November 2016 Real Estate Newsletter

hudsonrealtygroup.com   |   www.halstead.com

HUDSON REALTY GROUP’S
 

MONTHLY REAL ESTATE UPDATE

      
NOVEMBER 2016 EDITION
          

YOUR SOURCE FOR HOBOKEN AND JERSEY CITY REAL ESTATE
    

HOLIDAY FESTIVITIES

HOBOKEN CITY HALL HOLIDAY CRAFTS FAIR
DEC. 3RD & 4TH FROM 11AM-5PM
“Unique Handcrafted Gift Items by local artists & crafters. Featuring: art, jewelry, fashion accessories, pottery, wooden home accessories & toys, hand knit scarves, hats, mittens, baby sweaters, baby clothes, hot sauce, Bonsai trees, holiday ornaments & gift wrap, soap & body products, candles, gourmet olive oils & aged balsamic…”

HOBOKEN CHRISTMAS TREE LIGHTING
TUES. DEC. 6TH BEGINS AT 5PM
The event will feature host and MC – Elvis the Elf, local school children and performers singing holiday songs, the Hoboken Fire Department, prizes and giveaways by radio station CBS FM, and a visit from Santa Claus.

JERSEY CITY HOLIDAY LIGHTING CEREMONY
THURS. DEC. 8TH 5-6PM
The HDSID presents its Annual Historic Downtown Tree Lighting and Menorah Ceremony at the Pedestrian Mall. Please join Mayor Fulop, Santa and music by Matty Dee in celebrating the holiday season. Children can enjoy free cookies sponsored by HDSID. 

HDSID PRESENTS: JERSEY CITY HOLIDAY MARKET AT GROVE STREET PATH PLAZA
The Artist & Maker Market is back for the Holiday Season! Find fabulous gifts for everyone at The Grove Street Path Plaza every Monday and Thursday in conjunction with the regular Farmer’s Market from 4-8pm.

THE LAUNCH OF HALSTEAD’S NEW MUSE MAGAZINE

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REAL ESTATE AND COMMUNITY NEWS

WSJ.COM: FED RATE RISE COULD COME ‘RELATIVELY SOON’ AS DATA POINT TO STRONGER ECONOMY
“The U.S. dollar steamed to a level not seen since 2003 and yields on the 10-year Treasury note reached a high for the year Thursday, as Federal Reserve Chairwoman Janet Yellen confirmed investors’ view that the U.S. economy is strong enough to withstand an interest-rate rise soon.”…

JERSEYDIGS.COM: REPORT ESTIMATES PROPOSED HOBOKEN HILTON WOULD CREATE 700 JOBS, GENERATE MILLIONS
“The report, which can be viewed here was generated by Philadelphia-based Econsult Solutions. Their findings say that the new Hilton, which would be at built at 1st and River Streets, would generate about $1.7 million in property and hotel taxes that would go to Hoboken and their schools, plus about $700k of taxes that would go to Hudson county.”…

HUDSONREPORTER.COM: HOBOKEN CITY COUNCIL VOTES AGAINST PROPOSED DEVELOPMENT SETTLEMENT
“Mayor Dawn Zimmer released a statement after the council’s vote stating “I fully understand and respect the City Council’s vote. As a result, we will be back in court in December to continue to vigorously defend the city’s interest in the Monarch and 800 Monroe cases.”…

HOBOKENINC.COM: HOBOKEN TO GET AN ICESKATING RINK UNDER THE VIADUCT
“We have confirmed that a new ice skating rink will be created under the Viaduct on or around December 20 and will run until February 28, 2017. The rink and winter village will be open daily from 9:00am to 10:00pm. The rink will be going in the area just east of the new soccer pitch fields – right in front of the movie theater.”…

FORBES: HOW PRESIDENT TRUMP COULD AFFECT THE VALUE OF YOUR HOME
“In the short term consumer confidence could track political party lines, which–probably not coincidentally–may mean a home sales slowdown in economically healthy blue-states and a sales pick up in red-states where growth has been slow.”…

ELLEDECOR.COM: JERSEY CITY IS OFFICIALLY THE BEST CITY TO LIVE IN THE UNITED STATES

“The winner over every American city for livability is Jersey City, located just southeast of Manhattan. Of the cities in the study, it has the the third-highest population density (which essentially means there’s plenty of easy access to things like great grocery stores, restaurants and laundromats), third-highest income after housing and ranks fourth in walkability.”…

JERSEYDIGS.COM: PARK AND SHORE BREAKS GROUND IN NEWPORT, WILL BRING 429-ULTRA PREMIUM CONDOS
“This project speaks to the strength of the Jersey City real estate market, which continues to draw investment here on the waterfront and throughout the city,” said Jersey City Mayor Steven Fulop. “What’s even more exciting is that this is the second major condo project we’ve broken ground on within the last year, highlighting the continued interest for people looking to make Jersey City their permanent home.”…

JERSEYDIGS.COM: RESERVOIR NO.3: JERSEY CITY’S RUSTIC JEWEL
“A stroll around the grounds right now, where trees and vegetation have proliferated, will make you appreciative of their efforts. While some of the trails are narrow and rocky (wear sneakers!), the reservoir features several Romanesque pump-houses, some interesting abandoned structures and scenic water views with an urban skyline as the backdrop.”…

JERSEYDIGS.COM: NEARLY TWO DOZEN NEW APARTMENTS PROPOSED IN THE HEIGHTS
“According to a legal notice from the Jersey City Zoning Board of Adjustment, the building is slated to include 21 residential units. Developer St. Pauls Ave, LLC’s plans for the four-story project also include 12 parking spaces.”…

NEWYORKTIMES: WHAT WILL A TRUMP PRESIDENCY MEAN FOR NEW YORK REAL ESTATE?

“Mr. Trump promises to not only cut taxes and regulations, but also to invest in infrastructure and jobs, a potential boon for business. “Once you start creating jobs, development follows,” Mr. Rudin said.”…

HOBOKEN AND JERSEY CITY REAL ESTATE MARKET REPORT

MARKET RECAP

Over the first half of 2016, the residential real estate market in Hoboken and Downtown Jersey City continued the up-ward trend in pricing experienced since 2012. Inventory remained near all-time low levels with only 1.5 to 2 months of supply. The volume of activity slowed slightly relative to the 1st half of last year down 7% in closed condos and 6% under contract as well as 22% less townhome closings (46 vs 59). The sharp declines in the stock market seen in January and February slowed high-end sales activity by giving buyers reason to pause but things got back to normal after the stock market recovered in March…<Continue in Report>

Thanks for reading our newsletter!

Please don’t hesitate to contact us if you any questions, comments or concerns.

          Clare Cossio          Peter Cossio          Matt Brown          Lindsey Brown          Kim Sullivan-Beier

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