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COMMUNITY EVENT

 

Get Your Game On: Support Education in Our Community

Swing Fore The Schools Golf Outing – 2015  
     
The 2015 Swing Fore the Schools Golf Outing is celebrating their 5th year!

Held at the incomparable Crystal Springs Resort, Thursday June 4th 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. 

       

 

REAL ESTATE AND COMMUNITY NEWS

 

CITY OF HOBOKEN: CONSTRUCTION TO BEGIN ON COMPLETE STREET REDESIGN OF OBSERVER HIGHWAY

“The new design will reduce traffic delays and prevent collisions. Along with these essential changes, the Observer Highway and Vezzetti Way corridor will be converted to a more pedestrian-friendly street with new, redesigned crosswalk signals and other pedestrian safety improvements as well as a two-way protected bike lane.”…

 

NJBIZ.COM: THE $3,000 APARTMENT

“With the county projected to reach that benchmark next year, experts say it’s just another resounding sign of just how hot the Gold Coast is. And that’s an average that includes less-expensive parts of the county, meaning rents along the waterfront are even higher — bringing the number up to the $3,000 mark.”…

 

HUDSONREPORTER.COM: NOT JUST ON THE WATERFRONT
“The outlines of a new transit-oriented development on excess land in the NJ Transit rail yards were set by a redevelopment plan approved by the City Council in December, but the actual height, bulk, density and style of the buildings will only be determined officially…”

 

 

HUDSONREPORTER: HOLD UP IN HOBOKEN’S WILD WEST

“Of the four redevelopment or rehabilitation areas for which Hoboken currently has professional planners, the Western Edge has come closest to fruition in the past. In both 2008 and 2010, draft plans were presented to the City Council and subsequently tabled. Last June, Zimmer predicted that the Western Edge planning process would “move forward on an expedited schedule” because the city had “market reviews and other information from a prior study.”…

 

TIMEOUT.COM: THE BEST JERSEY CITY RESTAURANTS AND BARS

“Jersey City’s dine-and-drink scene is growing—and growing fast—gaining gastro cred thanks to the likes of Dale Talde (Pork Slope, Thistle Hill Tavern), Kevin Pemoulie and the team behind the not-so-secret West Village speakeasy the Garret, who are launching some of the coolest places in New Jersey.”…

 

NEWYORKER.COM: IRON MAYOR

“In January, Fulop announced that Jersey City will start a program that connects to Citibike, in New York, allowing a person to hop on a bike, ride it to the PATH station, turn in the first bike, and pick up a new one on the other side of the river. He envisages the program attracting New Yorkers who want to spend the day in Jersey City. “The views of Manhattan are second to none,” he said.”…

 

NY.CURBED.COM: IT’S OFFICIAL ONE WORLD TRADE WILL OPEN MAY 29

“The observatory will sit 1,250 feet above the street, on the 100, 101, and 102 floors of One World Trade Center, and the trip to the top will only take 60 seconds, thanks to the high-speed elevators called Sky Pods. The show starts before guests even board the elevators.”…

 

NJBIZ.COM: JERSEY CITY TO REPORTEDLY CONSIDER LIMITING CHAIN STORES TO CITYS DOWNTOWN
“… the proposal would mandate that just 30 percent of the city’s downtown commercial space would be available for rent by businesses with at least 10 or more properties within 300 miles of the city.”…

HALSTEAD 1Q2015 MARKET REPORT HOBOKEN / JERSEY CITY

 

HOBOKEN ALL APARTMENTS   
“Apartments in Hoboken fetched an average of $638,233 during the first quarter of 2015, a 12% improvement from a year ago. Apartments spent an average of 39 days on the market, 5% less time than the first quarter of 2014. On average, apartments sold for 99.6% of their asking price, up from 98.8% during the same quarter of 2014.”

JERSEY CITY ALL APARTMENTS
“The average price paid for an apartment in Downtown Jersey City rose 7% to $616,872 from a year ago. A larger increase was seen in the median price, which at $537,500 is a 9% increase compared to the first quarter of 2014. Apartments spent 28% more time on the market than a year ago, at an average of 50 days. Sellers received 99.5% of their asking price during the first quarter, up from 98.6% a year ago.”

 

MORTGAGE RATES

 

BANKRATE.COM: MORTGAGE RATES PAUSE AS HOMEBUYERS GET MOVING
Rates: 3.79(30-yr fixed) 3.03%(15-yr fixed)
  
“The volume of purchase applications this week increased by 5 percent from the previous week, according to the Mortgage Bankers Association. That marks the fourth rise in five weeks…”

 

HOBOKEN AND JERSEY CITY REAL ESTATE MARKET REPORT

 

 


  
M
ARKET RECAP
   

Hoboken and Jersey City’s residential real estate market continued to move at a brisk pace over the 2nd half of 2014 with widespread multiple offers that tested buyers and thrilled sellers. Properties went into contract in an average of just over 30 days at a discount of less than 1% below the asking price.  The market sustained it’s upward trend for pricing and volume for both condominiums and townhomes, setting all-time records in many categories.  The overall dollar volume of residential property sales in Hoboken reached $704M, 28% above the previous record of $551M set in 2007.  Jersey City also set a record high at $427M, 58% more than 2007 levels but only 2% above 2013’s record of $417M.  2014 was the first year the average condo prices and price per square foot in Downtown Jersey City exceeded that of Hoboken with averages of $608k vs $603k and $602/SF vs $589/SF. <continiued in report>

 

 

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: ©2015 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