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Re: The Beacon
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Home away from home
 
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So, this is a feather in Sheldon Goode's cap.
Quote: but if bidding slowed down, they simply pulled remaining units from the auction and did a "final call" for them at a fixed price. So then can we presume that some of these were held back and not sold? Or were they snapped up at that "fixed price?" The latter seems unlikely if only one person chose to bid that high. Were any 2 bedrooms withheld from auction? I've often seen that "absolute price" needed the suffix "in your dreams." Anyone have the poop on the lowest price for a "lovely" low floor one bedroom overlooking Palisade Avenue.
Posted on: 2009/6/29 13:55
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Just can't stay away
 
Joined:
2007/10/16 15:41 Last Login : 2022/12/5 15:16 From Jersey City Heights
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Those 305-450K numbers were only 2bd units... the auction split up the 2bd and 1bd units and I only stayed for the 2bd units.
Its complicated, they had a weird way of assuring that units sold for a minimum price. There may not have been an official reserve, but if bidding slowed down, they simply pulled remaining units from the auction and did a "final call" for them at a fixed price. So the cheapest 2bd units were fixed at 305K, nothing cheaper, these were smaller, low-floor units with no views. Best units (high, 1200+ ft, views) all sold for 350K and up. The most expensive one was $430K. I was wrong on the 450 number. The priciest units had 1300 sq ft and NYC views. Keep in mind that is before 10% auction premium. I think better deals are available direct from sellers. Nobody stole any condos at this auction.
Posted on: 2009/6/29 13:44
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Home away from home
Joined:
2007/10/9 19:48 Last Login : 2013/2/18 15:54 From Van Vorst Park
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Quote:
Those one bedrooms that are being listed on Liberty for lower prices are the bottom of the barrell units on low floors with no views. I don't live in the Beacon or in it's area but it's good for all Jersey City property owners that they did well at the auction. I'm not a realtor either. I'm very happy for the Beacon owners and Metrovest. Their continued success will only help to bring their neighborhood up to the high standards that some of us downtown have been holding them to.
Posted on: 2009/6/29 13:24
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Re: The Beacon
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Home away from home
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The reserve doesn't make sense to me either. Especially since if you go to Liberty Realty's website they have 1bdr's at The Beacon listed for $225,000... so you can get the units cheaper than the auction price.
Guess I'll either have to speak to them or wait for the next auction, all of which is predicated on my selling my current condo in Hoboken. Failing that, I'll have to move back into it.
Posted on: 2009/6/29 12:54
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Not too shy to talk
 
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are you sure about the 450k high end number, my agent told me min 240k for one bedroom and max 424k 2 bedroom. anyway, i would actually take this as somewhat of a success as these people are paying higher than the previous market price with the winning bids.
auctions, they can really mess with your minds.....
Posted on: 2009/6/29 3:31
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i thought these were being marketed as "going to sell at any price".. how did they have a reserve price?
Posted on: 2009/6/28 18:33
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Just can't stay away
Joined:
2007/10/16 15:41 Last Login : 2022/12/5 15:16 From Jersey City Heights
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I went to this auction yesterday. I only stayed for the 2bd unit auctions, since I had no interest in the 1bds.
The system was pretty weird, but there were reserves on basically all units. $350K for the ones with NYC views and 1200+ sq feet, etc., and $305K reserve on the rest. The sales ranged from 305K for 2beds with less than 1000 sq feet and poor views, to $450K for the high, large units with NYC views and/or terraces. Also, the buyers need to add 10% to those numbers for the auction premium, so they really paid $335 - $500 for them. Basically the low end of market pricing right now for JC condos. Nobody walked away with any steals and Metrowest managed to unload all their inventory. Metrowest still is holding onto some units, I think. Quote:
Posted on: 2009/6/28 14:39
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Thanks Peter,
Any idea on the prices? (So when Metrovest hinted it was selling the "LAST 25" at auction so it could move on with other projects, it was fibbing a bit? I wonder how many are still in Metrovest's hands?) Since the auction appears to have gone well, I guess we can look for many more to follow. I remember well the early '90's real estate bust where you could go to several auctions any weekend.
Posted on: 2009/6/28 12:22
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Newbie
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http://www.beaconowners.com/Rialto-Ca ... /viewtopic.php?f=4&t=1441
not just 25 - but 34-35! I guess there WAS some interest  And the Metrovest was feeling good about the prices to go beyond the 25 guaranteed... to sell another 9 or 10 on top of what happened.Can't wait to hear the detractors take on this, and try to corrupt it into some sort of failure.
Posted on: 2009/6/28 4:53
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Home away from home
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Well,
Today's the 27th. Did anyone attend the auction? Can you give us an approximate breakdown of how the sales went? Did they sell the 12 absolute, did they sell the other 13?
Posted on: 2009/6/28 3:40
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Just can't stay away
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+1
Exactly!
Posted on: 2009/6/26 15:06
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Re: The Beacon
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Home away from home
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That is precisely why I asked what I asked about a nice neighborhood, CChester. I moved to JC from Brooklyn, and the first time I drove around the Grove Path area, I thought it looked rough, with a lot of the same "types" of people strolling around that others have noted near the Beacon, classifying it as "not nice." Plus, I did not think the streets and businesses looked very appealing as I drove around downtown. Kind of like people who drive past the Beacon twice a day, I would have continued thinking that, had I not listened to people on this list, and ventured into the area establishments myself.
JC, overall, is generally a gritty looking place, and a place I like. Only the very sterile, waterfront properties would not evoke possible mixed reactions from people who are used to really nice neighborhoods. I frankly don't see a HUGE difference driving from some of these classified "war zones" (such an exaggeration, btw) and the ordained better sections. I am not talking about the gutted out, condemned areas with hordes milling about and obvious drug deals, which DO exist---just the more neutral, representative streets in these areas. So if you are judging neighborhoods on how things look when you drive by, just remember to keep the true sensory perception and sensibilities straight.
Posted on: 2009/6/26 15:05
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Home away from home
Joined:
2007/11/28 3:26 Last Login : 2014/10/27 13:13 From The fog.
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Do you really wonder why Beacon folks get upset when you refer to their neighborhood as a sh*thole? Let them be. Why do you insist on telling them over and over what you think of their neighborhood? Does their apparent contentment in their homes upset you?
I think all of JC is pretty sh*t-holey, so this thread is still amusing to read. Liberty Harbor is like an abandoned movie set. Hamilton Park will never be confused with Notting Hill. Paulus Hook will never be confused with Montmartre. We live in Jersey City, so who are we to knock anyone's neighborhhood? Glass houses, stones, etc.
Posted on: 2009/6/26 14:21
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I am curious, what IS the definition of a "nice neighborhood?"
Posted on: 2009/6/26 13:29
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lol, no thanks i already own my house. why would i rent a condo?
 and the slights at PH were tongue in cheek in case you couldn't tell.
Posted on: 2009/6/26 13:19
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Just can't stay away
Joined:
2006/5/17 14:30 Last Login : 2018/12/13 3:14 From Paulus Hook
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Quote:
So easily upset. Sounds like someone has a chip on their shoulder about where they live too. Keep saving those pennies big guy. I'll rent you one of my condos someday... a small one. What a tool....
Posted on: 2009/6/26 13:15
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What stereotype did I use to describe the inhabitants of said castl...err.. Beacon. I described the COMPLEX itself as being castle-like, which I believe it is. I don't consider that to be a bad thing. I happen to like the old architecture and design of old European castles.
Posted on: 2009/6/25 23:11
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if you really want him to stop campaigning, why don't you go to his 'hood' and ask him to? oh that's right, because you think it's a sh*t hole and you're scared that someone would knock your teeth out and put a brick through your car window. well, we get it. you think the place sucks. so you (and everyone else who thinks it sucks) STFU unless you have the intention of going down there and telling the people who live there it sucks. otherwise you're just a bunch of internet posers living out your downtown jc inferiority complex by trashing other people's neighborhoods via a message board. yes the beacon/hilltop area may not be paris. but paulus hook certainly isn't the upper east side. it's not even hoboken for that matter. if you don't like a place, then don't live there. if you like it, then live there. there's such a thing as constructive criticism / opinions about a place, but after awhile, it's just needless bashing for the sake of bashing. but what do i know, i only live in the heights.
Posted on: 2009/6/25 21:41
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Just can't stay away
Joined:
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Wow, that was a very touching entry. Almost made me shed a tear! The fact that some residents of Manhattan look down on the borough and JC is due to ignorance. They truly don't realize that there are nice areas outside of the city. Areas that they themselves would like, if they actually ventured out to see them in person. Not quite the same as what you're alluding to. I don't think of the Beacon's area as a dump simply because it's not near the waterfront. I've been to that area. In fact, I drive by the Beacon twice a day. It's NOT a nice neighborhood. It' not. Period. This thread is so ridiculous. A bunch of Beacon residents arguing with the rest of JC about how nice that part of JC is. If we just agree with you, maybe you'll finally stop campaigning for the neighborhood. You're right, the area is gorgeous. Montgomery Gardens is a beautiful complex. Oh, and that run-down strip mall across Montgomery is wonderful. I'm always tempted to stop in and do some shopping at the dollar store there! The south side of the Beacon is another hidden gem of JC. A bunch of chop shops and deserted lots. Sort of reminds me of the area near Shea Stadium. Truly magnificent!!!
Posted on: 2009/6/25 21:11
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Dont worry, we know better than that.
Posted on: 2009/6/25 21:05
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Quite a regular
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I can't believe I spent my time reading this thread today (must be really bored), but I have to reply really quick to defend the area a bit, from comments like the one below:
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OK, I actually live in the area, closer to the square in the Hilltop neighborhood, but still I walk or ride my bike to Saint Peter's everyday for work. I often run down Baldwin from my place past the Beacon and back on weekends, in afternoons, and in the morning. I think many of you are being a bit extreme in describing the area. It's not like everyone who doesn't live in the Beacon is some type of felon or trouble-maker. Many of my colleagues--professors and staff--live in this part of Jersey City. Many of us are quality people. A community of Jesuits also lives nearby. Sometimes I think of Saint Peter's as a bit of an oasis in this somewhat dirty city (much like Fordham in the Bronx) and perhaps the Beacon residents think of their place as an oasis as well. This doesn't, however, mean that the rest of the neighborhood is complete trash. I welcome the Beacon residents and I hope they don't think everyone outside the complex is super-ghetto and scary the way some posters here who do not live in the area imply.
Posted on: 2009/6/25 21:02
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Castle...moat...please dont put some kind of stereotype or generalization on us, how would you feel if people who didnt know you did that to you? I live at the Beacon, I dont have a car, I shop via foot locally, have a drinks at astor bar, ride my bike to and from there all the time, walk to JSQ, walk to lincoln park, have explored the reservoir, ice skate at perishing field, etc. Its almost like...well...everywhere else i have lived in this city or elsewhere. Everyone is different, some need it a certain way to be comfortable. Some dont like cities because they are crowded or dirty or too fast paced or they are afraid of what they don?t know. There are people in Manhattan who refuse to go above 100 st or to an outter boro or worst of all to "Jersey"! I am gathering from this thread that this type of thing happens in Jersey City too with some people from the waterfront. Its a shame, but it is what it is. As long as you are comfortable where you are...who cares, enjoy where you live, please dont disparage other people or where they live. It is just not polite. I lived on the waterfront in portside towers, then on Steuben St, then in Hoboken, and then chose to live in the Beacon area 100% on purpose, and I love where i live.
Posted on: 2009/6/25 20:45
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Just can't stay away
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That is very sensible.
Posted on: 2009/6/25 20:28
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Nothing gets past you... a good homebuyer checks out the neighborhood at ALL times of day and night.
Posted on: 2009/6/25 19:34
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So, if you saw those individuals who were not at work, then I guess that means you were not at work either 
Posted on: 2009/6/25 18:41
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Home away from home
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As in the past the discussion about The Beacon has led to some interesting views on many topics. I am done with debating unless more misinformation gets put out there. And no matter what the results are on Sunday, I am staying. Where else would I go that doesn't have the same financial housing bubble burst? Might as well ride it out in style
Posted on: 2009/6/25 17:55
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Not too shy to talk
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Let's all settle down here. Sunday is judgement day. Let's see what happens. Let's see if 1BRs go for $170JK or $340K. We'll soon find out what people think about the Beacon. Money talks, and BS walks.
Posted on: 2009/6/25 17:49
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Home away from home
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I watch folk walk by at all times of the day and only some of the younger guys dress like that--and they are hardly thugs. My son lives in Manhattan and is white and dresses like that. I think it's a national uniform. Some of my neighbors wear 99 cent rubber flip flops. Watch out!!!! Anyway, this is an old argument even on other threads. I doubt I'll change your preconceived notions about people. I DO hope to change your notions about The Beacon and our positive contribution to the area. I am looking forward to M650 too.
The rumor is there may be a large grocery store by the new housing which will bring more revenue to JC and another incentive for homebuyers/renters to move here.
Posted on: 2009/6/25 17:28
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The thug looking people with white t shirts down to thier ankles with do rags and the like. And that includes people of all races, dressed alike. But I'm sure they are really great people to be around. You keep talking about the retail plaza and school that is "soon to be open". That will turn the area around in a heartbeat.
Posted on: 2009/6/25 17:11
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Call me ignorant, but in the past didn't they think the high rise projects were good ideas as well? Yes, I have seen the projects in question. While I will agree that it does look nicer, there is still the old saying about putting lipstick on a pig...
Posted on: 2009/6/25 17:08
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