HUDSON REALTY GROUP’S

 

MONTHLY REAL ESTATE UPDATE
 
JUNE EDITION

 

YOUR SOURCE FOR HOBOKEN AND JERSEY CITY REAL ESTATE
   

SUMMER COMMUNITY EVENTS

 

MILESQUARETHEATER.ORG: THE HOBOKEN HOOPLA CARNIVAL

Saturday June 20th from 12-6pm at Maxwell Park located at 1025 Maxwell Lane. Enjoy live music from Adam Levine, The Counterfeiters, The Plumbers, UnderCover and the sounds of DJ Shane Walker all day. 
 – Arts and Games
 – Bouncy Houses
 – Carnival Games
 – Petting Zoo

JCFAMILIES.ORG: ANNUAL CULTURAL DIVERSITY FESTIVAL 2015
Saturday June 20th from 11am-2pm at City Hall Plaza located at 280 Grove Street, Jersey City.  “The festival is a day of celebrating the diversity in our community. There will be an array of fun and culture-related activities planned for the whole family, arts & crafts, musical acts, dancers, an art show and — of course — lots of delicious food representing the diversity in Jersey City.”

HOBOKEN SUMMER FUN IN THE CITY 
Mayor Dawn Zimmer & the Hoboken City Council: “Summer is here and we are pleased to offer an expanding variety of free outdoor recreation and cultural activities.”

 

 

JERSEY CITY SUMMER FUN PROGRAM AND OUTDOOR ACTIVITIES
“Open to kids ages 7-13 who reside in Jersey City,  Summer Fun Program activities include Bowling, Day Trips, Tennis, Golf, Basketball, Swimming and more. Breakfast and Lunch are served daily for full day participants only. Beat the dog days of summer–come join the Summer Fun!”

HOBOKEN: MOVIES UNDER THE STARS 2015
“These FREE Outdoor Movie Screenings take place at Pier A Park, overlooking the beautiful Manhattan Skyline, located on First St. and Frank Sinatra Drive in Hoboken.”

HOBOKEN CONCERT SERIES
“The Symphony will play at Pier A Park rather than the amphitheater, and the Sinatra contest will move to the DeBaun Auditorium at Stevens Institute of Technology if it rains.” 

JERSEY CITY JUNE & JULY SUMMER EVENTS
“The Office of Cultural Affairs is responsible for highlighting the exciting and vibrant artistic communities that make Jersey City both their homes and their workplaces.”…

 

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REAL ESTATE AND COMMUNITY NEWS

 

HUFFINGTONPOST: SETTING THE STAGE AT A HOBOKEN TOWNHOUSE 
“Our designers came in and incorporated brilliant decorating ideas into the existing space, rearranging each room’s layout for a cleaner, more cohesive look and adding eye-catching accessories to make them pop.”

NEWYORK YIMBY: 90-STORY HOTEL & CASINOIN THE WORKS AT 100 CAVEN POINT ROAD, JERSEY CITY

“The $4 billion complex would have ferry service to New York City, and the plan no longer includes a Ferris wheel or racetrack. If built, the tower would fill a partially excavated hole currently serving as the parking lot for the golf course.”

HUDSONREPORTER HOBOKEN: CONFLICTING IDEAS ABOUT NORTHWEST DEVELOPMENT

“The plan will cover an 11-acre saw-toothed sliver of underutilized factories and lots stretching from Ninth to Fourteenth streets along the Hudson-Bergen Light Rail tracks. A redevelopment plan could update the zoning in one fell swoop, allowing much desired mixed-use development to flourish.”

CITY OF HOBOKEN: COMMUNITY INVITED TO KICK OFF MEETING FOR REBUILD BY DESIGN PROJECT

“All members of the community are invited to attend a public kickoff meeting for the Rebuild by Design Hudson River project (Resist, Delay, Store, Discharge) which will be held on Tuesday, June 23, 2015 from 6:30pm to 8:30pm at the Babbio Center on the Stevens campus.”

NYCURBED: PREVIEWING ONE WORLD OBSERVATORY AND ITS EXTRAORDINARY VIEWS

From the entrance to the elevator rides to the “discovery” floor, Legends Hospitality has taken every opportunity to create what they describe as an “entertainment experience.”

HUDSONREPORTER JERSEY CITY: A BIT OF SPAIN NEAR GROVE STREET

“The newly opened eatery located at 136 Newark Avenue near Grove Street is also destined to become one of downtown late night hot spots. Raval Tapas not only offers a brunch menu as well as traditional dinner menu, but a late night menu for late night partiers with a sudden urge for a snack.”

HUDSONREPORTER HOBOKEN: CLEAR FOR THE PIER

“In a major turn of events, the Hudson County Superior Court last month granted automatic approval to a controversial plan to build two residential towers on a Hoboken pier, overturning rejections of the plan by the Hudson County Planning Board and Hudson County Board of Chosen Freeholders.”

NEW YORK YIMBY: 35-STORY RESIDENTIAL & RETAIL BUILDING ON TRACK AT 430 MARIN BLVD, JERSEY CITY
” 421-unit mixed-use building at 430 Marin Boulevard, in downtown Jersey City. According to The Jersey Journal, 85 affordable units are being set aside, and the building will feature 10,126 square feet of retail. A second 35-story building is…”

NEW YORK YIMBY: SEVEN-STORY, 46-UNIT RESIDENTIAL BUILDING REVEALED FOR 600 HARRISON STREET, HOBOKEN
“46-unit luxury rental building planned for the vacant lot at 600 Harrison Street, in Hoboken, New Jersey. First Niagara Bank has provided $15 million on construction funding to the developer. Nastasi Architects is designing, and construction appears imminent.”

NJ.COM: HEARING SET FOR $10M PLAN TO CONNECT DOWNTOWN JERSEY CITY TO LIBERTY STATE PARK

“The hearing will be held Monday, June 22 from 5 to 8 p.m. at City Hall, 280 Grove St. Officials will be available to discuss the project informally from 5 to 6:30 p.m., with the official public hearing following a brief presentation on the plan.”

NJ.COM: HARD ROCK CASINO PROPOSED FOR THE MEADOWLANDS

“With its close proximity to an international airport, the new casino would be designed to attract visitors from not only the 14 million adults in northern New Jersey and New York City, but also international travelers, making it a premier entertainment destination,”…

 

MORTGAGE RATES

 

BANKRATE.COM: NATIONAL MORTGAGE RATES
Rates: 4.13(30-yr fixed) 3.35%(15-yr fixed)
  

“Mortgage rates ticked down this week, according to Bankrate’s June 17 survey of interest rates. The average rate for a 30-year fixed-rate mortgage fell 2 basis points to 4.13 percent. The rate for a typical 15-year fixed-rate mortgage dropped 4 basis points to 3.35 percent. A basis point is one-hundredth of 1 percent.”

 

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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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