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Re: New Tax Rate is Insane!
#1
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Quote:

stillinjc wrote:
Sounds about right for a $2.5 mil property.

Ask people from Summit or Westchester.


Or Hoboken

Posted on: 2018/2/2 20:53
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Re: Jersey City will get two ‘ultra-luxury’ condo towers
#2
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I smell a 30 year abatement, thanks Stevie.

Posted on: 2016/10/28 18:39
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Re: hoboken fuckboys
#3
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If the dudes were in an SUV down by the waterfront on a weekend, there's a very good chance they are from out of town. I live in Hoboken and I don't ever drive to the waterfront. Washington Street is full of out of town fucktards every weekend of the year. Blame it on Hoboken all you want, but if/once downtown JC becomes a destination like Washington St is, there an SUV coming to see you too.

Posted on: 2016/8/1 13:45
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Re: Cockroach at Modera Lofts
#4
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When a lot of new people are moving in to a new building, they may be moving in more than just their furniture. They can be hiding in boxes and couches etc.

Posted on: 2016/7/25 20:33
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Re: HAP Investments Pays $26.5M for Jersey City Parking Lot
#5
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Quote:

bodhipooh wrote:
Pretty soon, all the Newport commuters will have to ride the train back to Grove or JSQ in order to be able to board a train heading to NYC. While Grove does get crowded at times, I have never not been able to board a train there, but at Newport it is a different story. When all these new developments in JSQ finally get erected, the PATH trains leaving from there will be almost at capacity already.


Or god forbid they walk to Hoboken and take the PATH from there or take the empty WTC to Hoboken line and do the same. I agree, it's going to get ugly when all these building are fully occupied and people will have to get creative about getting to work.

Posted on: 2016/6/9 19:42
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Re: Jersey City mayor-elect orders end to citywide reval
#6
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Quote:

bodhipooh wrote:
As someone else had predicted, we are starting to see a lot more high-end properties coming online for sale. Perusing the Zillow listings for properties with values of 750+ K in 07302 yields almost 60 hits. I don't remember ever seeing that many listings at once. I wonder how many of those are motivated to to try and sell now because of the reval.


Agreed. For a good example of people paying a fraction of what they would be paying post-reval take a look at 299 Pavonia, the Wells Fargo building near Hamilton Park. A unit there recently went on the market for 1.9 million and the taxes are ridiculously low. They have people who have been there fore decades paying well below 10k in taxes on 2-3000 sf lofts. Won't be surprised to see a lot of those units on the market soon.

Posted on: 2016/5/11 14:49
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Re: Jersey City mayor-elect orders end to citywide reval
#7
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What about the landlord who is benefiting from higher rents due to appreciating values? They get a pass on higher taxes until they sell? Market appreciation is cash in hand for them.


Quote:



But it'd be much fairer to have the taxes on real estate appreciation be paid upon a sale, not before. Market value appreciation is not cash in hand and yet taxes are cash out of pocket.

Posted on: 2016/4/5 18:05
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Re: Cha-ching!
#8
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Quote:

jcneighbor wrote:
Quote:

Monroe wrote:
What are the municipal taxes on the property?


Looks like ~$24K/year if this is correct:

http://www.zillow.com/homedetails/2-2 ... NJ-07302/2139191201_zpid/



Where did you see that, I'm seeing this:
Taxes: 9961
Monthly Maintenance Fee: 837

The developers applied for and got a sweeter abatement deal after they began selling the units.

Posted on: 2016/1/22 16:28
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Re: Cha-ching!
#9
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Quote:

Monroe wrote:
What are the municipal taxes on the property?


You mean the abated taxes. P I L O T

Posted on: 2016/1/22 15:50
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Re: Dealing with noisy rental tenants in a condo
#10
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Was there ever a tenant that was tolerable upstairs from you? It may be due to the construction of the building. I had a similar problem at a condo I bought a while back and there was little I could do other than sell it and move. Painful lesson learned: if the building is not steel and concrete don't buy anything but the top floor!

Posted on: 2016/1/11 16:37
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Re: 251 Newark Ave (Cheesecake Lofts) and 239-249 Newark Ave
#11
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Maybe the Cheesecake Factory will move in to the retail space below.

Doesn't look like there is any onsite parking either.

Posted on: 2016/1/5 22:02
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Re: The Beacon
#12
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Quote:

Probably should have invested in The Beacon instead


Probably not, the majority of Beacon owners are still under water or sold at a loss. There are still short sales and foreclosures going on there to this day.

Posted on: 2015/12/10 22:08
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Re: Jersey City mayor-elect orders end to citywide reval
#13
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Quote:

brewster wrote:
Quote:

jmcee wrote:
I forgot to include the thousands and thousands of (abated) new rental units coming up for rent in DTJC putting downward pressure on rents


I have my doubts about this often repeated theory. It would make perfect sense if we were a self contained market, but we're not. There's tremendous pressure coming from across the river where the rents in Brooklyn and Queens are skyrocketing. Thousands of new units here is a drop in that bucket 32x our size. Now, they're building over there too, but the demand is huge. I can't see the already lower rents here going down without a market wide correction.


The PATH problem is in doubt? Let us see, my pretty! And your little dog too.

Posted on: 2015/12/2 2:31

Edited by jmcee on 2015/12/2 2:47:57
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Re: Jersey City mayor-elect orders end to citywide reval
#14
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Quote:

jmcee wrote:
The prospect of interest rates going up at the same time as a reval could be the double whammy on prices as these folks who have been under-paying rush to sell. Will the all cash buyers (I'm looking at you Dixon) come in and save the day. We shall see.

I moved to Hoboken right after the reval and I must say the air smells cleaner there. Good luck with your lawsuit Steve.


I forgot to include the thousands and thousands of (abated) new rental units coming up for rent in DTJC putting downward pressure on rents at least temporarily for the next few years and the impending PATH problems at Grove and Xchange.

Posted on: 2015/12/2 1:31
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Re: Jersey City mayor-elect orders end to citywide reval
#15
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The prospect of interest rates going up at the same time as a reval could be the double whammy on prices as these folks who have been under-paying rush to sell. Will the all cash buyers (I'm looking at you Dixon) come in and save the day. We shall see.

I moved to Hoboken right after the reval and I must say the air smells cleaner there. Good luck with your lawsuit Steve.

Posted on: 2015/12/1 18:10
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Re: Thirty Acres Restaurant- Jersey Avenue
#16
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Posted on: 2015/10/7 15:46
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Re: Freeholder and Fulop appointee ticks off Steve big time!
#17
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I heard it from a friend, who heard it from a friend that Stevie's been messing around. Trouble ahead.

Posted on: 2015/10/2 15:56
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Re: Renovated house in the Heights asking for $20k/month rent!
#18
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Quote:

bodhipooh wrote:


The problem with the idea of using it as an AirBnB investment property is that from its location to the region's main attractions (NYC!) is not friendly for out-of-towners that need to rely on public transportation. The reason so many AirBnB and SkyCity Apartments are located all over DTJC is that they are all close (within short walking distance) to convenient mass transit.


It's not that far from the Congress LR and short cab ride to Hoboken PATH, but yeah not optimal. But for that view some people probably wouldn't mind. Epic selfies from the rooftop pool!!

Posted on: 2015/9/11 20:47
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Re: Renovated house in the Heights asking for $20k/month rent!
#19
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Or some enterprising person could rent it out and then put it on AirBnB for let's say $700-800 a night or just rent rooms by the night and live there for free. Not a bad hotel room for that kind of money. Any takers?

Posted on: 2015/9/11 17:49
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Re: Republican state senator slams Jersey City on tax abatements
#20
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Quote:

I think you'd be crazy to buy at current prices when there's a real threat your property tax bill might double or triple in the next 5 or so years. Meaning once the reval goes through (Ward E) and if JC loses its Abbott district status (everyone).


Hoboken survived a major tax hike and a reval in the last 5 years. Prices and demand remain strong. I know it not an apples to apples comparison but it's food for thought. Long time residents in single family homes and brownstones had to sell since they could not afford paying 20-30k in taxes but at least they walked away with a boat load of money.

Posted on: 2015/8/6 21:00
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Re: Is Jersey City Real Estate in a bubble?
#21
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Quote:


That is not correct. There are several condo projects in the works. In addition to The Oakman (160 First) you have the next two towers going up at Provost Square, which will be condos (apparently both are condos or will include a significant amount of condos) and you have the second Trump building (65 Bay) and the various small projects happening around town: places like The Gannon and the building across from it. Supply is limited now and will continue to be tight, but there will be inventory being added over the next few years.


FYI Trump is going to be rentals not condos

Posted on: 2015/7/31 13:45
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Re: Sell or rent JSQ house?
#22
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Get an appraisal if you haven't already. If you can rent it out for >= mortgage costs, why not keep it.

Posted on: 2015/7/28 17:30
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Re: Newark Avenue Pedestrian Plaza -- Reopening?
#23
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Quote:



I suppose that's their prerogative, but if patrons want to enjoy outdoor seating they won't get the business. Simple as that. If patrons want to eat inside (and don't ban them "on principal") they will be ok.


Skinner's has rooftop alfresco dining already, maybe they don't need more outdoor space.

Posted on: 2015/6/12 17:20
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Re: Raval tapas place
#24
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What about my $1200 Ferragamo sneakers? Certainly they would be allowed, right?


Resized Image

Posted on: 2015/6/2 16:09
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Re: 5.2 M condo is for sale in Hudson County
#25
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Quote:

Monroe wrote:
Cheap taxes for a $5 million dollar home, actually. In, say, Short Hills most houses hit that tax amount when the asking price is around $3 million. $5 million dollar houses are half again as much in taxes as Manning's condo.


Add $2300 in HOA fees to the taxes and you are looking at $6300 /month plus your jumbo mortgage payment (unless you paid cash).

Posted on: 2015/5/21 19:59
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5.2 M condo is for sale in Hudson County
#26
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Just went on the Market today for 5.2M! It was three units that were combined.

Taxes: $48,824

Current owner's name sounds familiar: MANNING, ELISHA NELSON & ABBY

Zillow listing

Posted on: 2015/5/21 19:04
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Re: Australians investors buying up Jersey City housing
#27
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The amazing thing about this place is it is currently assessed
at 185900 and is paying only $13819.81 in taxes. A similar (actually a little smaller) brownstone in Hoboken is paying $26700.

Link

Did someone say REVAL!!
Quote:

SRhia wrote:
Looks like they're having an "investor day/tour" at 237 Montgomery Str. Initially I thought it was an open house (door open, lady with balloons on stoop), so I asked if I could go in and take a look. Nope, for investors only - most people there are in suits, or shirts with ties.

Apparently, there's a small "carriage house" in the back of the house (sitting at the end of the empty lot next door). It's a 2-bed and and 2-bath. It was renovated by Dixon as well, and will be on the market shortly (separate entrance from 237 MOntgomery).

Imagine how great this whole thing (brownstone up front + carriage house in the back, plus a small yard) would be for a family. DROOLING!!!!!!!!

Posted on: 2015/5/5 17:58
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Re: Jersey City Mayor Seeks to Limit Chain Stores Downtown
#28
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Quote:

TwoBootsJC wrote:
Folks. Just to put the "we need to nip the problem in the bud" argument to rest, one need only look at Washington Street in Hoboken, arguably 10 years ahead of JC in gentrification. If you take out the banks and phone stores (which can really only be chains), chain stores amount to well under 20% of ALL stores. (I'm happy to share the data with anyone interested.) I would only repeat that this is a solution in search of a problem. Great PR but not a problem.


FYI Office Depot on Washington St (formerly Barnes & Noble) is closing. The people of Hoboken have spoken!

Posted on: 2015/4/17 15:39
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Re: Jersey City Mayor Seeks to Limit Chain Stores Downtown
#29
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The free market system seems to be working fine in Hoboken, there a nice mix of small and big names up and down Washington Street. Steve, if it ain't broke, don't fix it.

Posted on: 2015/4/8 19:27
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Re: Jersey City Mayor Seeks to Limit Chain Stores Downtown
#30
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Quote:

MDM wrote:
Would Whole Foods be considered a 'chain store'?




"Grocery stores aren't affected by the proposal, according to the draft ordinance."

Posted on: 2015/4/7 14:49
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