HUDSON REALTY GROUP’S

 

MONTHLY REAL ESTATE UPDATE
 
MARCH 2014 EDITION

YOUR SOURCE FOR HOBOKEN AND JERSEY CITY REAL ESTATE

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.

HALSTEAD PROPERTY INNOVATIVE MARKETING

 

DRONE HELICOPTER

BROWNSTONE VIDEO TOUR

OF
1118 BLOOMFIELD ST, HOBOKEN

DRONE: BEHIND THE SCENES

 

NY TIMES: HALSTEAD’S PIONEERING MARKETING USE OF DRONES RECEIVES GLOBAL ATTENTION

HELP HOBOKEN GO GREEN

“4,000 HEALTHY TREES IN HOBOKEN BY 2020”

HOBOKEN SHADE TREE COMMISSION – REQUEST A TREE FOR SPRING 2014
   

Help the Shade Tree Commission achieve thier goal of having 4000 healthy street trees planted by 2020. If you don’t have an existing tree well, they will open one for you! If you are a Hoboken property owner, you can have a street tree planted by the Commission in 2 ways:
  
1.) I
n exchange for just $100 and your pledge to care for and water your tree, your request will be put on our first come first serve tree planting list! This list is subject to available budget, not every applicant is guaranteed a tree.2.) Help support the Hoboken Shade Tree Commission and be assured a spot in our 2014 tree planning by assuming the entire cost of your tree planting. Cost will vary depending on tree location, pit opening requirements, and chosen vendor.  Estimates range from $500-$800,  are subject to change and cannot be guaranteed.
   

MORTGAGE RATES

BANKRATE.COM: INTEREST RATE ROUNDUP

Rates: 4.5% (30-yr fixed)  | 0.34 (avg points)
   
“Mortgage rates edged up this week after a better-than-expected February jobs report surprised investors. The 30-year fixed-rate mortgage rose 5 basis points to 4.5 percent. A basis point is one-hundredth of 1 percent. The 15-year fixed-rate mortgage rose 5 basis points to 3.51 percent. The average rate for a 30-year jumbo mortgage followed the trend and rose 5 basis points to 4.54 percent. A jumbo mortgage is generally a loan of more than $417,000. The 5/1 adjustable-rate mortgage rose 4 basis points to 3.3 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

 

509 WILLOW AVENUE 2, HOBOKEN
  

– 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

650 MONTGOMERY ST 303, JERSEY CITY
 
– 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

157 10TH STREET 1, HOBOKEN
  

– Gut Renovated Garden Level Apartment
– Foyer Entry, 750SF, 1 Bedroom, 1 Bath
– C/AC, Hardwood Floors, W/D in the Unit
– Stainless Steel Appliances, Granite Counters
– Close to NYC Transport, Restaurants/Shops
– Asking: $2,400/monthly

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

113 WILLOW AVENUE 2, HOBOKEN
(UNDER CONTRACT)

  
– Rare Trio: Location, Terrace & Parking
– 1326 SF, 2BD/2BA, 850SF Wrap Around Terrace

– Open Floor Plan, Master Suite, Custom Closets
– CAC, Recessed Lighting, Built-in Speakers, W/D
– Parking Space, Deeded 4×10 Storage Unit
– Asking: $849,000

176 SHERMAN AVE PH1, JERSEY CITY
(UNDER CONTRACT)
      

– One-of-a-Kind Penthouse at The Bakery Lofts
– 1642 SF Interior & 400 SF Exterior
– 11′ Ceilings, 19 Windows, NYC Views
– Brazilian Hardwood Floors, Exposed Ducts

– Central AC, W/D in Unit, 2 Parking Spaces
– Asking: $549,000

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

501 ADAMS STREET 4H, HOBOKEN
(UNDER CONTRACT)
  
– Adam’s Square: Converted 1870’s School House
– Stunning Architectural Features

– Elevator Building with a Gym
– Unique 685 SF, 12’5 Ceilings, 1 Bed, 1 Bath

– Original Hardwood Floors, Ample Closet Space
– Asking: $375,000

 Hudson Realty Group has exceptional knowledge of the Hoboken real estate and Jersey City real estate markets. 

REAL ESTATE AND COMMUNITY NEWS

THE REAL DEAL: DRONE ON: JUDGE LIFTS FAA BAN ON UNMANNED AERIAL VEHICLES

“Major brokerages, real estate photographers, developers and marketing firms have deployed drones to capture unique aerial views of high-end properties for marketing purposes since early 2010, as The Real Deal previously reported. Halstead Property was the first New York City”…

HUDSON REPORTER: CITY APPROVES $100K MORE TO FIGHT PIER DEVELOPMENT – DEVELOPER CALLS ZIMMER APPROACH ‘FRIVOLOUS’ AND ‘HIGHLY QUESTIONABLE’

“Mayor Dawn Zimmer has sent a strongly-worded letter to the Hoboken City Council asking for $100,000 more to fight a lawsuit filed by a local developer who wants to build two residential buildings on the 15th Street pier. The city has already paid one law firm $340,000 to fight the project. The developer, Shipyard Associates,”…

REUTERS: WALL STREET CASH BONUSES HIGHEST SINCE 2008 CRASH: REPORT

“NEW YORK (Reuters) – The average bonus on Wall Street jumped 15 percent last year to the highest level since the 2008 financial crisis and was the third largest on record, New York State’s budget watchdog said on Wednesday. The cash bonus pool swelled to $26.7 billion in 2013, pushing the average cash bonus to $164,530, a post-2008 high in a industry shrunk by”…

NJ.COM: PREVIEW PERIOD PLANNED FOR NEW WARREN AT YORK IN JERSEY CITY’S PAULUS HOOK

“Warren at York, the newest luxury rental building to be introduced in Jersey City’s historic Paulus Hook neighborhood, is close to opening for a special preview period, developer BNE Real Estate Group announced. Renters who visit during the preview period can tour select floors of the building and lock in early bird rental prices prior to the grand opening in April. More”…

THE REAL DEAL GIVES HALSTEAD PROPERTY AN “A” FOR SOCIAL MEDIA
“In this month’s March Issue of the Real Deal Magazine, the popular real estate publication graded the top real estate firms for their use of Social Media and wouldn’t you know it but Halstead Property received a top grade of an A joining Corcoran Group at the top above all other firms. Here is the excerpt on why Real Deal Magazine gave Halstead Property such high marks: Like Corcoran, Halstead engages with its followers in a way that drives traffic to its”…

NY POST: JERSEY CITY IS REACHING FOR THE SKY

“The sky’s the limit for Jersey City’s Journal Square neighborhood. Literally. Situated in the western half of Jersey City, three PATH train stops from Lower Manhattan, Journal Square was once one of city’s most prosperous quarters. The area, though, has largely missed out on the waves of development that have, over the last few decades, transformed the Jersey City”…

NJ.COM: RENDERINGS RELEASED FOR LONG-INSTALLED JOURNAL SQUARE TWIN TOWERS PROJECT

“But now there is a small sign of hope that the long-stalled project is back on track, with architectural firm Humphreys & Partners posting new renderings of the proposed development, known as City Center Towers, on its website. A Humphrey & Partners spokeswoman would only confirm that the renderings are indeed new.”…

TRULIA TRENDS: BUYING A HOME 38% CHEAPER THAN RENTING – BUT HOW RISKY IS IT?

“Though the gap is narrowing, buying costs less than renting in all 100 large U.S. metros. But uncertainty about future home price appreciation means buying isn’t always a safe bet. Homeownership remains cheaper than renting “…

BLOOMBERG: SALES OF NEW U.S. HOMES RISE TO A FIVE-YEAR HIGH

“Purchases of new U.S. homes unexpectedly climbed in January to the highest level in more than five years, showing underlying strength in the industry even in the midst of unusually harsh weather. Sales increased 9.6 percent to a 468,000 annualized pace, exceeding the”…

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 Cosio            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