HUDSON REALTY GROUP’S
 

MONTHLY REAL ESTATE UPDATE

      
JUNE 2016 EDITION

          

YOUR SOURCE FOR HOBOKEN AND JERSEY CITY REAL ESTATE     

 

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REAL ESTATE AND COMMUNITY NEWS

 

NJ.COM: ‘TODAY’ SHOWS’ NATALIE MORALES’  HOBOKEN TOWNHOUSE FINDS BUYER IN 6 DAYS

“In another sign of Hoboken’s hot real estate market, the renovated turn-of-the-century townhouse owned by “Today” news anchor Natalie Morales and listed for $3.1 million found a buyer in six days.”…

 

JERSEYDIGS: RETAIL ROUND UP: NEW RESTAURANTS, MORE COFFEE IN THE MILE SQUARE

“Replacing the former Trinity Pub at 306 Sinatra Drive, Union Hall will focus on small plates, feature 50 wines by the bottle and serve many hand-crafted seasonal drinks. The Hall also says they’ll have their very own “Union Brew” Ale available for purchase.”…

 

NJ.COM: LATEST WEEHAWKEN CONDOS FILL UP AS RENTALS BREAK GROUND

“The remaining units at the Avenue project include one, two and three-bedroom units of 887 to 3,139 square feet, with sale prices starting at $759,000,the company said. Most units include private outdoor space of up to 1,036 square feet.”…

 

HOBOKENNJ.GOV: COMMUNITY INVITED TO GROUNDBREAKING CEREMONY FOR SOUTHWEST PARK

“The park will feature passive recreational space, green infrastructure (rain gardens, shade tree pits, porous pavers, a cistern for rainwater harvesting and reuse) and an underground detention system…” 

 

HUDSONREPORTER: MULTI-USE PATH COMING FOR SINATRA DRIVE

“The path will complete the final segment of the state-mandated waterfront walkway that stretches 18.5-miles from Bayonne to the George Washington Bridge. It will begin north of the Castle Point Skate Park and run along Sinatra Drive and the Union Dry Dock property. The eight-foot wide walkway has been in temporary use since last month, delineated by cones and metal barricades.”

 

JERSEYDIGS: ITS TIME TO BUILD CONDOS AGAIN SAYS CUSHMAN’S BRIAN WHITMER

“Citing pent-up demand, short supply, and favorable pricing, Whitmer believes the condo market is finally back and developers should take advantage of these positive market conditions.”…

 

NEWYORKYIMBY: REVEALED: 75 PARK LANE SOUGH, JERSEY CITY

“Jersey City’s planning board approved plans last month to build a 37-story condo tower at 75 Park Lane South, near the Hudson River waterfront. YIMBY has the first look at the project, which will join 10 other residential high-rises in the Newport section of the city.”…

 

HUDSONREPORTER: FRUIT, FISH AND FLAVORED BUTTER- ALL FROM THE FARM

“From fresh bread to varieties of homemade pickles, you can find fruits, veggies, and concoctions straight from New Jersey’s farms at weekly farmer’s markets around Hudson County this summer.”…

 

JERSEYDIGS: WEEKEND WALKS: A PHOTOGRAPHIC TOUR OF DOWNTOWN HOBOKEN

“While Hoboken’s admittedly beautiful waterfront may get all the press, much history lies around those shiny high rises and in some cases, it’s right in front of it. Pier A, now a park, was once used during World War I to ship doughboys off to Europe.”…

 

NEWYORKYIMBY: 43-STORY, 376-UNIT RESIDENTIAL TOWER RISES ON 14TH STREET IN NEWPORT SECTION OF JERSEY CITY

“The new 444-foot-tall building will encompass 592,800 square feet and will include a retail component on the lower levels. The residential units will be rental apartments. LeFrak is developing the project, and Arquitectonica is behind its design. Completion is expected sometime in 2017.”…

 

JERSEYDIGS: NEW DOCUMENT PROVIDES A TIMELINE FOR JERSEY CITY REVAL

“The main goal of the revaluation is to assess each property to its current value so that tax rates can be applied consistently. Since Jersey City hasn’t reassessed properties since 1988, many home values have increased (or decreased) resulting in inconsistent tax bills.”…

 

HOBOKENJ.GOV: PARKMOBILE PARTNERS WITH CITY OF HOBOKEN TO BRING MOBILE PAYMENTS FOR PARKING TO THE ENTIRE CITY

“Once registered, they can use a mobile app, internet, or call toll free to pay for parking. After setting up their account, customers can immediately begin using the system with their registered mobile device. Enforcement officers will be able to see that a motorist has paid with Parkmobile using a wireless handheld device. Mobile app users may also choose to receive alerts and reminders 15 minutes prior to expiration of their parking session.”…

 

 

HOBOKEN AND JERSEY CITY REAL ESTATE MARKET REPORT

 

   


   
M
ARKET RECAP


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>

 

 

 

               

 

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. 

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