HUDSON REALTY GROUP’S

 

MONTHLY REAL ESTATE UPDATE
 
NOVEMBER EDITION

          

 YOUR SOURCE FOR HOBOKEN AND JERSEY CITY REAL ESTATE       
   

HALSTEAD PROPERTY FALL / WINTER PORTFOLIO MAGAZINE

HOLIDAY FESTIVITIES

HOBOKEN CITY HALL HOLIDAY CRAFTS FAIR
DEC. 5TH & 6TH FROM 11AM-5PM

3 floors, featuring artwork & unique handcrafted gift items by local crafters & artisans including: jewelry, art, notecards, jewelry boxes, silk felted & leather bags, hand knits: scarves, shawls, hats, sweaters, blankets & more, candles, soaps & body products, organic honey products, locally harvested herbal teas, photography, holiday ornaments, hair accessories, pictures frames, mirrors, stuffed dolls, essential oils, fashion for women & children, quilts…

HOBOKEN CHRISTMAS TREE LIGHTING

DEC. 15TH BEGINS AT 5PM

Local school children & performers singing favorite Christmas songs, Host & MC, Elvis the Elf, appearances by The Royal Princesses of Once Upon a Princess Parties:Snow Queen, Apple Princess, Glass Slipper Princess and Sleeping Princess, The Hoboken Fire Dept,. and a visit by Santa Claus.

JERSEY CITY TREE LIGHTING AND MENORAH CEREMONY

DEC. 3RD BEGINS AT 5PM

The Historic Downtown Special Improvement District presents its Annual Historic Downtown Tree Lighting and Menorah Ceremony at the Grove PATH Plaza AND Pedestrian Mall. Free Pictures with Santa and Cookies.

HDSID PRESENTS: JERSEY CITY HOLIDAY MARKET AT GROVE STREET

The Historic Downtown Special Improvement District (HDSID) is excited to announce the Holiday Market at the Grove St. PATH Plaza in conjunction with the regular Farmer’s Market on Mondays and Thursdays 4-8PM in downtown Jersey City.Eat. SHOP. Fun

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REAL ESTATE AND COMMUNITY NEWS

JERSEYDIGS.COM: WEWORK ONE STEP CLOSER TO OPENING JOURNAL SQUARE OUTPOST

“This is significant, not only for Journal Square, but for Jersey City as a whole. WeWork is one of the hottest co-working companies among the tech and startup crowd. Their locations regularly attract top tech talent along with the tech money that comes…”

NJBIZ.COM: SOFTWARE FIRM MOVES HQ TO HOBOKEN OFFICE TOWER

“In a news release, the developer announced NICE Systems has leased 60,000 square feet for its new U.S. headquarters at the 14-story property. The deal will enable the tenant to consolidate its New York City and New Jersey operations in one location.”…

NJ.COM: PLANS REVIVED FOR TWO HOTELS ATOP WEEHAWKEN PARKING DECK

“Mack-Cali said the Renaissance hotel will include “luxury guest rooms, a lounge, and breakfast space,” while the Residence Inn will be for longer stays averaging “four or five nights,” featuring large rooms equipped with full kitchens, offering hot breakfasts included with each stay.”…

NJ.COM: CHAMBERS STREET AGREES TO SELL TWO JERSEY CITY BUILDINGS FOR $299M

“Chambers Street Properties has agreed to sell 70 and 90 Hudson streets for $299 million, NJBIZ.com reports. The sale comes four years after Chambers Street acquired the twin office buildings…”

JERSEYDIGS.COM: THE HEIGHTS CAN’T HIDE FROM DEVELOPERS

“This modern structure is definitely a far stretch from the classic Victorian houses the Heights is known for. But we are always a fan of new construction that takes risks architecturally, instead of sticking to the same brick big-box look that has taken over downtown Jersey City.”…

MORTGAGE RATES

BANKRATE.COM: MORTGAGE RATES DECLINE BUT JUST BARELY
Rates: 3.97% (30-yr fixed) 3.31% (15-yr fixed)

“Mortgage rates fell slightly this week as international concerns were top of mind for the global economy. After the terrorist attacks in Paris on Friday, investors flocked to government bonds, pushing prices up and yields down. Yields began reversing course Wednesday, however. Meanwhile, several reports released this week continue to show the housing market’s volatile rebound.”…

HOBOKEN AND JERSEY CITY REAL ESTATE MARKET REPORT


  

MARKET RECAP
   

Sales volume and prices surged within Hoboken and Jersey City’s residential real estate market over the 1st half of 2015.  A total of $606M in residential sales closed over the first 6 months of the year, up almost 18% over the same period last year.  Bidding wars were more the norm than the exception due to starting the year with inventory at all time lows, no increase in the quantity of properties listed for sale combined with strong demand from buyers.  On average properties spent only 30 days on the market with many of them going into contract after the first week on the market.  Pricing continued to rise, setting all-time record average sales prices and price per square foot for all property types. Brooklyn (Brooklyn Heights/Carroll Gardens/Cobble Hill/Columbia Street Waterfront/Dumbo/Red Hook) condo values at average price points are roughly 100% more than those in Hoboken and Jersey City ($1.26M vs $650k), Metro NJ continues to offer tremendous value, even at record price levels…<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

                
 

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