Re: NYT The Hunt: Nonnegotiable: A Jersey City Address
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Newbie
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A school counselor spends $1,800 on rent? Her and what trust fund???
Posted on: 2016/4/16 16:12
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Re: Investing in JSQ
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Newbie
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I bought several years ago in the St. Peter's area, when I got priced out of Brooklyn, and am still happily living here. Personally I think this area is a good bet for long term investment because the PATH WTC and 33rd St lines run all night and provide Yuppies a direct, easy, reliable route home from Manhattan at any time, whether you're in the city working late or out with friends on the weekend. It's just like Grove St and Newport in that sense, only cheaper. Easy transport into NYC and price were my most important considerations when I was buying. This area also has no flood concern, thankfully.
The proximity to St. Peter's also insulates you a bit from market flux, if only a little bit. That said, I think it has a ways to go. It's gritty and, so far, has little to none of the hip young social scene that's starting to get a hold of the Grove St area. It also doesn't have the clean, new feel of the Newport area. That's why it's still so cheap, both for investors and for renters. I doubt I could rent my 1 bedroom for a price that would cover mortgage and maintenance, even now, when rents are high. I think that the area will get nicer and become a more reliable, stable rental market, but it takes time for neighborhoods to evolve. If long term investment is your goal, I would recommend it. I don't know anything about Harrison, other than the fact that I would have had to change trains at JSQ to get there from NYC. I do like to walk around this area though and have walked through the Heights. I agree with what posters here have been saying on that area. It's a pretty neighborhood, has nice parks and a lot of beautiful buildings. It has a more relaxed, family friendly feel than JSQ. You would probably get a bigger and nicer place for the same price. I don't get the sense that it has the same long term investment potential or development goals that JSQ/St. Peter's area does, because its transportation into NYC doesn't seem as obvious, but I don't live in that neighborhood - those who do may disagree.
Posted on: 2013/8/29 17:28
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