HUDSON REALTY GROUP’S

MONTHLY REAL ESTATE UPDATE

APRIL 2014 EDITION

YOUR SOURCE FOR HOBOKEN AND JERSEY CITY REAL ESTATE

HALSTEAD PROPERTY CELEBRATES 30 YEARS

COMMUNITY EVENT

Get Your Game On: Support Education in Our Community

Swing Fore The Schools Golf Outing – 2014

The 2014 Swing Fore the Schools Golf Outing is celebrating their 4th year!
Held at the incomparable Crystal Springs Resort, Monday May 19th at 11am.

Come out and show your support for 6 local schools in your community: Elysian Charter School, Hoboken Charter School, Hoboken Dual Language Charter School (HOLA), All Saints Episcopal Day School, Mustard Seed School & Stevens Cooperative School.

HALSTEAD PROPERTY NJ – NEW OFFICE LOCATION



OUR OFFICE HAS MOVED TO
200 WASHINGTON STREET IN HOBOKEN NJ

After five years of success at 79 Hudson Street, Halstead Property has taken it’s Hoboken operations to a new level to a space more than 3 times as large, ideally located on the bustling corner of 2nd and Washington Street. The space has full two floors and over 3800 SF allowing for an inviting storefront level and a more private second floor area. The space was completely renovated as a state of the art real estate office featuring room for 50 agents (twice as many desks as the former location) and a storefront consisting of the Inman News’ Most Innovative Brokerage Tool of 2013 – our Touch Screen Real Estate Search Technology, LED Window Displays, publicly available WiFi, and much more.

MORTGAGE RATES

BANKRATE.COM: MORTGAGES DROP; ARE THEY ABOUT TO BOUCE?
Rates: 4.43% (30-yr fixed) | 0.33 (avg points)

Mortgage rates dropped for the second week in a row amid mixed economic news abroad and in the United States. But don’t expect this to become a trend because it is unlikely that rates will drop much further, experts say. The benchmark 30-year fixed-rate mortgage fell to 4.43 percent from 4.47 percent the previous week, according to the Bankrate.com national survey of large lenders. One year ago, that rate stood at 3.61 percent. Four weeks ago, it was 4.46 percent. The benchmark 5/1 adjustable-rate mortgage fell to 3.32 percent from 3.34 percent. The benchmark 30-year fixed-rate jumbo fell to 4.43 percent from 4.48 percent.”…

HUDSON REALTY GROUP LISTINGS

SEARCH MLS LISTINGS

612 GARDEN STREET, HOBOKEN

- Developed and Designed by Hudson Realty Group
– No Expense Spared, Complete Gut Renovation
– Single Family Townhome w/ 5 Beds, 5.5 Baths
– 3850 SF of Living Space Over 4 Levels
– Two-Tiered Garden with Bluestone Patio
– Custom Cabinetry in
Kitchen & Bathrooms

– Thermador Professional Appliance Package
– Waterworks, Toto, Hans Grohe & Kohler Fixtures

– Tile: Ann Sacks, Waterworks & Walker Zanger

– Oversize Marvin Windows and Doors Throughout

– Wired for Distributed Audio with SONOS System

– 3.75 kW Photovoltaic Solar Panel System
– Whole House Natural Gas Back-Up Generator
– 4 Skylights, Video Entry and Intercom System

– 2 Gas Fireplaces Surrounded by Built-in Cabinetry

– Asking: $3,000,000

66 MADISON STREET 2, HOBOKEN

– True 3 Bedroom Condo with a Desirable Layout
– 1336 SF, 3 Bed, 2 Bath Condo with Parking
– Separate Living Room with Bay Window
– Renovated Kitchen, Expansive Dining Area
– Central HVAC, Crown Molding, Washer/ Dryer
– Asking: $650,000

1500 GARDEN STREET 9H, HOBOKEN

– Harborside Lofts, Luxury Waterfront Building
– Incredible Space and Light, 702 SF Studio Loft
– 13′ Ceilings, Dramatic Oversized Windows, W/D
– Top of the Line Finishes, Wide-Plank HWF
– 24 Hour Concierge, Gym, Pool, Roofdeck
– Asking: $550,000

98 BRIGHT STREET 2L, JERSEY CITY

OPEN HOUSE SAT 4/19 FROM 1-3PM

– Charming 665 SF 1 Bedroom, 1 Bath Condo
– Located Around the Corner from Van Vorst Park
– Renovated Kitchen, 10’5 x 9’9 Private Terrace
– Crown Molding, Custom Closets
– Asking: $335,000

1118 BLOOMFIELD STREET, HOBOKEN
(UNDER CONTRACT)

– Expertly Renovated Single Family Townhouse
– Featured on Hoboken House & Garden Tours
– 4 Large Bedrooms, 2 Full Baths, 2 Half Baths
– 4 Floors of Living, Full Basement, Backyard
– Superb Collection of Period Details
– Asking: $2,100,000

650 2ND STREET 5C, HOBOKEN
(UNDER CONTRACT)


– Expansive Top Floor, 1805 SF, 3 Bed, 2 Bath
– Home Office, 11×7 Balcony, Deeded Parking
– 10’3 Ceilings, Large Skylight, Open Floor Plan
– Spacious Modern Kitchen, Dining Area
– Central AC, Crown Molding, W/D

– Asking: $849,900

1100 ADAMS STREET 615, HOBOKEN
(UNDER CONTRACT)

– Upper Grand, Concrete Elevator Building
– 1148 SF Penthouse Home
– 2 Bedrooms, 2 Baths, Terrace & Parking
– Open Floor Plan, Oversized Chef’s Kitchen
– Recessed Lighting, Washer/Dryer, C/AC
– Gym, & Common Courtyard
– Asking: $700,000

509 WILLOW AVENUE 2, HOBOKEN
(UNDER CONTRACT)

– Located Near Church Square Park
– 850 SF, 2 Bed, 1 Bath Condo
– Open Floor Plan, Recently Renovated Kitchen
– Seperate Living/Dining Area
– Bedrooms Face the Courtyard
– Asking: $450,000

SKY CLUB, 700 1ST STREET 12L, HOBOKEN
(UNDER CONTRACT)

– Modern 900 SF, 1 Bedroom, 1 Bath, Balcony
– Amazing Views of NYC from the 12th Floor
– Spacious Living Room w/ Open Kitchen
– Brazillian Floors, Central AC, W/D
– 24Hr Doorman, Commuter Shuttle, Health Club
– Asking: $499,900

650 MONTGOMERY ST 303, JERSEY CITY
(UNDER CONTRACT)

– m650 Flats: Award Winning Development
– Modern Design, 1025SF, 1BD/1BA Condo Loft
– Italian Kitchen Cabinets, Ceasarstone Counters

– Exposed Brick, Bamboo HW Floors, C/AC, W/D
– Virtual DM, Common Rooftop Terrace & Garage
– Asking: $399,900

REAL ESTATE AND COMMUNITY NEWS

NJ.COM: JERSEY CITY OPENS ECO-FRIENDLY LUXURY APARTMENT BUILDING

“The (city’s) planning department has been really great on making sure that the development community understands the importance of this to the community and we are going to continue to push this,” Fulop said about the building’s eco-friendly features. The building is at 120 York St. in the city’s Paulus Hook neighborhood, blocks away from the Exchange Place PATH station.”…

HUDSON REPORTER HOBOKEN: 135 – UNIT APARTMENT BUILDING TO RISE ON WEST SIDE

“One of the remaining patches of vacant land in the city is about to become the home of an environmentally-friendly residential tower. Two developers held a groundbreaking ceremony Tuesday to kick off construction of their 135-unit rental project at 900 Monroe St., which will rise next to light rail tracks on the west side of town.”…

NJBIZ.COM: SJP PROPERTIES, THOMSON REUTERS INK MAJOR EXPANSION DEAL IN HOBOKEN

“SJP Properties has signed a 72,000-square-foot lease expansion in Hoboken with Thomson Reuters, allowing the global media company to move ahead with its plan to bring 450 new employees to the city. The company will grow its footprint at SJP’s Waterfront Corporate Center II, the Parsippany-based developer announced…”

BLOOMBERG: HOME SALES IN U.S. POISED TO SURGE WITH SPRING: MORTGAGES
“Frustrated shoppers and would-be sellers like the Cicerones are setting the pace for the housing market’s spring selling season, the March through June period when more than half of U.S. home sales take place. The market’s getting a late start this year because so much of the country has been in the grips of bad weather, said Dean Maki, chief U.S. economist for Barclays…”

HMAG: HOBOKEN GOES GLOBAL

“Walking down Washington Street has always been one of the best reasons to live and visit Hoboken. You can see all the great shops that have staked claim to Hoboken as the place to open their business. From the Mom & Pop shops to the familiar franchise chains, we are able to find just about anything we are looking for from food to clothing to products.”…

NJ.COM: REAL ESTATE FIRM BUYS HOBOKEN LUXURY DEVELOPMENT FOR $33.5M
“Hoboken – A Chicago real estate firm has bought a new Hoboken development for $33.5 million, following news that the uptown residential building rented out all of its units. LaSalle Investment Management purchased The Artisan, a luxury residential development located at 1400 Clinton Street and 1440 Grand Street in Hoboken…”

HOUZZ.COM: 7 MUST-DOS ON THE DAY YOU SHOW YOUR HOUSE
“The “For Sale” sign is up. You’ve completed the big projects and the little tweaks, so you’re hopeful your efforts will pay off with a quick and profitable offer. But now comes the most critical part of the home-selling cycle: the day of a showing or an open house. A negative first impression can directly translate into dollars off a full asking price.”…

THE NEW YORK TIMES: A NEW WEAPON FOR BIDDING WARS

“In response to the fierce competition for homes in healthy metropolitan markets like those surrounding New York City, some mortgage lenders are taking steps to put buyers who must borrow on par with those offering to pay in cash.”…

FORBES: 5 REASONS TO RECONSIDER SELLING YOUR HOME ON YOUR OWN
“Selling your home yourself is not the money-saving solution you may have thought it would be. The dollars you think you’ll save on commissions is often a wash when you consider the higher sales price an experienced agent – with pricing expertise, negotiating skills, and access – can bring in. Real estate professionals have the resources to get top dollar for your home,…”

HOUSINGWIRE.COM: AMERICAN OPTIMISM TRENDS HIGHER AS HOME BUYING SEASON STARTS

“According the latest Fannie Mae National Housing Survey, the share of respondents who say it is a good time to sell a home escalated to 38% in March, up from 26% for the same period…”

HOBOKEN AND JERSEY CITY REAL ESTATE MARKET REPORT


2H2013 MARKET RECAP


Hoboken and Downtown Jersey City prices have continued their upward trajectory and have now exceeded previous rec-ord highs achieved before the financial collapse of late 2008. After several years of relatively stagnant pricing, 2013 brought a surge in condo pricing of 10-11% over prices seen just a year before. In 2013, the average price for a Hoboken condo was $572,000, up 15% from 2010 and in Downtown Jersey City, the average condo price in 2013 was $541,000, up 22% from the low in 2009. Driven by a recovering economy, low interest rates and a general consensus that prices are on the rise, buyers often found themselves competing for choice properties and paying above the seller’s asking price.

Multiple offer situations were also commonplace in the townhome market, driving pricing up and leaving many buyers without a property at the end of the year. 2013 average townhome pricing in Hoboken was $1,232,000, up 16% from 2009 lows and Downtown Jersey City townhome prices increased a dramatic 41% from 2009 to 2013.

Looking ahead to 2014, we anticipate property values will continue to rise due to solid demand combined with a lack of inventory and the absence of new condo development coming online in the near future. Considering the recent in-crease in property values, we also expect to see an increased volume of activity in 2014 now that homeowners that pur-chased in 2005-2007 are regaining equity in their properties.

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


DISCLAIMER: ©2014 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

200 Washington St 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