Register now !    Login  
Main Menu
Who's Online
42 user(s) are online (37 user(s) are browsing Message Forum)

Members: 0
Guests: 42

more...


Forum Index


Board index » All Posts (steveikin)




Re: Toll Brothers CEO Grades Housing Markets: NJ gets a D; NYC B; Jersey City B+; Many Areas get an
#1
Not too shy to talk
Not too shy to talk


Hello GrovePath:

I also listen in on the Toll Brothers investor conference calls and it's super interesting stuff. Please continue posting the transcript, Toll is 85% negative regarding the entire USA realestate market, however whenever "CityLiving JC/Hoboken" is mentioned it's "B+". Top of the entire country (according to Toll).

Posted on: 2007/11/28 2:28
 Top 


Re: Montgomery Greene Condo Bldg
#2
Not too shy to talk
Not too shy to talk


Whatever happened to this building? I drove pass the other evening and people are still not living there.

Has it gone bankrupt because of all the luxury buildings which are in better locations and offer more amenities - in addition to the fact it's so late that buyers are walking away (with their deposits - I hope)?

Plus I read that Lisbon's and the South rear carpark are to be developed into a huge 66 unit condo.

Posted on: 2007/3/22 1:27
 Top 


Re: Three 40-plus story towers on 110 and 111 First Street sites.
#3
Not too shy to talk
Not too shy to talk


Quote:

JCLAW wrote:
[snip] BTW 5 - I'm new to your site! Hi everybody! I'm another refugee from S*^!a's N#$%^&T W@#$%^&*(T A$$)%^&!@#N board where I was told to stop criticizing the mayor for his behavior. Can you spell, pandering to the corrupt establishment, S*^!a? Hoping not to be stifled here.


Welcome JCLaw, and thank you for the two rather interesting postings. I'm sure you'll enjoy your time here.

Posted on: 2006/6/27 20:16
 Top 


Re: Amid the Glitter, JC's Growing Pains
#4
Not too shy to talk
Not too shy to talk


Quote:

PHResident wrote:

Tris is too busy writing big sloppy wet blow job pieces about all of the new development in downtown Jersey City. You can find his piece in the new free "Neighborhood Guide" found at various businesses throughout downtown.


I don't suppose you happen to know of an on-line version of said article?

Posted on: 2006/3/14 14:31
 Top 


Re: How much impact will "The" Golf Course have?
#5
Not too shy to talk
Not too shy to talk


What do you need 13,000 sqft for?

Yes, $1.3M sounds like a good deal. I'd ignore the golf course: You can't see it - you can't walk on it - you can't join it.

BTW: regardless of the size of the place, the area is kind of crappy, i.e. not safe. But I guess you can just take long walks around your unit.

Posted on: 2006/3/4 12:14
 Top 


Re: Quick Note from Steven Fulop For Jersey City-Feb 13,2006
#6
Not too shy to talk
Not too shy to talk


I believe I speak for many here whom will be looking forward to DanL's constructive and non-biased critique of Steve's email.

Posted on: 2006/2/13 21:20
 Top 


Applying the same logic...
#7
Not too shy to talk
Not too shy to talk


If the mugger had a gun:

Quote:
In reaction to the attack, WARFA will be opening a target range, Lopez said.


Posted on: 2006/2/8 21:02
 Top 


Re: Fulop Calls for Resignation of Police Chief Robert Troy
#8
Not too shy to talk
Not too shy to talk


Quote:

Nuada wrote:
Putting aside the personnel question vis a vis Chief Troy...I support what Steven Fulop is doing here because it says two big things:

o Crime is impacting QOL for JC residents. (In places like NYC crime is down.) I'm hearing more and more complaints, from people downtown, around Lincoln Park, and of course in Greenville.

o The government's actions and inactions do indeed impact the crime rate.

The helpless, passive remarks by some JC pols ("we're not as bad as Trenton") are the problem. Smart, good policing and govt should impact crime rates.

A third problem, also touched on by Fulop's call, is the pervasive politicization of the police hierarchy. This goes back at least to Hague -- see Thomas Fleming's book, Mysteries of My Father , http://www.amazon.com/gp/product/0471 ... s=books&v=glance&n=283155

All that said, I do not know enough about Troy to want his head or not want it. In a way, that is a secondary issue because Fulop is highlighting the primary issues:
o Soaring crime rates
o We can and should act
o Politics don't belong in policing.

What's not to like about that?

Oh...anybody interested in the past who hasn't read Fleming's book should. It's a marvelous informal history of JC under Hague.



A logical, thoughtful, high quality posting. I'll be sure to check out the book. Thank you.

Posted on: 2006/1/26 14:33
 Top 


Re: History of www.187warren.com
#9
Not too shy to talk
Not too shy to talk


Ladies and Gents:

I have no issue with anyone discussing the purchase price and/or For Sale price of my condo. It is public domain. Be that as it may, (Mr./Ms.) InJCSince81 should really take into account I'm not a typical seller or buyer (and I'm not a flipper) hence looking at when and how I priced my condo as a benchmark doesn't correctly reflect the Paulus Hook market.

Pr?cis, I love my condo, it's currently priced at about 570 per sqft, which is neither cheap nor expensive ? I believe Goldilocks would say "Just right!". It's a great unit and Liberty Point was excellently built.

As Annod wisely stated, it all about "comparables", when selling/buying property I always actively encourage anyone to go and look at ALL options available. I'm selling my home ? someone's potentially buying a home ? that's a significant decision for someone.

So - prices might go up and prices might go down and prices might stay the same. The only thing I know for sure is that my life's a whole lot more complicated than the Paulus Hook real-estate market.

Regards,

Steve

Posted on: 2006/1/12 5:13
 Top 


Re: Does the HPNA represent the community?
#10
Not too shy to talk
Not too shy to talk


Quote:

Kermit42 wrote:

And Bright Moments: would you mind doing a little less of that? It makes the threads harder to follow and rarely adds anything.


Thank you Kermit. I thought I was the only one who found Bright Moment's graphics irritating, and provide neither value nor humor.

Posted on: 2005/12/9 16:51
 Top 


Re: HPNA neglects to hold Nominations for Elections
#11
Not too shy to talk
Not too shy to talk


Many thanks Minnie - keep fighting.

Geoff Elkind and Sam Stoia appear to be a couple of official a-holes. Have either of them posted on JCList?

Posted on: 2005/11/3 9:59
 Top 


$8.95Million buys you an 11K sqft Des. Res.
#12
Not too shy to talk
Not too shy to talk


Is it me, or does $2M for a brownstone seems kind of pass? these days?

361 - 363 1st Street, Jersey City : $8.95Million

Posted on: 2005/10/18 23:12
 Top 


Re: The Beacon
#13
Not too shy to talk
Not too shy to talk


Henry said that the restaurant and misc. stores will be open to the public. Plus I would have thought anyone purchasing a store would have in their contract of sale that The Beacon must remain open to the general public.

I can't imagine a restaurant, bank, grocey store been profitable with only 120 units as customers, (growing to 1200 in 5-years). However, I might be wrong.

Posted on: 2005/10/9 12:36
 Top 


Re: The Beacon
#14
Not too shy to talk
Not too shy to talk


I went to an appointment at The Beacon Sales Center this afternoon and thought I?d share the info:

Studios ? High $200K to Mid $300K ? between 596 sqft and 750 sqft
1 Beds ? Low/Mid $300K to Mid $500K ? between 750 sqft and 900 sqft
2 Beds ? Low/Mid $400K to Mid $600K ? between 975 sqft and 1300 sqft

The best unit currently for sale was 1280 sqft for 575K on the 17th Floor, NE Views. Maintenance for the unit is a little crazy: $965 per month, that includes Gas, Water, Amenities. Nevertheless, the amenities are bloody excellent, for example it's got a 1500 sqft all-year indoor pool, plus a ton of other stuff ? very impressive.

This is a 5+ phase development completion in about 5-years, but only the first two buildings currently for sale. Completion of the first two units is Jan 2007.

Number of units available in the first 2 buildings phase: ~120
Number of units sold in the first 2 buildings in "one week": ~70

My wife and I met a gentleman called Henry and he was very informative.

One final note: Let's try and not have a discussion about the area, it's obviously on the way up, which will hopefully benefit everyone.

Time for a glass of wine.

Posted on: 2005/10/8 1:21
 Top 


The $2.3M Condo In Hamilton Park?
#15
Not too shy to talk
Not too shy to talk


But it's only $353 per sqft... ;)

$2.3M condo in Hamilton Park.

Posted on: 2005/10/6 13:22
 Top 


Re: $2M Brownstone In Paulus Hook?
#16
Not too shy to talk
Not too shy to talk


I believe the $3M rowhouse is on York St. I don't know its number, but it's opposite the condo building: 104 York St.

The condo I can only assume is in the Sugarhouse. Correct?

Posted on: 2005/8/8 14:47
 Top 


Re: $2M Brownstone In Paulus Hook?
#17
Not too shy to talk
Not too shy to talk


Quote:

Second there are still a very few empty lots left. One on Lower Sussex, one on upper Sussex, one on Morris, etc. If you could get permission to build something smaller like the old stationhouse (the picture you posted) you might get out of the whole thing for far less than an existing rowhouse.


70 Sussex is probably an interesting example, as you possibly know this was an empty lot 3+ years ago. The lot was purchased by John Bober, the same developer who constructed the new condos at 60 Morris and 61-63 Sussex.

I do not know how much John paid for the empty lot, I also don't know how much it cost to construct 71 Sussex (which is a three unit condo building), but actually looks like an old noble single family brownstone. The units originally sold for $455K (1000 sqft), $499K (1450 sqft) and $530K (1500+ sqft). Total: $1,484,000

The $530K unit (the PH), which John had built for his mother recently came back on the market about 4-months ago and sold in a matter of days for around $850K (possibly more), that's an approximately 60% increase. Calculate the same across the building and today's total market value for the three units would be $2.3M+.

I'd guess that an emtpy lot on Sussex would would sell for more than $1M at auction. Spend $500K on building the place and you've got an excellent one family. Spend probably the same and you could build 3 condos and walk away with maybe $1M in profit.

So the brownstone for sale on Sussex is $2M, and needs $300K spending on it to turn it into a one family = $2.3M. If it's 5000sqft in total that's $460 per sqft. Condo's in the Sugarhouse range from $780 per sqft to $1000 per sqft. I know you can't make a direct comparison between a full luxury condominium and a brownstone, however it does help shed some light onto how the $2M price was arrived at.

Posted on: 2005/7/28 17:15
 Top 


Re: $2M Brownstone In Paulus Hook?
#18
Not too shy to talk
Not too shy to talk


I concede. You are wiser than I. Thank you.

Posted on: 2005/7/14 2:40
 Top 


Re: $2M Brownstone In Paulus Hook?
#19
Not too shy to talk
Not too shy to talk


Quote:
What valuation model are you using?


The model is extremely sophisticated and way too complex for simple num nuts to comprehend; fundamentally it's based around the share price of 4-year old tech stocks, the posiition of the Moon, what I had for lunch, and the strength of the stench of my socks. Patent Pending.

I never, never ever take into account:
1. Has the property previously had numerous FULL PRICE offers
2. The value of property in the neighborhood recently sold or for sale
3. The location
4. What a comparable property in NYC and/or Brooklyn, etc. would sell for
5. The unique characters of the property, i.e. is it a one of its kind rowhouse or a 1000sqft condo, and the supply of said properties.
6. The sophistication of the potential buyer: i.e. is the buyer able to either qualify for a $1M mortgage with $1M in cash or might possibly have $2M in cash, (usually a strong indicator of a financial idiot or "fool" lacking the ability to make a calculated judgment as to whether a property is correctly priced). Or are they a wise property shark taking a 100% $400K mortgage on a pre-construction condo "cuz it's gotta to be worth $800K when me flips it".

Posted on: 2005/7/13 22:37
 Top 


Re: $2M Brownstone In Paulus Hook?
#20
Not too shy to talk
Not too shy to talk


And another one ($150K less than $2M), but this one has a car parking space.

http://newyork.craigslist.org/jsy/rfs/84240107.html

Posted on: 2005/7/13 20:36
 Top 


Re: $2M Brownstone In Paulus Hook?
#21
Not too shy to talk
Not too shy to talk



Posted on: 2005/7/11 18:32
 Top 


Re: $2M Brownstone In Paulus Hook?
#22
Not too shy to talk
Not too shy to talk


Quote:
Anyone know which house it is?

The brownstone in question is on Sussex Street, the block between Washington and Greene, directly facing Pronto Cena.

My wife and I went into the building when it was originally on the market about 12 months ago. The owner was asking $1.3M, and received THREE full price offers.

So why didn't the owner sell then? Basically, the guy has owned the building for 20+ years. The ad on Craiglist is a little misleading, he has spent a lot on the place, none of wisely or to my taste. He's cut the interior up pretty badly, i.e. the parlor level is one unit, the second and third is a duplex unit (where the owner lives) and the top floor is another unit. The basement is nice, but again not done to my taste. There is very little original detail, even the staircase isn't original.

The owner's accountant talked the guy out of selling for $1.3M, because the owner doesn?t have a mortgage on the property and it?s generating about $4K a month in rental income. Anyway, he had original listed it for $1.3M thinking it was a high figure, then got the three full price offers, had second thoughts and took it off the market for 6 months and has put it back on the market for $2M.

Is it worth $2M? To me, no. It needs $350K+ spending on the interior to turn it into a beautiful single family brownstone. However, it's in the best area of Jersey City, on probably the best street, and probably the best block of the street.
Is it worth $1.3M? Obviously it is ? 3 full price offers confirms that.
Is it worth $1.5M? Probably when you compare the fact that 1800sqft in The Sugar House, with no view and no outdoor space is listed for $1.4M.
Is it worth $1.8M? Maybe, there's a brownstone on VVP which again needs $300K+ spending on the interior and the $2M brownstone is arguably in a better location.

Posted on: 2005/7/11 12:05
 Top 



TopTop






Login
Username:

Password:

Remember me



Lost Password?

Register now!



LicenseInformation | AboutUs | PrivacyPolicy | Faq | Contact


JERSEY CITY LIST - News & Reviews - Jersey City, NJ - Copyright 2004 - 2017