development Inc”…

HOBOKENNJ.ORG: HOBOKEN INSTALLS HIGH TECH SOLAR TRASH AND RECYCLING COMPACTORS
“The City of Hoboken is installing 40 BigBelly Solar compacting trash and recycling bins along the South Waterfront from Pier A to Pier C as a first phase of broader rollout along high-traffic areas. BigBelly bins have five times the capacity of regular trash cans, are more sanitary, require fewer pickups, and are equipped with wireless technology to automatically notify staff when they need to be emptied.”…

NYPOST: JERSEY CITY IS THE NEW FOODIE DESTINATION

“When news broke in October that “Top Chef” alum Dale Talde plans to open a second location of his popular Brooklyn eatery Talde in Jersey City next year, everyone was quick to anoint the other side of the Holland Tunnel as the next great food destination. But Jersey City’s culinary scene has been on the rise ever since former Momofuku chef Kevin Pemoulie and his wife, Alex, opened Thirty Acres, an inventive American restaurant, to much acclaim in April”…

NJ.COM: HOBOKEN OPENS NEWLY RENOVATED DOG RUN IN STEVENS PARK

“HOBOKEN — After nearly a month of construction, the dog run at Stevens Park is open for business. The renovations at the park included new benches, fencing, pet and waste bag dispensers. A canopy and gate for the entrance are slated to be installed next week, according to the city’s Facebook page.”…

HUDSONREPORTER: MAJESTIC II WILL NOW BE RENTALS

“The Jersey City Council introduced an ordinance at its Nov. 26 meeting that would grant 272 Grove St. Urban Renewal LLC approval to switch from a first proposed condominium project to a market rate rental, increasing the number of total units from 88 to 99 but reducing the number of parking spaces to 46. The project would also receive a 25-year tax abatement.”…

THEJERSEYCITYLIFE.COM: 333 GRAND ST. CONSTRUCTION UNDERWAY ON NEW APARTMENT BUILDING
“Over in Liberty Harbor along Grand St., construction on 333 Grand St. aka 325 Grand St. in well underway.  The plot of land for 333 Grand St. sits south of Grand St. along River St., and Regent St., east of Jersey Ave.  The plot was subdivided into three lots by the property owner, 50 Regent, LLC.  Currently, the other two subdivisions are being used for Zeppelin Hall Beer Garden parking as well as Jersey City Medical Center parking.  The development of the lot will bring a”…

NERDWALLET.COM: THE BEST PLACES IN NEW JERSEY FOR JOB SEEKERS

#1. HOBOKEN – Hoboken is in Hudson County and is located across the Hudson River from New York City. Residents have easy access to a vibrant main street, family-friendly parks and plenty of dining and shopping options. Additionally, Walk Score named Hoboken a walker’s paradise. The city saw a 15.7 percent increase in the”…

NORTHJERSEY.COM: EAST RUTHERFORD COUNCIL MOVES AMERICAN DREAM A STEP CLOSER TO APPROVAL

“In exchange for issuing up to $550 million in bonds to help complete the project, the borough council agreed Tuesday night to receive $20 million upfront to repay debt associated with the borough’s new police and court building. The borough also would receive $164 million over the project’s first 20 years in payments in lieu of taxes, or PILOTS, plus another $1 million upfront and payments for the next decade to repay sewer costs.”…

NJ.COM: HOBOKEN TO HOLD PAIR OF COMMUNITY MEETINGS ON SOUTHWEST PARK AND REDESIGN OF WASHINGTON ST.
“In October, Hoboken acquired a one-acre property bounded by Jackson Street, Observer Highway, Harrison Street and Paterson Avenue as the first major installment of a new Southwest Park. A landscape architecture and planning firm with expertise in parks design and green infrastructure for storm water management, has”…

THEJERSEYCITYLIFE.COM: 148 FIRST ST. HAS RISEN IN THE POWERHOUSE ARTS DISTRICT OF DOWNTOWN JERSEY CITY

“148 First St. has been rising from the ground since April of this year, and has reached its final height of 12 stories along First St. backing up to Waldo Lofts in the Powerhouse Arts District.  The total cost of the development and construction is stated to be about $32 million of which $22 million is construction costs and $10 million is cost of land (0.287 acres).  148 First St., when completed in 2014, will add roughly 120 rental units to the redevelopment area of which 6 to 12″…

HUDSONREPORTER: STATE ASSEMBLY COMMITTEE EXPRESSES SUPPORT FOR EXTENDING NEW YORK NO.7 SUBWAY TO HOBOKEN, SECAUCUS

“HOBOKEN — Will Hoboken become another stop on the New York subway? If New Yorkers are lucky, it will! Yesterday, the state Assembly Transportation, Public Works and Independent Authorities Committee approved a resolution expressing support for extending the No. 7 line to New Jersey, including Hoboken and Secaucus.”…

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HOBOKEN AND JERSEY CITY REAL ESTATE MARKET REPORT

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1H2013 MARKET RECAP

In our last market report, we predicted prices to continue rising in 2013, however over the last 6 months the real estate market has exceeded our expectations in both valuation and activity. The market prices were driven up by extremely low inventory combined with rock bottom interest rates, and activity increased due to a sustained economic recovery and widespread positive news about the housing market rebound. With the apartment rental market holding steady at pric-es that have risen 20% in the past couple years, tenants looked to the advantages of home ownership and found a fierce-ly competitive bidding environment for the most desirable homes. Of the 430 condos closed in Hoboken during the first half of 2013, an astonishing 47% sold at or above the asking price, narrowing the average discount from asking to under 1%. Downtown Jersey City experienced a similar market with 39% of condos selling at or over asking.

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Townhomes also traded very well resulting in average prices moving up almost 15% in Hoboken since 2012 and several Hoboken properties sold well above the $2M mark. Downtown Jersey City townhomes also saw a high demand pushing prices up 25% from 2012 but sales were restrained from a lack of supply resulting in the total sales volume moving down 30%.

In spite of interest rates moving up over the past month, rates are still considered to be near historic lows and we have seen the increase as a motivating factor for potential buyers to act now or pay a higher rate in the future. With a short-age of new construction condominium developments coming online in the near future in Hoboken and Downtown Jersey City, we foresee property values continuing to rise throughout the remainder of 2013.

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Thanks for reading our newsletter! 

 

Please don’t hesitate to contact us if you have any questions, comments or concerns.

                    Peter Cossio           Clare Cossio            Lindsey Brown                Matt Brown

Hudson Realty Group at Halstead Property

  

hudsonrealtygroup@halstead.com

201.478.6709

 

                
 

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DISCLAIMER: ©2013 by Hudson Realty Group at Halstead Property New Jersey LLC.  All Rights Reserved.  This mail is for the named addressees only.  If you are not the intended recipient, please delete it from your files.  All information is from sources deemed reliable but is subject to errors, omissions, change of price, prior sale or withdrawal without notice.  No representation is made as to accuracy of any description.  All measurements and square footage are approximate and all information should be confirmed by customer.  Halstead Property and Hudson Realty Group do not represent the sale of the new construction developments highlighted in this newsletter.  All rights to content, photographs and graphics reserved to Broker.  This information may not be copied, commercially used or distributed without Halstead Property’s prior consent. 

Hudson Realty Group at Halstead Property NJ LLC  |  79 Hudson Street Hoboken NJ  |  201.380.3871

 

 

Hudson Realty Group is a closely integrated team with exceptional knowledge of the Hoboken real estate and Jersey City real estate markets. Our expertise includes: condosbrownstoneslofts and new developments