HUDSON REALTY GROUP’S

 

MONTHLY REAL ESTATE UPDATE
 
FEBRUARY EDITION

 

YOUR SOURCE FOR HOBOKEN AND JERSEY CITY REAL ESTATE
   

UPCOMING OPEN HOUSE

 

 

MORTGAGE RATES

 

BANKRATE.COM: MORTGAGE RATES RISE, IMPELLED BY JOB GAINS
Rates: 3.9(30-yr fixed) 3.17%(15-yr fixed)

     

“Those who plan to get a mortgage in the near future don’t need to lose sleep over rising rates. Rates may bounce a bit higher, but they won’t skyrocket anytime soon, says Michael Moskowitz, president of Equity Now. Investors may be encouraged by the employment growth in the United States, but they remain concerned about the global economy and still view the States as a safe haven to park money.”…

 

 

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REAL ESTATE AND COMMUNITY NEWS

 

CITY OF HOBOKEN: MAYOR ZIMMER DELIVERS STATE OF THE CITY ADDRESS
“The state of the City of Hoboken is strong and growing stronger every day. The signs are everywhere. Pearson Education is bringing their headquarters and 900 jobs to Hoboken. Jet, an e-commerce startup that’s looking to take on Amazon, is….”

 

NJBIZ.COM: CHILD CARE CENTER SIGNS LEASE AT HOBOKEN COMPLEX

“The unparalleled accessibility of Waterfront Corporate Center and the high-quality roster of tenants that occupy this complex make this an ideal location for Kiddie Academy,” Steven J. Pozycki, CEO of SJP, said in a prepared statement. “The convenience of having a world-class early childhood learning center within a stone’s throw of so many job centers and such a major transportation hub cannot be…”

 

HUDSON REPORTER HOBOKEN: WAITING FOR DEVELOPMENT ON TOWN’S BORDERS

“The Western Edge has been designated for redevelopment since 2007. Nearly every public official in Hoboken agrees that its industrial zoning is woefully outdated. A planner was appointed for the site last May, and as of this past week…”

 

HUDSON REPORTER HOBOKEN: HOBOKEN SOUTHWEST PARK CONCEPT APPROVED
“The first stage of a planned Southwest Park could be ready for construction in July and completed by December, according to the landscape architecture firm contracted by Hoboken to produce a final design. Last September, Starr Whitehouse won a $358,000 city contract to design, engineer, and oversee…”

 

HUDSON REPORTER HOBOKEN: WELCOME TO NOVHO!

“Now that the multimillion dollar renovation of the 14th Street Viaduct in northern Hoboken is complete, various restaurants and businesses with hip amenities have opened just north of the historic bridge, as well as small residential buildings boasting unusual architecture. With a cobblestone path, new park, dog…”

 

NJ.COM: 950-FOOT TOWER TALLEST IN NJ ,. PLANNED FOR DOWNTOWN JERSEY CITY

“Developers are planning “the tallest building in New Jersey,” a 95-story residential tower, on the site of a Hudson Street parking lot, city officials announced today. China Overseas America is…”

 

NJ.COM: MANHATTAN YACHT CLUB MOVING TO JERSEY CITY MARINA

“The concept of Jersey City might sound far to some members, but it is very close. Traveling across the Hudson River to Jersey City is similar to traveling across the East River to Brooklyn,” Fortenbaugh wrote, adding that a commissioning ceremony for the club’s 2015 season will be May 9 in Jersey City. “And one of the great things about Liberty Harbor is that…”

 

NJBIZ.COM: ON JERSEY CITY WATERFRONT, CHANGES COMING FOR VENERABLE OFFICE BUILDIN
“That project calls for a redone façade, including a $5 million investment to replace all 1,800 of the building’s windows, Minatelli said. The façade replacement is already about 75 percent complete, and the firms will soon start on the interior work. Along with systems…”

 

NJBIZ.COM: AMERICAN DREAM OFFICIALS SAY MEADOWLANDS PROJECT EXPECTED TO RAMP UP

“Triple Five stepped in to reboot the project in late 2010. The Canadian developer, the owner of Minnesota’s Mall of America and the West Edmonton Mall, has also faced its own delays such as litigation with the New York Giants and Jets over how the project would affect game-day traffic at MetLife Stadium. But the firm appears poised to complete the project, which will be anchored by a…”

 

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

 

                
 

 

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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