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Hudson Realty Group's Monthly Real Estate Newsletter for July 2014

 

HUDSON REALTY GROUP’S

 

MONTHLY REAL ESTATE UPDATE
 
JULY 2014 EDITION

YOUR SOURCE FOR HOBOKEN AND JERSEY CITY REAL ESTATE

HALSTEAD PROPERTY


  

REAL Trends is pleased to rank and honor

the best real estate agents in New Jersey and the metropolitan areas.

MORTGAGE RATES

BANKRATE.COM: NATIONAL MORTGAGE RATES
Rates: 4.31% (30-yr fixed)  | 0.33 (avg points)

“Mortgage rates edged up this week as investors tried to make sense of mixed economic data, including signs that the labor market has strengthened.The volume of mortgage applications from buyers and refinancers increased 1.9 percent last week from one week earlier, according to the Mortgage Bankers Association weekly survey.”

  

HUDSON REALTY GROUP LISTINGS

SEARCH MLS LISTINGS

612 GARDEN STREET, HOBOKEN

Open House Sun 7/27 from 1-4pm
   

– 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

1500 WASHINGTON STREET 10T, HOBOKEN

– Waterfront Studio at The Hudson Tea Building
– 735 SF Loft, Oversized Windows, 13’8 Ceilings
– Upgraded & Recently Renovated Kitchen & Bath
– Full Service Elevator BLDG, 24-Hour Concierge
– Gym, Community Room, PATH Shuttle
– Asking: $499,900

100 GARDEN STREET 2C, HOBOKEN
  
– Spacious 850 SF, 2 Bed, 1 Bath Condo
– Generous Living Area, Separate Dining Area
– Recently Remodeled Kitchen
– Washer/Dryer in the Unit, New Windows
– Close to The Hoboken PATH
– Asking: $3,000/monthly

92 MADISON STREET 3B, HOBOKEN
(UNDER CONTRACT)
  
– Stunning Corner Condo in Elevator Building
– 18 Windows, 1089 SF, 2 Bed, 2 Bath w/ Parking
– 9’2 Ceilings, Upgraded Kitchen with a Window
– Master Bedroom: Dual Closets, Master Bath
– Full Size Side-By-Side W/D, Recessed Lighting
– Asking: $649,900

452 2ND STREET 7, HOBOKEN
(UNDER CONTRACT)
  
– Top Floor South Facing Home
– 2 Beds, 2 Baths, 1342 SF, Private Roof-Deck

– Open Floor Plan, Lofted Ceiling, Crown Molding
– Renovated Kitchen with a Breakfast Bar
– 1 Parking Space w/ Stroage Cage in Garage
– Asking: $699,900 

108 MONROE STREET 2A, HOBOKEN
(UNDER CONTRACT)
  
– 1224 SF, 2 Bed, 2 Bath in Elevator Building
– Open Floor Plan, Bay Window
– Master Bedroom with Dual Closets
– Washer/Dryer and Extra Large Parking Space

– Asking: $674,900

100 BRIGHT STREET 2, JERSEY CITY
(UNDER CONTRACT)
   
– 1125 SF, 3 Bed, 1 Bath Condo in Van Vorst Park
– 280 SF Private Deck, Storage in the Basement
– Pocket Doors, Wide Plank Floors, Tin Ceiling
– Renovated Kitchen with a Large Pantry
– Asking $599,900

722 ADAMS STREET 8, HOBOKEN
(UNDER CONTRACT)
   
– Top Floor Duplex Condo with Garage Parking
– 1013 SF, 2 Beds, 2 Baths, Private Roof-Deck
– Renovated Kitchen with a Breakfast Bar
– W/D in the Unit, Bleached Oak Hardwood Floors
– Asking: $550,000

403 BLOOMFIELD STREET 1, HOBOKEN
(UNDER CONTRACT)

– 880 SF, 2 Beds, 1 Bath Condo w/ a W/D
– 15′ x 18′ Private Tree-Lined Garden Patio
– Renovated Kitchen w/ Silestone Counters
– Oak HWD Floors, Custom Built-Ins
– Asking: $525,000

4 MAGNOLIA AVENUE, JERSEY CITY
(UNDER CONTRACT)
  
– Jersey City’s HillTop Neighborhood
– 3-Story Historic Brick Townhouse
– 16.67 X 67 Lot
– 3 Beds, 2 Baths, 550 SF Basement
– 3 Original Fireplace Mantles, Historic Staircase
– Views of NYC & One World Trade Center
– Asking: $499,500

1500 GARDEN STREET 9H, HOBOKEN
(UNDER CONTRACT)
   
– 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: $499,000

700 1ST STREET 15U, HOBOKEN
(UNDER CONTRACT)
  
– 806 SF, 1Bed, 1 Bath Condo at The Sky Club
– Spacious Living Area, Gourmet Kitchen
– Cherry Hardwood Floors, Recessed Lighting
– Full Service DM Building, Gym, PATH Shuttle
– C/AC, Washer/Dryer, Custom Closet Organizers
– Asking: $449,900

REAL ESTATE AND COMMUNITY NEWS

NJBIZ: JERSEY CITY APARTMENT TOWER AIMS TO BLEND ARTS WITH LUXURY LIVING
“One of Jersey City’s newest residential towers is open for business, with a focus on integrating luxury apartments with the city’s historic Powerhouse Arts District. Known as the Art House, the 119-unit building has been completed by the Shuster Group and is slated for occupancy in September, according to a news release from the developer. The First Street property…”

HUDSONREPORTER HOBOKEN: APARTMENT/BOWLING ALLEY PROJECT SHUTDOWN
“the board voted 5-2 to deny variances for a mixed-use complex at the corner of 13th and Jefferson Street just south of the Viaduct. The 296-unit development would have featured a bowling alley, rock climbing gym, and two residential towers.”…

NORTHJERSEY.COM: JP MORGAN PAYS $14.7 MILLION FOR JERSEY CITY SITE
“JPMorgan Chase Bank, which is getting $224 million in tax incentives to stay in New Jersey, has paid $14.7 million to buy a building it was leasing at the Jersey City waterfront, according to company that tracks commercial real estate transactions. The bank acquired 575 Washington Boulevard, a 22-story building in Newport Center, from its landlord, the LeFrak Organization, according to CoStar.”…

HUDSONREPORTER: BRIDGE OPEN! VIADUCT FROM HOBOKEN TO PALISADE IS BACK AFTER $54M RENOVATION

“The new four-lane, 1177-foot long viaduct that fully opened Monday has been at least 10 years in the making. Scoping began in 2003, followed by construction in August 2011. The sides of the roadway were replaced one at a time, allowing traffic to flow in both directions—albeit sometimes slowly—on the other side.”…
“In proposing the redevelopment, city officials hoped to encourage the development of a property that has largely lain fallow for years. They do not see the property as encroaching on Hamilton Park, but rather blending into the vibrant skyscape of the Newport area, and possibly serving as anchor for future development along this same narrow north/south corridor.”…

HOBOKENNJ.ORG: HOBOKEN AWARDED $250,000 GRANT FOR SOUTHWEST PARK
“The new park is being designed to capture and store 100% of the stormwater on its property from a 10 year rain event (5 inches of rain). Through surface storage, rain gardens, bioswales, and an underground detention chamber, it will be able to hold over 200,000 gallons of water.”…

WSJ.COM: JERSEY CITY TAPS AEG LIVE TO MANAGE LOEW’S, ANNOUNCES THEATER OVERHAUL
…”city officials said that AEG Live, a company that books talent and manages venues nationwide, will manage the Loew’s Jersey Theatre and that the city will spend about $30 million to $40 million to overhaul the theater.The renovation plan calls for closing the theater sometime this year and…”

NJ.COM: CHRISTIE AWARDS $1.1M IN INFRASTRUCTURE GRANTS TO HOBOKEN, UNION CITY

“The grants will advance safety, drainage and pavement reconstruction projects in municipalities in six New Jersey counties, totaling $2.4 million. Hoboken will receive $750,000 for structural repairs to Frank Sinatra Drive, and Union City will receive $350,000 for resurfacing curbs and sidewalks on Summit Avenue.”…

THE NEW YORK TIMES: REEBOK FOUNDER PROPOSES 95-STORY TOWER WITH CASIONO FOR JERSEY CITY
“Known as Liberty Rising, the tower would include a casino, a hotel and apartments, along with expensive shops and an entertainment complex. There are also plans for what would be the world’s largest Ferris wheel and a 107,500-seat stadium for motor sports.”…

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.

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