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Re: Jersey City mayor-elect orders end to citywide reval
#1
Home away from home
Home away from home


totally agree. Simple math is not fear mongering. RE brokers really should do the right thing and disclose the probability that many homes will see significant tax increases. I'm not holding my breath...

I really think the test for DTJC RE is psychological. It was one thing when you could get a single family rowhouse for $1mm and change and pay 12K in taxes. It's a whole different ballgame when you are paying $2mm+ and 40K in RE taxes. All of sudden the so-so services, weak public schools, PATH crowding, etc don't seem like such a good value for the RE taxes being paid. Put another way - will people pay Summit, NJ taxes and accept inner city service levels.

Time will tell...

Posted on: Today 12:18
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Re: Jersey City mayor-elect orders end to citywide reval
#2
Home away from home
Home away from home


so check this out - 133 Mercer St being listed for $3.595mm. They list in their financials page that they pay about 21K in property tax. If they even get 2.5mm they are still gonna see a big uptick in property taxes.

This building is cut up into 4 floor through rentals. It is well maintained and still has a lot of detail.

Maybe I'm underestimating the feeding frenzy in DTJC but I'm not sure 3.595mm is realistic with a $131K rent roll. Perhaps others who know mutli family finance can chime in on what a typical multiple is to annual roll.

Here's the webpage for the building with details...
http://www.133mercer.com/financials.html

Posted on: Yesterday 17:45
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Re: Vogue Cafe - new French cafe on York & Marin
#3
Home away from home
Home away from home


small biz owners around Paulus Hook have expensive leases and these guys are cooking with high quality ingredients. I'm happy to pay a bit more for the real deal.

Posted on: 1/17 17:21
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Re: Turntable repair
#4
Home away from home
Home away from home


yeah will likely get them overhauled.

If anyone has any people or places they recommend for this type of work LMK. Thanks...

Posted on: 1/17 9:59
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Re: Turntable repair
#5
Home away from home
Home away from home


Speakers are Fried Studio IV from early 80s and they have Hiquphon tweeters. The company still makes Fried replacements and I may have to go that route.

In 3 Stooges fashion I bobbled the tweeter and it fell about a foot and hit the driver frame. It hasn't been happy since...

Posted on: 1/16 13:19
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Re: Turntable repair
#6
Home away from home
Home away from home


Listening to my Dad's hand me down Dual 604 right now. Hope you can get yours in order.

Does anyone know of a speaker repair shop that can deal with early 80s Fried speakers that have soldered connections? I managed to damage one tweeter and need some help...

Posted on: 1/16 11:51
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Re: Anatomy of a Back-Room Deal
#7
Home away from home
Home away from home


that article, even if half accurate, is totally depressing...

These are the people in charge of a roughly $675mm budget...

Posted on: 1/11 7:59
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Re: Vogue Cafe - new French cafe on York & Marin
#8
Home away from home
Home away from home


Highly recommend Vogue Cafe. Croissants and sandwiches are made on site by very friendly owner/operators.

So many of the places opening around DTJC are run by professional restaurant groups. It's refreshing to have some new owner operated places that deliver great quality and a bit more authenticity.

Posted on: 12/17 16:57
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Re: Capital One Eliminates People
#9
Home away from home
Home away from home


Maybe they are stuck in a long lease but it seems ridiculous to keep that much space for what is essentially a handful of ATM machines. There were 2 when i was last in there a few weeks ago.

Totally depressing, that building has a ton of great architectural detail but you'd never know inside...

Posted on: 12/15 9:37
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Re: Helicopters over the Hudson
#10
Home away from home
Home away from home


If given a choice between NYC and JC they will stay on the NJ side. Just like they do with the endless heli-tours...


Posted on: 12/13 10:13
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Re: Helicopters over the Hudson
#11
Home away from home
Home away from home


The news choppers are very annoying. They never hover over NYC they hammer NJ. These choppers will be replaced by drones - the sooner the better.

Let city hall know they hurt your quality of life. They do track a Aviation noise complaints

Posted on: 12/13 8:25
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Re: Buy this beauty - and pray the reval never happens!
#12
Home away from home
Home away from home


well if 2% is the going rate for JC property taxes and some chump hits their $3mm ask, they're looking at a cool $60K a year in taxes. Not bad for getting your trash hauled and mediocre to bad school options.

Though they are close to the PATH...

Posted on: 12/8 20:40
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Re: Buy this beauty - and pray the reval never happens!
#13
Home away from home
Home away from home


well if 2% is the going rate for JC property taxes and some chump hits their $3mm ask, they're looking at a cool $60K a year in taxes. Not bad for getting your trash hauled and mediocre to bad school options.

Though they are close to the PATH...

Posted on: 12/8 20:40
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Re: How teachers unions drive Jersey’s pension crisis
#14
Home away from home
Home away from home


the can is also kicked down the road with unrealistic pension return assumptions. Low fixed income rates and volatile equities make actuarial assumptions tough.

Posted on: 12/5 14:43
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Re: New Bar coming Coles and Maxwell Alley
#15
Home away from home
Home away from home


the restaurant isn't going into the Joe's space but the other 1 story building that is across Maxwell Alley that has a bunch of clutter in front of it - including what looks like an ancient rusted out ice cream truck. That said I'm sure Joe did nicely on his RE if he sold...

Posted on: 2016/11/17 18:40
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Re: New Bar coming Coles and Maxwell Alley
#16
Home away from home
Home away from home


yes I liked the guys at joes too - they relocated to Bayonne...

Looks like the restaurant will be Gringos Taqueria. Sounds good!

Posted on: 2016/11/17 18:04
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New Bar coming Coles and Maxwell Alley
#17
Home away from home
Home away from home


anyone know the story on that old industrial building right opposite the space where Joe's Auto Electric was? They've been gutting it for a few weeks and the guys today told me a bar was going in.

Joe's Auto is now closed and they tore down the building behind it on Coles and Columbus which had been derelict for years.

Seems like any available commercial space is getting converted to a bar or restaurant.

Posted on: 2016/11/17 14:10
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Re: Buying in Heights??? Good investment.
#18
Home away from home
Home away from home


excellent advice. If you can get an officer's attention when they are not busy they can be great resources. Also try to find some old timers who have seen the trends come and go. Walking around on a nice day you can always find some people willing to talk about their neighborhood.

My take is all of JC is a bit ahead of itself, but time will tell. Rates are a big variable and the degree to which Brooklyn holds up or gets cheaper will also directly impact JC.

Posted on: 2016/10/27 16:48
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Re: 10-Year-Old Boy Struck By Bus on JFK/Neptune
#19
Home away from home
Home away from home


I can't even begin to understand how hard this must be for the boy's family.

Everyone knows Kennedy Blvd is very dangerous. Yet no serious traffic calming occurs. Yeah county road versus local jurisdiction blah blah blah. JC step up and work on the problem!

Same goes for Grand St, Montgomery etc where you see maniacal driving on a regular basis...


Posted on: 2016/10/14 14:16
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Re: FULOP, DEAL WITH PEDESTRIAN & BIKE SAFETY!!
#20
Home away from home
Home away from home


a few months back someone did a time lapse video at jersey and York. It got quick attention and was used on the local news.

Good video can get attention especially when it is embarrassing to the City

Posted on: 2016/9/30 18:53
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Re: Fulop won't run for governor, will back Murphy, sources say
#21
Home away from home
Home away from home


looks like Steve Underwood is getting exposed...

Posted on: 2016/9/29 9:50
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Re: Hard Grove Cafe
#22
Home away from home
Home away from home


Real Estate 101 teaches that all else equal a home in a quiet spot will have a higher value per square foot than one next to a club open til 2AM.

Brightside Tavern has been a consistent problem for their neighbors. I'm told the owner has been reasonably helpful and tried to work with the neighbors. Even with owner assistance there are still quality of life issues that would not be there if there was no bar.

328 owners want live music and a sidewalk cafe. Do you really think they are properly soundproofing the structure?


Posted on: 2016/9/14 15:13
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Re: Hard Grove Cafe
#23
Home away from home
Home away from home


If you look at the streets which share the courtyard with 328 - Mercer, Varick and Monmouth are all residential. Montgomery has a laundry place and a shuttered museum; otherwise residential. Laundry spots tend not to lead to late night drunken noise, loud commercial HVACs, kitchen exhaust smell, etc.

No chip, just been around the block long enough to know that putting a big bar in a residential area leads to a lot of quality of life negatives, lower property values etc.

Posted on: 2016/9/13 17:40
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Re: Hard Grove Cafe
#24
Home away from home
Home away from home


DanL - unfortunately 328 Montgomery is in the Montgomery Gateway Redevelopment area. The Plan was written back in tbe 1970s when that stretch was vastly different than it is today. This is exhibit A for why the city needs a new master plan.

It makes no sense to have a 2500 square foot club/restaurant in an area that is otherwise residential. Furthermore, the owners are counting on the JCFD to NOT enforce the 49 person max occupancy.

Those who know restaurant math - please share the economics on how any owner could make money leasing 2500 sq. feet with a max occupancy of 49 (staff included)...

Posted on: 2016/9/13 9:28
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Re: Hard Grove Cafe
#25
Home away from home
Home away from home


DanL - unfortunately 328 Montgomery is in the Montgomery Gateway Redevelopment area. The Plan was written back in tbe 1970s when that stretch was vastly different than it is today. This is exhibit A for why the city needs a new master plan.

It makes no sense to have a 2500 square foot club/restaurant in an area that is otherwise residential. Furthermore, the owners are counting on the JCFD to NOT enforce the 49 person max occupancy.

Those who know restaurant math - please share the economics on how any owner could make money leasing 2500 sq. feet with a max occupancy of 49 (staff included)...

Posted on: 2016/9/13 9:28
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Re: Hard Grove Cafe
#26
Home away from home
Home away from home


not sure anyone knows whether it will be Hard Grove 2 or something else.

what is public are the architectural plans and they show a very small number of dining tables and a lot of space devoted to bar/lounge area...


Posted on: 2016/9/12 8:56
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Re: Hard Grove Cafe
#27
Home away from home
Home away from home


There is only 1 ingress/egress. The ground floor is 100% lot coverage and thus no other possible entrance/exit without trespassing on neighboring properties. The plans are public...

Posted on: 2016/9/7 11:55
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Re: Hard Grove Cafe
#28
Home away from home
Home away from home


It's a nightclub pretending to be a restaurant. No sane person wants this in a historic district/residential area given all the associated problems.

You think they're gonna do a good job soundproofing it? You think they're gonna stick to their max occupancy of 49 (staff included) daily? Do the owners have a good track record with neighborly relations?


Posted on: 2016/9/7 9:39
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Re: Hard Grove Cafe
#29
Home away from home
Home away from home


This location is crazy. It is a residential area and Historic District.

So yes, customer noise is an issue as is kitchen venting, commercial HVAC noise etc.

That said, I can't see why anyone would make the effort to go to such an oddball location...

Posted on: 2016/9/6 8:46
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Re: Residents Say Drivers Are Ignoring Stop Signs, Flying Through Jersey City Intersection
#30
Home away from home
Home away from home


does anyone know what type of camera Sean Popke used to film the intersection?

I am not exactly tech savvy but can learn. iPhone, other? Thanks for any ideas on best way to do something similar...

Posted on: 2016/7/6 9:58
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