Any thoughts on starting a user group for future residents of Crescent Court? We can ask the builder to keep everyone apprised of progress?

I second that...

why would you say Crescent Court just became interesting...any reason it wouldn't be with only a 5 year abatement?

by dieselpowerd on 2010/1/29 13:18:35

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BrightMoment wrote:
Quote:


lisamisa wrote:
Does anyone have any "new" insights into this condo? It does seem like a great bargain for comparable condos in downtown JC.

To buy or not to buy... what do you think?



In tonight's Tax Increase Protest at City Council, one of the speakers specifically drew attention to Crescent Court and how it typified the "30 year abatements" on taxes that most JC residents who own their condo/house saw increase 25 fto 30% with this quarter and last year's tax increase. One woman in Paulus Hook spoke about how she and her husband were facing a tax increase comparable to their mortgage and were contemplating just walking away from their condo due to tax increase. See the link here for the full NYT article: Walk Away From Your Mortgage!



Crescent Court has a 30 year abatement for residents? Please explain. Most condos downtown have 5 year abatements. Does Crescent Court really have 30? Crescent Court just became interesting.... Given the volatility of taxes in JC a 30 year guarentee would be compelling...

Crescent court has a 5 year abatement...

thoughts, comments?

check out some of the comments following the link on post #12...hilarious and scary!

this is criminal...esp on tax payer dollars...

awesome video!!!

as a prospective DTJC resident, i don't know if i see this as a good thing or a bad thing...on one side, property values are increasing, on the other so are taxes...i see a lot of rental/sales supply with demand dwindling which concerns me about long-term sustainable growth in RE in DTJC

I am not siding with PA but NJ transit is another complete mess...you will know if you've ever taken any trains in and out of Penn...I actually don't feel path is bad, it could use more service, cars could be cleaner but that can be said for the city subways as well.

Project in question is Crescent Court and I don't believe they are part of a Pilot program. Sales agent told me purchase price or deed price would be assessed value since tax assessor has nothing else to go buy and he said the taxes would be calculated at 1.6% of the purchase price. I've heard folks say the increase would be 30% which would take the 1.6 to 2.08 but this does not compute for me to a $800 per $100000 "assessed" value increase. Sorry not trying to be difficult...just want to have my facts before making such a large purchase/living decision.

How about 5th and Brunswick...I know the Gas station and mechanic shop are around there and it can get pretty busy with traffic...is it noisy, safe, etc?

Any thoughts on how this impacts people looking to buy into downtown JC? Are the taxes being advertised for new properties going to go up the same way i.e. $800 for every $100000 assessed? For new homes, sales agent told me sale price is assessed price, can any one confirm?

Any one worried about price/sft and long term tax implications with what's underway at city hall? How would you compare this project/location to the one on 369 5th street?

There are plenty of completed units for you to see and get a feel for the bldg beyond the showroom. I wouldn't say they are high end but they look high end...they're not ikea either though...sound proofing actually seems OK...big concern i have as a potential buyer is the completion dates, still plenty of units remain unsold and a few units are falling out of contract...