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HUDSON REALTY GROUP’S
MONTHLY REAL ESTATE UPDATE
FEBRUARY 2016 EDITION
YOUR SOURCE FOR HOBOKEN AND JERSEY CITY REAL ESTATE
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REAL ESTATE AND COMMUNITY NEWS
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 NYTIMES.COM: MOVING TO JERSEY CITY? JOIN THE CLUB
“As its population soars, new housing rises and buyers get wind of the quick train commute it offers to New York, Jersey City is shedding its dingy image and emerging as a destination of choice.”…
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 WHY IS THE HOBOKEN LAND AND IMPROVEMENT COMPANY SO IMPORTANT?
“Upon this political foundation the Stevens family, established the Hoboken Land and Improvement Company in 1838. Originally started as a means to manage the family interests, it was eventually used for greater things. The aim of the corporation was to turn the waterfront into an international…”
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 JERSEYDIGS.COM: 87 NEWKIRK STREET PROJECT MOVING FORWARD UNDER NEW OWNERSHIP
“The new owner is looking to immediately move forward with developing the vacant 12,145-square-foot lot with the construction of a 12 story residential and retail building. The site has already been approved by the city for 111 residential units and 5,000 square feet of retail space along with a roof deck, bicycle parking and a garden area.”…
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 NJ.COM: PLAN TO LOWER PARKING MINIMUMS IN JERSEY CITY SPURS ANGER
Developer LeFrak had originally agreed to set aside 163 spots for the 163 units in its Revetment project, a six-story building going up on a block of the 10th Street Embankment in the Hamilton Park neighborhood. But tomorrow it will appear before the Planning Board to request lowering the required number of spaces…”
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 JERSEYDIGS.COM: ON THE WATERFRONT: HOBOKEN’S LAST DROP
“In 2008, Toll Brothers opened one of the most luxurious communities in Hoboken. Maxwell Place now stands where Maxwell House was once the face of the city. The 24 acres of waterfront land that previously employed over 600 people, consists of over 800 individual condos today.”…
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 FORBES.COM: THE HAPPIEST CITIES TO WORK IN RIGHT NOW – JERSEY CITY #2
“To determine the happiest and unhappiest places to work, fulfillment-focused career site CareerBliss took a look at eight key factors that can influence an employee’s contentment, including work-life balance, an employee’s relationship with his or her boss and co-workers, general work environment, compensation, opportunities for advancement, company culture, and…”
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HOBOKEN AND JERSEY CITY REAL ESTATE MARKET REPORT
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MARKET RECAP
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The residential real estate market in Hoboken and Downtown Jersey City closed out 2015 continuing the upward trend in sales activity and pricing we have seen over the last 4 years. Since 2011, condo prices have increased 38% (9.5% per year) in Hoboken and 49% Downtown Jersey City (12.4% per year). Over the 2nd half of 2015, inventory remained at all-time low levels with only 1 to 1.5 months of supply. Strong demand resulted in widespread competition for all property types and multiple bids were commonplace resulting a fast paced market with an average selling price very close to asking (46% of condos sold within 2 weeks on the market)….<continued in report>
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 BANKRATE.COM: MORTGAGE RATES FALL, ALONG WITH STOCK PRICES AND NEW HOME SALES
“The fluctuations in oil prices continue to impact the global economy, and markets were also upset by the slump in consumer confidence. The Conference Board said Tuesday that its index fell to a 7-month low due to Americans growing more pessimistic about business conditions, employment opportunities and the stock market.”…
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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.
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HMAG: TOP OF THE HEAP: HOBOKEN HOUSING MARKET RANKS AS NEW JERSEY’S HEALTHIEST
HUDSONREPORTER HOBOKEN: FOLLOWING OUTCRY, BIKE LANES NO LONGER MANDATORY AS PART OF WASHINGTON STREET REDESIGN PLAN
NEWYORKYIMBY.COM: FOUNDATION WORK BEGINS FOR 15-STORY, 255 MIXED-USE BUILDING AT 213 VAN VORST STREET, JERSEY CITY
