HUDSON REALTY GROUP’S

 

MONTHLY REAL ESTATE UPDATE
 
OCTOBER EDITION

          

 YOUR SOURCE FOR HOBOKEN AND JERSEY CITY REAL ESTATE 
   

 

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REAL ESTATE AND COMMUNITY NEWS

 

ROCK THE BBQ: HOBOKEN PIER A

Rock The BBQ Festival October 24th & 25th, “Pier A in Hoboken. “Our weekend event will bring together barbecue, beer, wine and music enthusiasts from all across the Tri-state area…Saturday evening will end with a bang, with our proposed amazing live fireworks show over the Hudson River!”…

HOBOKEN HISTORICAL MUSEUM: HOBOKEN HOUSE TOUR

“This year, the Annual Hoboken House Tour on Sunday, Oct. 25, will feature 9 to 10 homes and condos graciously opened to visitors by Museum supporters to help us raise funds. Every year, the tour offers a fresh selection of traditional andcontemporary homes and condos furnished in a wide range of styles.”…

HOBOKEN CITY: HOBOKEN RAGAMUFFIN PARADE RESCHEDULED TO SATURDAY OCTOBER 31ST

“…Saturday, October 31st, 2015 at 1:00pm. Line of march starts at 12:15pm on Washington Street between 13th Street and 14th Street. The parade will end at the Little League Field for the Costume Contest at 2:00pm.”…

HUDSON REPORTER HOBKEN: BIKE-SHARING IS CARING

“Seventeen stations and 120 bikes are active throughout the city with all 29 stations and 250 bikes coming online in the coming days and weeks. The program, which has been two and a half years in the making, will be operated by bike rental company Bike and Roll in partnership with NextBike, E3 Think and P3 Global Management.”…

JERSEYDIGS: JERSEY CITY’S FIRST PASSIVE HOUSE COMING COMING TO THE HEIGHTS

“…seal a building airtight and then thoroughly insulate it. In doing so, the building is less susceptible to the external climate. This prevents large temperature fluctuations, which in turn, reduces the amount of energy required to heat or cool the interior.”…

HUDSON REPORTER JERSEY CITY: ‘A PLACE WITH A SOUL’

“The innovative housing concept would maximize personal space, reduce energy use, provide close and easy access to public transit, and serve its community with cafes, shared work spaces, and residential rooftop gardens. Barry, who had been working on this concept for years, said the idea was to provide public spaces where people can gather and interact in an age when many people feel isolated.”…

HOBOKENINC: A NEW WASHINGTON STREET IS COMING
“Washington Street, the main thoroughfare and business district of our city, is about to be completely changed – for the better. The city of Hoboken developed a plan to revitalize the street over the past year, and surveying work already started this week.”…

JERSEYDIGS: CONDOS PROPOSED FOR 380 NEWARK AVE

“The plan calls for 45 condo units on 5 floors above 20 parking spaces and 4300 square feet of retail/office/restaurant space on the ground level. The rooftop with have an amenity space of which a third will be planted green roof. A smaller 600 sf structure on the roof will potentially house more amenities like a gym or community…”

HUDSON REPORTER JERSEY CITY: VALUABLE LEFTOVERS

“Moving companies associated with the program offer to pick up the unwanted, non-perishable food items from people who are moving and deliver it to their local food banks.”…

HOBOKEN CITY: HOBOKEN INTRODUCES PLAN TO REHABILITATE NEUMANN LEATHERS BUILDING & PRESERVE ARTISTS

“The plan would require the preservation and adaptive reuse of the historic buildings, using site characteristics such as the smoke stack, cobbled drives, exposed steel, oversized doorways and loading portals as design elements to help integrate the architecture of the past and present.”…

HUDSON REPORTER JERSEY CITY: JERSEY CITY TO LEGALIZE AIRBNB

“The City Council recently introduced legislation to legalize Airbnb. In exchange, Airbnb will pay the city 6 percent hotel tax on the 300 or more residential properties that rent out temporary living space to tourists. The matter may be up for a final vote next month.”…

JERSEYDIGS: THE HIGHLINE HAS NOTHING ON JERSEY CITY’S NEW PEDESTRIAN BRIDGE

“The bridge caters to commuters with an express walking lane and separate bike lane. Other highlights include providing a 200+ foot view over the Hudson and having the bridge be home to retail spaces…”

HUDSON REPORTER HOBOKEN: SPOOKY SIGHTS FOR HALLOWEEN

“The area of Garden and Bloomfield streets between 10th and 14th streets has certainly gained a reputation over the years for upping the ante when it comes to Halloween decorations.”…

HOBOKENINC:NYC BASED BROD KITCHEN IS COMING TO UPTOWN HOBOKEN AT MAXWELL PLACE

“Bröd Kitchen, a fresh, vibrant bakery & eatery offering artisanal breads & restaurant-quality foods in a casual setting, is coming to uptown Hoboken at 1100 Maxwell Place. With an established site on the Upper East Side at 63rd and 2nd, we think Bröd Kitchen will be a perfect fit in their uptown Hoboken location.”…

 

MORTGAGE RATES

 

BANKRATE.COM: MORTGAGE RATES REMAIN UNCHANGED AS LENDERS ADJUST TO NEW RULES
Rates: 3.93% (30-yr fixed) 3.11% (15-yr fixed)

 “The level of mortgage applications recovered from a steep decline 2 weeks ago. Overall, mortgage applications jumped 11.8% last week from the previous week, according to the Mortgage Bankers Association. Purchase applications rose 16%, while refinances were up 9%.”… 


 

 

HOBOKEN AND JERSEY CITY REAL ESTATE MARKET REPORT

 

 


  
M
ARKET 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