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

Members: 0
Guests: 44

more...




Browsing this Thread:   1 Anonymous Users






Re: 1BR vs 2BR vs 3BR on $/sq ft
#20
Home away from home
Home away from home


Hide User information
Joined:
2005/12/18 2:57
Last Login :
2017/9/14 20:15
From Crystal Point
Group:
Registered Users
Posts: 710
Offline

Posted on: 2016/1/26 17:57
 Top 


Re: 1BR vs 2BR vs 3BR on $/sq ft
#19
Home away from home
Home away from home


Hide User information
Joined:
2010/2/5 18:48
Last Login :
2019/7/7 17:42
Group:
Registered Users
Posts: 236
Offline
The link, below, is busted.
Any other options for square footage comparisons?

Posted on: 2016/1/26 17:16
 Top 


Re: 1BR vs 2BR vs 3BR on $/sq ft
#18
Newbie
Newbie


Hide User information
Joined:
2015/8/27 20:26
Last Login :
2019/2/11 17:53
From Jersey City
Group:
Registered Users
Posts: 15
Offline
Keller Williams Realty also puts out a quarterly market report that gives a breakdown of price per square foot in DJC and Hoboken as well.

Posted on: 2015/9/26 0:33
 Top 


Re: 1BR vs 2BR vs 3BR on $/sq ft
#17
Newbie
Newbie


Hide User information
Joined:
2015/8/21 15:21
Last Login :
2015/11/9 16:57
From Jersey City
Group:
Registered Users
Posts: 2
Offline
Nope, unfortunately I think you need to schedule a viewing and go through the whole pitch. It really only takes about 20 minutes to walk through the two models they have set-up.

Posted on: 2015/8/24 23:00
 Top 


Re: 1BR vs 2BR vs 3BR on $/sq ft
#16
Home away from home
Home away from home


Hide User information
Joined:
2004/11/8 3:36
Last Login :
2020/5/9 11:15
Group:
Registered Users
Posts: 943
Offline
Quote:

pitching101 wrote:
I bought in the Oakman, taxes at .9% and HOA in the low $400s for a 1BR with a balcony. For my sake I hope we one day see $2000 per sq foot lol


Is there a site where we can see unit layouts, sq footage and prices? There is nothing on their sales site.

Posted on: 2015/8/23 13:22
 Top 


Re: 1BR vs 2BR vs 3BR on $/sq ft
#15
Newbie
Newbie


Hide User information
Joined:
2015/8/21 15:21
Last Login :
2015/11/9 16:57
From Jersey City
Group:
Registered Users
Posts: 2
Offline
I bought in the Oakman, taxes at .9% and HOA in the low $400s for a 1BR with a balcony. For my sake I hope we one day see $2000 per sq foot lol

Posted on: 2015/8/21 15:37
 Top 


Re: 1BR vs 2BR vs 3BR on $/sq ft
#14
Newbie
Newbie


Hide User information
Joined:
2015/7/16 18:41
Last Login :
2016/11/20 9:25
From jersey city
Group:
Registered Users
Posts: 3
Offline
Quote:

bodhipooh wrote:
That was pure speculation on my part. I based that opinion on the fact that pre-sales tend to be very "targeted" and are often used as gauge of potential market interest. In this case, the pool of potential parties to which the pre-sales was open was the residents of their "sister" building (the ArtHouse JC) and that represents a very narrow slice of the market that they already know can potentially afford the new condos being built. If your pre-screened candidates are balking at the prices, you are likely pricing yourself too high.


Not so sure I agree that those renters will be considered as a significant gauge for what the overall demand curve will be for The Oakman and other new luxury DTJC condo will be. Once sales open to the public including all the NYC shoppers who are used to seeing luxury buildings with those kinds of luxury doorman buildings sell for over $2,000/sf with higher HOA and tax, the perception of what constitutes "too high" completely changes, and DTJC even at these new price heights becomes an attractive bargain alternative to consider.
I guess you can say I echo the others on these boards who say that certain areas of DTJC will continue to follow a similar path of Brooklyn, LIC, etc. where prices continue to surpass levels that nobody thought would be feasible.


Posted on: 2015/7/24 2:19
 Top 


Re: 1BR vs 2BR vs 3BR on $/sq ft
#13
Home away from home
Home away from home


Hide User information
Joined:
2008/8/12 18:31
Last Login :
2020/4/26 22:05
Group:
Registered Users
Posts: 3792
Offline
Quote:

JCMan8 wrote:
Quote:

bodhipooh wrote:
Quote:

jcguy05 wrote:
Quote:

bodhipooh wrote:

The Oakman also priced itself a little too high and word is that their pre-sales have been underwhelming and failed to meet projections. In fact, that has had an impact in their construction schedule, which is now running behind. I am sure they will be lowering prices soon. Once the condo building for Provost Square gets completed, some additional pressure may lower prices even further. I think the RE condo market is SUPER HOT in DTJC, but some of the prices being commanded are (in my opinion) a little too high, especially when you factor in the relatively high taxes that all new construction places will be paying (full 2.1% on what I have seen so far) and then add the HOA/condo fees from high end, luxury buildings, and the proposition of owning a condo in a high-end building becomes very daunting.


bodhipooh,

Are you sure oakman sales has started? when i emailed them they said sale wont start until sept, and i havent heard any updates since from the mailing list.

also Provost Square is a rental not a condo.


Yes, I am sure Oakman started the process of "pre-sales". There were private showings for residents, and that was expanded to "friends and family". If you call JCRealty, you can get someone to show you the demo units. The "public" sale period will not start until later this year.

As for Provost Square, the first phase (The Morgan) is an all rental building, but the next phases will include condo units. In total, there will be three buildings encompassing 925 rental and condo units.


If this is true, why would the Oakman lower its prices based on underwhelming "pre-sale" numbers? I'd think they'd wait to see how the public sale period goes before slashing prices.


That was pure speculation on my part. I based that opinion on the fact that pre-sales tend to be very "targeted" and are often used as gauge of potential market interest. In this case, the pool of potential parties to which the pre-sales was open was the residents of their "sister" building (the ArtHouse JC) and that represents a very narrow slice of the market that they already know can potentially afford the new condos being built. If your pre-screened candidates are balking at the prices, you are likely pricing yourself too high.

Posted on: 2015/7/23 18:41
 Top 


Re: 1BR vs 2BR vs 3BR on $/sq ft
#12
Home away from home
Home away from home


Hide User information
Joined:
2012/11/10 20:38
Last Login :
2018/2/1 3:02
From JC
Group:
Registered Users
Posts: 2907
Offline
Quote:

bodhipooh wrote:
Quote:

jcguy05 wrote:
Quote:

bodhipooh wrote:

The Oakman also priced itself a little too high and word is that their pre-sales have been underwhelming and failed to meet projections. In fact, that has had an impact in their construction schedule, which is now running behind. I am sure they will be lowering prices soon. Once the condo building for Provost Square gets completed, some additional pressure may lower prices even further. I think the RE condo market is SUPER HOT in DTJC, but some of the prices being commanded are (in my opinion) a little too high, especially when you factor in the relatively high taxes that all new construction places will be paying (full 2.1% on what I have seen so far) and then add the HOA/condo fees from high end, luxury buildings, and the proposition of owning a condo in a high-end building becomes very daunting.


bodhipooh,

Are you sure oakman sales has started? when i emailed them they said sale wont start until sept, and i havent heard any updates since from the mailing list.

also Provost Square is a rental not a condo.


Yes, I am sure Oakman started the process of "pre-sales". There were private showings for residents, and that was expanded to "friends and family". If you call JCRealty, you can get someone to show you the demo units. The "public" sale period will not start until later this year.

As for Provost Square, the first phase (The Morgan) is an all rental building, but the next phases will include condo units. In total, there will be three buildings encompassing 925 rental and condo units.


If this is true, why would the Oakman lower its prices based on underwhelming "pre-sale" numbers? I'd think they'd wait to see how the public sale period goes before slashing prices.

Posted on: 2015/7/23 18:13
 Top 


Re: 1BR vs 2BR vs 3BR on $/sq ft
#11
Home away from home
Home away from home


Hide User information
Joined:
2008/8/12 18:31
Last Login :
2020/4/26 22:05
Group:
Registered Users
Posts: 3792
Offline
Quote:

jcguy05 wrote:
Quote:

bodhipooh wrote:

The Oakman also priced itself a little too high and word is that their pre-sales have been underwhelming and failed to meet projections. In fact, that has had an impact in their construction schedule, which is now running behind. I am sure they will be lowering prices soon. Once the condo building for Provost Square gets completed, some additional pressure may lower prices even further. I think the RE condo market is SUPER HOT in DTJC, but some of the prices being commanded are (in my opinion) a little too high, especially when you factor in the relatively high taxes that all new construction places will be paying (full 2.1% on what I have seen so far) and then add the HOA/condo fees from high end, luxury buildings, and the proposition of owning a condo in a high-end building becomes very daunting.


bodhipooh,

Are you sure oakman sales has started? when i emailed them they said sale wont start until sept, and i havent heard any updates since from the mailing list.

also Provost Square is a rental not a condo.


Yes, I am sure Oakman started the process of "pre-sales". There were private showings for residents, and that was expanded to "friends and family". If you call JCRealty, you can get someone to show you the demo units. The "public" sale period will not start until later this year.

As for Provost Square, the first phase (The Morgan) is an all rental building, but the next phases will include condo units. In total, there will be three buildings encompassing 925 rental and condo units.

Posted on: 2015/7/23 17:25
 Top 


Re: 1BR vs 2BR vs 3BR on $/sq ft
#10
Quite a regular
Quite a regular


Hide User information
Joined:
2010/8/30 12:20
Last Login :
2015/12/9 3:01
Group:
Registered Users
Posts: 58
Offline
Can't get that report to load but any idea what the sq ft prices are in these places for 1 and 2BR?

Posted on: 2015/7/23 17:24
 Top 


Re: 1BR vs 2BR vs 3BR on $/sq ft
#9
Home away from home
Home away from home


Hide User information
Joined:
2013/1/23 19:44
Last Login :
2020/11/17 3:40
Group:
Registered Users
Posts: 315
Offline
Quote:

bodhipooh wrote:

The Oakman also priced itself a little too high and word is that their pre-sales have been underwhelming and failed to meet projections. In fact, that has had an impact in their construction schedule, which is now running behind. I am sure they will be lowering prices soon. Once the condo building for Provost Square gets completed, some additional pressure may lower prices even further. I think the RE condo market is SUPER HOT in DTJC, but some of the prices being commanded are (in my opinion) a little too high, especially when you factor in the relatively high taxes that all new construction places will be paying (full 2.1% on what I have seen so far) and then add the HOA/condo fees from high end, luxury buildings, and the proposition of owning a condo in a high-end building becomes very daunting.


bodhipooh,

Are you sure oakman sales has started? when i emailed them they said sale wont start until sept, and i havent heard any updates since from the mailing list.

also Provost Square is a rental not a condo.

Posted on: 2015/7/23 14:34
 Top 


Re: 1BR vs 2BR vs 3BR on $/sq ft
#8
Home away from home
Home away from home


Hide User information
Joined:
2008/8/12 18:31
Last Login :
2020/4/26 22:05
Group:
Registered Users
Posts: 3792
Offline
Quote:

sdb55 wrote:
Quote:

bodhipooh wrote:


The Oakman also priced itself a little too high and word is that their pre-sales have been underwhelming and failed to meet projections. In fact, that has had an impact in their construction schedule, which is now running behind. I am sure they will be lowering prices soon. Once the condo building for Provost Square gets completed, some additional pressure may lower prices even further. I think the RE condo market is SUPER HOT in DTJC, but some of the prices being commanded are (in my opinion) a little too high, especially when you factor in the relatively high taxes that all new construction places will be paying (full 2.1% on what I have seen so far) and then add the HOA/condo fees from high end, luxury buildings, and the proposition of owning a condo in a high-end building becomes very daunting.


There may be some new construction with a full 2.1% tax, but I have visited The Oakman and they have a 20-year tax abatement starting around 0.9%. Not sure about the other buildings in the area but I'd have to assume they are not the only one with an abatement.


Thanks for the information on the abatement. I had heard they had an abatement but wasn't sure what it was. I have been meaning to go check out the units and get all the relevant details, but I haven't had a chance to do so.

Posted on: 2015/7/23 14:19
 Top 


Re: 1BR vs 2BR vs 3BR on $/sq ft
#7
Newbie
Newbie


Hide User information
Joined:
2015/7/16 18:41
Last Login :
2016/11/20 9:25
From jersey city
Group:
Registered Users
Posts: 3
Offline
Quote:

bodhipooh wrote:


The Oakman also priced itself a little too high and word is that their pre-sales have been underwhelming and failed to meet projections. In fact, that has had an impact in their construction schedule, which is now running behind. I am sure they will be lowering prices soon. Once the condo building for Provost Square gets completed, some additional pressure may lower prices even further. I think the RE condo market is SUPER HOT in DTJC, but some of the prices being commanded are (in my opinion) a little too high, especially when you factor in the relatively high taxes that all new construction places will be paying (full 2.1% on what I have seen so far) and then add the HOA/condo fees from high end, luxury buildings, and the proposition of owning a condo in a high-end building becomes very daunting.


There may be some new construction with a full 2.1% tax, but I have visited The Oakman and they have a 20-year tax abatement starting around 0.9%. Not sure about the other buildings in the area but I'd have to assume they are not the only one with an abatement.

Posted on: 2015/7/23 13:58
 Top 


Re: 1BR vs 2BR vs 3BR on $/sq ft
#6
Home away from home
Home away from home


Hide User information
Joined:
2008/8/12 18:31
Last Login :
2020/4/26 22:05
Group:
Registered Users
Posts: 3792
Offline
Quote:

Dolomiti wrote:
FYI, the Najjar Group puts out a (paper) report of recent sales in JC and Hoboken, which includes breaking down monthly costs by square foot. You may want to check with them, see if you can get a copy, which should give you a rough idea of any price differences based on unit type and size.

Also, keep in mind that condo inventory is very tight right now. I think it's difficult to find any condo right now, and as soon as something goes on the market, it can get numerous bids right off the bat.


Indeed, many condos going to market get multiple bids (many all cash offers) but that is a result of foreign buyers participating in our market, and desirable/good units. Not every condo is being snapped up. The Gannon is about 27 units, and only 7 or 8 have sold. They have been at it for over a month, maybe two, now and that is a fairly slow pace for what is supposed to be a hot market. I know for a fact that they just lowered their prices by a good amount. New price sheets are being printed and distributed during visits.

The Oakman also priced itself a little too high and word is that their pre-sales have been underwhelming and failed to meet projections. In fact, that has had an impact in their construction schedule, which is now running behind. I am sure they will be lowering prices soon. Once the condo building for Provost Square gets completed, some additional pressure may lower prices even further. I think the RE condo market is SUPER HOT in DTJC, but some of the prices being commanded are (in my opinion) a little too high, especially when you factor in the relatively high taxes that all new construction places will be paying (full 2.1% on what I have seen so far) and then add the HOA/condo fees from high end, luxury buildings, and the proposition of owning a condo in a high-end building becomes very daunting.

Posted on: 2015/7/23 13:06
 Top 


Re: 1BR vs 2BR vs 3BR on $/sq ft
#5
Home away from home
Home away from home


Hide User information
Joined:
2004/11/14 2:38
Last Login :
4/12 18:14
Group:
Registered Users
Posts: 3653
Offline
Quote:hold on, one cotton picking minute! i thought the reason the new buildings were getting abatements was because families with children that would attend jc public schools were not going to be living there; jc public schools are funded through the county tax if i am not mistaken

Posted on: 2015/7/23 12:01
 Top 


Re: 1BR vs 2BR vs 3BR on $/sq ft
#4
Just can't stay away
Just can't stay away


Hide User information
Joined:
2014/5/23 1:27
Last Login :
2/23 1:38
From Bergen Hill
Group:
Registered Users
Posts: 90
Offline

Posted on: 2015/7/23 2:06
 Top 


Re: 1BR vs 2BR vs 3BR on $/sq ft
#3
Home away from home
Home away from home


Hide User information
Joined:
2012/8/6 22:56
Last Login :
2019/11/14 1:56
Group:
Registered Users
Posts: 1022
Offline
FYI, the Najjar Group puts out a (paper) report of recent sales in JC and Hoboken, which includes breaking down monthly costs by square foot. You may want to check with them, see if you can get a copy, which should give you a rough idea of any price differences based on unit type and size.

Also, keep in mind that condo inventory is very tight right now. I think it's difficult to find any condo right now, and as soon as something goes on the market, it can get numerous bids right off the bat.

Posted on: 2015/7/22 13:52
 Top 


Re: 1BR vs 2BR vs 3BR on $/sq ft
#2
Home away from home
Home away from home


Hide User information
Joined:
2008/8/12 18:31
Last Login :
2020/4/26 22:05
Group:
Registered Users
Posts: 3792
Offline
Quote:

scrappe7 wrote:
Curious what the current DTJC condo market looks like in terms of 1, 2 and 3BR. A few years ago 1BRs, assuming in the same building and similar finishes, were about 15-20% higher on a $ per sq ft basis compared to 2BR units. Is that premium still true or do you think there is more demand now for larger condos? Hard to even find 3BRs so maybe just comparing 1 and 2 bedroom units is better. Just curious what people are seeing.

Thanks


There does seem to be a bit of a premium on 1BR units, but that's easy to explain. There are some base costs that are the same/similar regardless of number of bedrooms: some elements will be the same amount, such as kitchen appliances and cabinets are the same amount/volume for both type of units, the amount of doors inside (except, perhaps the additional one for the extra bedroom, and perhaps the closet space/area) and other such things. What I do find interesting is that builders have been slow to introduce larger units into the marketplace. Finding a three bedroom is hard, both for rentals and for sale. The ArtHouse JC had a total of ~12 (including two penthouses) which is a smidgen over 10%. The Morgan has a handful of 3-bd units, and that is a HUGE building. Maddox didnt have any, and I think Warren at York didn't have any either. It's a shame. I think that for young, growing families, one of the problems with JC is not just the subpar school system, but also that the availability of housing stock to accommodate a growing family is sorely lacking.

Posted on: 2015/7/22 12:30
 Top 


1BR vs 2BR vs 3BR on $/sq ft
#1
Quite a regular
Quite a regular


Hide User information
Joined:
2010/8/30 12:20
Last Login :
2015/12/9 3:01
Group:
Registered Users
Posts: 58
Offline
Curious what the current DTJC condo market looks like in terms of 1, 2 and 3BR. A few years ago 1BRs, assuming in the same building and similar finishes, were about 15-20% higher on a $ per sq ft basis compared to 2BR units. Is that premium still true or do you think there is more demand now for larger condos? Hard to even find 3BRs so maybe just comparing 1 and 2 bedroom units is better. Just curious what people are seeing.

Thanks

Posted on: 2015/7/22 12:19
 Top 








[Advanced Search]





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