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Re: schroeder lofts - hamilton park
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first off, i want to thank everyone for their help and advice. i have decided on a place on the river in weehawken by the ferry. smaller space, but i think it fits my needs well.

thank you for your time and advice!!! i am very excited about my new place and am feeling very happy.

Posted on: 2006/3/3 14:32
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Re: schroeder lofts - hamilton park
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Quote:

koalahugs77 wrote:
I am looking to buy (first time!) in JC and my budget allows me to go up to 415k. I am looking for a 1 bedroom and I thought Schroeder Lofts looked like a great place.


I rent in Harsimus Cove. I walk around alone at all hours, and I think that most of downtown Jersey City east of Jersey Avenue is pretty safe.

My guess is that the shabbier parts of the Jersey City Heights are the parts of the city that are reasonably safe and have a good chance of going up a lot in value. Many of the streets there are gorgeous, the air is cleaner there than in other parts of the city, and the light rail is just starting to make it more convenient.

Downtown, it seems to me that the most vulnerable condos are the ones in new, ugly, poorly insulated buildings.

If the condo you're buying is in a well-insulated building, maybe it would hold its value. It would appeal to people who already like brownstones, and it would appeal to highrise people who start panicking about their energy bills.

I wouldn't buy in any of the new condos around here unless they're actually built and you can check on the energy bills, or you know someone who can evaluate the insulation.

Posted on: 2006/3/3 2:48
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Re: schroeder lofts - hamilton park
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To clarify my calling downtown an "inner city" neighborhood. The population density, the types of housing available, the availability and dependence on mass transit and the diversity of the population - ethnic, economic, age, etc. are the variables I think define downtown as an inner city neighborhood. This is hardly a ghetto.

People are spending enormous amounts of money to live here - complete guts of houses bought for 500+K are going on everywhere. The census tract that includes Newport was the second wealthiest in the state. A golden ghetto, perhaps.

As far as gang activity, I only know about it from what others have posted on JCList. I have lived downtown almost continuously for 25 years. I didn't feel unsafe when I moved here and I don't feel unsafe now. The two biggest changes are the improved shopping and restaurants and the decrease in broken glass on the sidewalk. The latter change has to do with the beverage industry switching to plastic and nothing to do with improved city services which come to think of it are of ghetto quality.

Posted on: 2006/3/3 2:30
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Re: schroeder lofts - hamilton park
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I have to agree with jc_insomniac
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jc_insomniac wrote:
Why does it feel like we just got bamboozled by a couple of realtors? Hmmmm?

Posted on: 2006/3/3 1:11
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Re: schroeder lofts - hamilton park
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elgoodo wrote:
I hear people singing numbers from West Side Story outside my apartment every night.


Those jets. Sheesh!

Posted on: 2006/3/3 0:19
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Re: schroeder lofts - hamilton park
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valkin wrote:

I have not noticed gang activity in Hamilton Park. I have lived in Hamilton Park for 7 years and one block away in Harsimus Cove for a year. I felt safe in Hamilton Park. I think Paulus Hook has nice brownstones but is much more deserted at night.


I hear people singing numbers from West Side Story outside my apartment every night.

Posted on: 2006/3/2 19:11
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Re: schroeder lofts - hamilton park
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koalahugs77 wrote:
wow. gang activity. i guess the close surrounding areas are a host for bad things?... i thought hamilton park looked so safe. :(

oh boy. so, let me ask this question... as a local... which area would is the 'best' in jc? i know, i know.. very general, but i need to figure out what areas to avoid. i am reading that paulus hook is nice? and everyone wants to get into pad? is hamilton park included in "newport" area?

does anyone have any input about schroeder lofts in particular and what details about the st.francis hospital site changing to condos?? will it make hamilton park much more desireable?

i know... so many questions. but, i thank you in advance for your help. and hopefully, i can live there and become a local, too!


I have not noticed gang activity in Hamilton Park. I have lived in Hamilton Park for 7 years and one block away in Harsimus Cove for a year. I felt safe in Hamilton Park. I think Paulus Hook has nice brownstones but is much more deserted at night.

Posted on: 2006/3/2 18:56
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Re: schroeder lofts - hamilton park
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wow. gang activity. i guess the close surrounding areas are a host for bad things?... i thought hamilton park looked so safe. :(

oh boy. so, let me ask this question... as a local... which area would is the 'best' in jc? i know, i know.. very general, but i need to figure out what areas to avoid. i am reading that paulus hook is nice? and everyone wants to get into pad? is hamilton park included in "newport" area?

does anyone have any input about schroeder lofts in particular and what details about the st.francis hospital site changing to condos?? will it make hamilton park much more desireable?

i know... so many questions. but, i thank you in advance for your help. and hopefully, i can live there and become a local, too!

Posted on: 2006/3/2 18:03
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Re: schroeder lofts - hamilton park
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I may be wrong, but I think what alansommerman's getting at is the fact that downtown JC, for all its good points, is host to a disturbing amount of gang activity.

You seem to want to live in a nice area AND have a good investment property. The unfortunate reality is, you'll have to make a choice--you can have one or the other, but you're unlikely to get both. As others have pointed out, there will be a lot of condos coming on the market in the next few years and the real estate market downtown has probably plateaued for a while.

Posted on: 2006/3/2 17:28
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Re: schroeder lofts - hamilton park
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also, .... alansommerman... what do you mean by inner city area?

that it is ghetto? or will never develop like other areas? i'm not sure what you are trying to tell me. lower cost of living? not sure if i get the bigger picture you are giving me.

Posted on: 2006/3/2 16:53
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Re: schroeder lofts - hamilton park
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Bamboozled eh? Heh heh, maybe I should change careers.

Something I particularly like about Hamilton Park as opposed to other condo developments (and is probably true for the other historic areas), is the character of the properties. Old school charm, (and in some renovated cases) mixed with new world amenities. I can't imagine having that in a high rise condo (and is why I don't feel threatened by them - though maybe I should). Of course, higher ceilings, tree lined block, and getting more sq. feet for your dollar is nice too.

Posted on: 2006/3/2 14:26
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Re: schroeder lofts - hamilton park
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I'm in a pretty good position to comment about 1 of the developers of this project (silveman bros. - I own a condo in the Majestic theatre condos they built). They have a great and well earned reputation here in JC for building quality buildings - and they generally offer a much better value then a lot of the other buildings going up in JC (vs. buildings that just seemed cookie cutter and slapped together).

They also were very responsive to any issues after I moved into my condo (i.e minor flaws in my unit that werent discovered till after I moved in) - these were always quickly resolved to my satisfaction. Really cant say enough on how how well they treated me as a buyer (and still do - 2 years later).

As far as finishing the building OT and meeting the projected closing date - It was only about 2 months more then what I was planning for (wich is not bad at all for new construction - and that was mostly attributed to more snow that winter then usual).

Hope this is helpful to you in deciding.




Posted on: 2006/3/2 14:11
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Re: schroeder lofts - hamilton park
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thanks for all your input. i would appreciate if there are any more ppl that could give me some advice, too!

i'm still not sure what to do. i don't know if i am having "first time buyers" cold feet or if i am just investing in the wrong property. my family members are telling me to go for trump, but i feel like for the money i will be getting such a small space. do you think trump is overall more worth it?

i do know that i would have to keep this property for over 5 yrs. and i do want to live comfortably (ie, not too tight space, safe, and mental security that i will make some money off of the condo... right now, it's just me! no spouse, nuthin.) w/in that time period.

i looked at the powerhouse area and it seemed very run down despite my knowledge that it is supposed to grow. i was surprised that 140 bay st lofts were so pricey esp w/ floors that weren't even straight, etc... granted it's a refurbished factory.

ack! i am just very confused and anxiety ridden... any and all advice would help greatly!

ps - i had put down the deposit for schroeder loft and i am in attorney review process. granted, i can back out of the agreement since it is early, but i have til monday to figure this thing out for sure.

Posted on: 2006/3/2 13:39
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Re: schroeder lofts - hamilton park
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Hamilton Park is fine as are the other three historic districts , but you are in an inner city area. As far as investment return - literally 1000s of condos will be coming onto the marketin the next few years - I would be concerned about oversupply and quickly selling if I had to.

Posted on: 2006/3/2 11:46
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Re: schroeder lofts - hamilton park
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Why does it feel like we just got bamboozled by a couple of realtors? Hmmmm?

Posted on: 2006/3/2 5:24
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Re: schroeder lofts - hamilton park
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I was in a similar situation as you (though slightly lower budget) 6 mo.s ago. I searched all of NYC (and some Jersey too) I could afford and stumbled on this area. The quality of some places here comparatively is awesome. The PATH goes right to where I work for a new job in Manhattan so it's perfect.

I can only hope that this area has good potential for growth ($), but I like many elements of what it is now too. I have a friend who grew up 1 block from my condo who I worked with in Mahwah for a couple years. He remarked how it's improved (and yet the store on his corner's still there) and he's a good guy too so that's encouraging. No shady run-ins for me yet (but somebody did steal a guitar from me when I left it in the basement unlocked but that's a different story). Hard Grove rocks and I like Basic too.

I just sold my Honda last week (literally), but in the 3 mo.'s I been here nobody messed with it (except the parking police). A club and leaving nothing in the car has always done the trick.

BTW, I dunno the schroeder lofts, maybe I should be in a different string?


Posted on: 2006/3/2 4:39
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Re: schroeder lofts - hamilton park
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Quote:

koalahugs77 wrote:
Can you recommend better places esp in terms of making some $ by selling out w/in 5-10 yrs?


If you are a speculator and want a higher (expected) return on your investment, you should buy in Bergen-Lafayette or one of the "less desirable" or more up-and-coming areas in JC. Of course, I stress "less desirable" because these areas are generally not as safe or "desirable" as some of the areas in downtown. Also, downtown properties are already selling at a premium.

Quote:

koalahugs77 wrote:
Is Hamilton Park really a good neighborhood? I hear ppl often get their cars jacked at Newport Mall... is there truth to this?


HP is beautiful and is generally safe, but nothing is 100% safe - in JC or elsewhere. You should do a search for "crime" on this site. Not to scare you, but there was a very recent break-in at a ground-floor apt in the HP area wherein the female resident was robbed and raped.

Also, this crime map on Councilman Fulop's site should give you an idea on some recent crimes:
http://freality.org/maps/


Posted on: 2006/3/2 3:36
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schroeder lofts - hamilton park
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I am looking to buy (first time!) in JC and my budget allows me to go up to 415k. I am looking for a 1 bedroom and I thought Schroeder Lofts looked like a great place. I don't know Hamilton Park area that well... but it seems quaint and homey. I hear that they are going to build more condos where St.Francis Hospital is located.

Do you think this is a good area to invest? Can you recommend better places esp in terms of making some $ by selling out w/in 5-10 yrs?

I noticed that I can get more space here... 922 sq ft for 415k 1bed on 3rd fl.

Is Hamilton Park really a good neighborhood? I hear ppl often get their cars jacked at Newport Mall... is there truth to this?

I drive to work in Wayne NJ, but I would like to have super easy access to PATH or bus into the city.

I am 28 yr old female... that wants to make the RIGHT decision. HELP! Thanks!

Posted on: 2006/3/2 1:00
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