HUDSON REALTY GROUP’S

MONTHLY REAL ESTATE UPDATE

JUNE 2014 EDITION

YOUR SOURCE FOR HOBOKEN AND JERSEY CITY REAL ESTATE

HALSTEAD PORTFOLIO


The Halstead Property Portfolio Magazine Spring/Summer 2014 edition is now available on-line and at all Halstead locations. The Portfolio is the recipient of the best marketing piece from Leading Real Estate Companies of the World surpassing over 600 other worldwide and national entrants. The magazine is inserted into the entire Tri State Circulation of the Wall Street Journal Home and Newsstand Delivery to a readership over 300,000.

MORTGAGE RATES

BANKRATE.COM: NATIONAL MORTGAGE RATES
Rates: 4.33% (30-yr fixed) | 0.35 (avg points)

“The benchmark 30-year fixed-rate mortgage fell to 4.33 percent from 4.34 percent the previous week, according to the Bankrate.com national survey of large lenders. One year ago, that rate stood at 4.12 percent. Four weeks ago, it was 4.29 percent. The mortgages in this week’s survey had an average total of 0.35 discount and origination points.”…

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

92 MADISON STREET 3B, HOBOKEN
OPEN HOUSE SUNDAY 6/22 FROM 1-3PM

– 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

2 2ND STREET 2005, JERSEY CITY

– 1371 SF, 2 Bed, 2.5 Bath Condo at Crystal Point
– Floor To Ceiling Windows, w/ a Balcony
– Open Kitchen/Living Area, Eastern Views
– Full Service Doorman Building, Pool, Sundeck
– Rent Includes 1 Valet Parking Space
– Asking: $5,000/monthly

1125 MAXWELL LANE 1021, HOBOKEN

– 895 SF, 1 Bed, 1.5 Bath Condo at Maxwell Place
– 10th Flr, South Exp, Hudson River & NYC Views
– Large Windows, Modern Kitchen, W/D
– Full-Service Doorman Building, PATH Shuttle
– Rooftop Pool, Fitness Center, Garage Parking

– Asking: $3,850/monthly

1021 WILLOW AVENUE, HOBOKEN
(UNDER CONTRACT)

– Magnifent Gut Renovation & Full Extension
– 4440 SF Over 4 Floors

– Lot Size: 20 X 100
– Modernized with Turn of the Century Details

– 5 Beds, 3.5 Baths, Garden w/ Bluestone Patio
– Expansive Chef’s Eat-In-Kitchen
– Enormous Master Bedroom and Bath
– Historic Curbed Staircase and Bannister
– Central Vac System, 10-Zone SONOS System
– Internal and External Video Surveillance System
– Asking: $2,495,000

1241 GARDEN STREET, HOBOKEN
(UNDER CONTRACT)


– Expansive 4-Story Brownstone on 18 X 100 Lot
– 3150 SF, 4 Bedrooms, 2 Full Bath, 1 Half Bath
– Restored Brownstone Facade, Painted Cornice
– Chef’s Kitchen, Sun-Filled Breakfast Nook
– Original Staircase w/ a Mahogany Bannister
– Asking: $1,950,000

1100 ADAMS STREET 615, HOBOKEN
(UNDER CONTRACT)

– Upper Grand, Concrete Elevator Building
– 1148 SF Penthouse Home
– 2 Bedrooms, 2 Baths, Terrace & Parking
– Open Floor Plan, Oversized Chef’s Kitchen
– Recessed Lighting, Washer/Dryer, C/AC
– Gym, & Common Courtyard
– Asking: $700,000

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 Pine 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

THE SKY CLUB – 700 1ST STREET 15U, HOBOKEN
(UNDER CONTRACT)

– 806 SF, 1Bed, 1 Bath Condo with a Balcony
– 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

98 BRIGHT STREET 2L, JERSEY CITY
(UNDER CONTRACT)

– Charming 665 SF 1 Bedroom, 1 Bath Condo
– Located Around the Corner from Van Vorst Park
– Renovated Kitchen, 10’5 x 9’9 Private Terrace
– Crown Molding, Custom Closets
– Asking: $335,000

REAL ESTATE AND COMMUNITY NEWS

HMAG: ON THE (BETTER) WATERFRONT
“It’s a gorgeous summer morning, so you head over to Pier A. But when you get there, you find a 33-story office tower blotting out the sun. No, it’s not a lost episode of The Twilight Zone. This would’ve been reality, according to the city’s development plan for the south waterfront in the late 1980s. Thankfully, a volunteer group that would become the Fund for a Better Waterfront prevented it from happening…”

NJ.COM: 20-YEAR TAX BREAK FOR JERSEY CITY HOTEL GIVEN INITIAL OK
“A proposed 20-year tax break for a $40 million Hyatt House hotel planned for Exchange Place in Jersey City received initial approval from the City Council last night. The long-term tax abatement, which city officials defended by saying it would lead to jobs for city residents…”

CNNMONEY.COM:MORE HOMEOWNERS BECOMING LANDLORDS

“Low mortgage rates and soaring rents have convinced a growing number of homeowners to hang onto their former homes and become landlords instead. “Clients tell us all the time, ‘We’re never going to sell our home, even after we buy a new one,'” said Glenn Kelman, CEO of the brokerage, Redfin.”…

HUDSONREPORTER: BOWLING, ROCK CLIMBING PROPOSED FOR NW HOBOKEN

“The Hoboken Zoning Board of Adjustment is in the process of reviewing an 80,000 square foot, $110 million project that would bring a bowling alley and rock climbing gym to the city’s rapidly-expanding northwest neighborhood. The mixed-use project is being proposed by the same developers who in 2012 renovated the building which now holds Pilsener Haus….”

HUDSONREPORTER: ON THE RISE – JERSEY CITY REAL ESTATE GETTING HOTTER; TWO DEVELOPERS MAKE MAJOR ANNOUNCEMENTS
“…two significant projects in two different parts of the city had major announcements this week, including a ribbon cutting on the latest offering at The Beacon on Montgomery Street, and the launch of a leasing to a new Kushner Real Estate Group (KRE)…”

NYPOST: MEET THE 8 WOMEN DRIVING THE LUXURY REAL ESTATE INDUSTRY IN NYC
“Elliman. Corcoran. Christie’s. Halstead. Stribling. If you search New York’s major residential real estate brokerage firms, in every instance, “the man in charge” is, in fact, a woman. Even in the rare case where the CEO title is held by a man, the top salesperson is not. No other industry in New York is so completely dominated by…”

NJBIZ.COM: HFF CLOSES SALE OF HOBOKEN MULTIHOUSING PROPERTY
“HFF announced Monday that it has closed the sale of a Class A, 240-unit multihousing apartment complex in Hoboken. The property consists of four five-story residential buildings and takes up a full city block in the uptown Hoboken submarket between Grand and Adams Streets and 12th and 11th Streets, as well as the northern half of the block between Clinton and Grant…”

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