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Re: Fields Development Reports Waldo Lofts Now 90% Sold in Jersey City's Powerhouse Arts District
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I looked at some of the pricier units in the building that are still for sale (the smaller one and two bedrooms sold out). The problem is they were loft set-ups- really huge spaces but not really good for more than one or two people (unless they add walls) and the view was over the back of Shoprite. The asking price for some of these was around $2m. For that neighborhood in the current condition, no thanks.

Posted on: 2008/7/9 13:59
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Re: Fields Development Reports Waldo Lofts Now 90% Sold in Jersey City's Powerhouse Arts District
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I went to an open house at Waldo Lofts over a year ago, before the building was occupied. I think the outside architecture is nice, but that's where it ends. I found the fixtures and interior construction to be sub-par. The biggest draw back for me was that you come out of the front door to face the loading docks at Shop Rite. I am not surprised that they can't sell out the building.

Posted on: 2008/7/9 13:56
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Re: Fields Development Reports Waldo Lofts Now 90% Sold in Jersey City's Powerhouse Arts District
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Quote:
the developer is trying to get approval for a taller building

I wonder how much Councilman Gaughan will charge for that....

Posted on: 2008/7/9 13:54
"Someday a book will be written on how this city can be broke in the midst of all this development." ---Brewster
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Re: Fields Development Reports Waldo Lofts Now 90% Sold in Jersey City's Powerhouse Arts District
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This just proves how bad the RE market is - this building has been marketed for nearly two years and it is still not sold out. Things probably won't get better any time soon as new units from Liberty Harbor, Trump, Inside A, etc., etc. are coming on the market and new developments in the area will be starting soon. Also, potential buyers at WALDO should be aware of a new development that is scheduled to start contruction this summer and is located on the south side of WALDO Lofts. The project was originally designed as a 10 story bldg. but there is some talk that the developer is trying to get approval for a taller building - either way, the south-facing units will likely have their views/sunlight blocked in the not too distant future.

Posted on: 2008/7/9 13:30
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Re: Fields Development Reports Waldo Lofts Now 90% Sold in Jersey City's Powerhouse Arts District
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Correction to the above post, the $15K closing cost is not an unit that is unsold by the Developer, but rather it is a current owner occupied re-sale unit.

Posted on: 2008/7/8 19:58
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Re: Fields Development Reports Waldo Lofts Now 90% Sold in Jersey City's Powerhouse Arts District
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Quote:

scooter wrote:
10% still unsold???

They better get over to the next City Council meeting and buy themselves a sweeter abatement...


That "10% unsold" is probably no longer accurate as the original post was written in January. Of course, there's only 82 units in the building, so in other words, 8 units were left at the beginning of the year.

Obviously the fact they're giving $15k for closing costs would indicate they aren't flying off the shelves, but i would imagine they've found 1 or 2 buyers in the last few months. Of course given the current state of the housing market that could be an overly optimistic assumption.

What is the pricetag on those penthouses? My guess is that the problems in the jumbo mortgage market are certainly not helping them sell those units...

Posted on: 2008/7/8 18:28
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Re: Fields Development Reports Waldo Lofts Now 90% Sold in Jersey City's Powerhouse Arts District
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It seems the 10% unsold are all the expensive penthouse units though....

Posted on: 2008/7/8 17:46
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Re: Fields Development Reports Waldo Lofts Now 90% Sold in Jersey City's Powerhouse Arts District
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10% still unsold???

They better get over to the next City Council meeting and buy themselves a sweeter abatement...

Posted on: 2008/7/8 16:56
"Someday a book will be written on how this city can be broke in the midst of all this development." ---Brewster
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Re: Fields Development Reports Waldo Lofts Now 90% Sold in Jersey City's Powerhouse Arts District
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I recently visited an Open House at Waldo Lofts, for a resale (guess owner was leaving). I did a write-up of my thoughts on the place at my blog, if anybody is interested in reading.

Posted on: 2008/7/8 16:40
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Re: Fields Development Reports Waldo Lofts Now 90% Sold in Jersey City's Powerhouse Arts District
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There must be some ridiculous incentives there for them to have sold 90%, because there are a few units on realtor.com for resale that are about $50k to $100k less than what they wanted when i went for an "open house" (i.e. the open house that they have every weekend).

Posted on: 2008/1/30 3:24
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Re: Fields Development Reports Waldo Lofts Now 90% Sold in Jersey City's Powerhouse Arts District
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Quote:

It did have good views,.


Not for long.

Posted on: 2008/1/30 1:52
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Re: Fields Development Reports Waldo Lofts Now 90% Sold in Jersey City's Powerhouse Arts District
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I looked at some units there. For the prices they wanted, the fixtures and appliances were terrible, there were random outlet covers in the middle of some of the main walls, the thermostats were put wherever they felt like it, taking up space where artwork should go, and the layouts were some of the most horrible I've come across. For example, I was looking at one of the penthouse duplexes. The upper portion was wide open... and it had 2 bathrooms. I guess you are supposed to put two bedrooms up there or something, but you would have to use dividers, or build walls. It made no sense. Then the downstairs bedrooms were tiny. For $1.5+ million the unit was a joke. It did have good views, but the layout, appliances and quality of workmanship were the worst I've seen at that price point.

Posted on: 2008/1/29 22:13
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Re: Fields Development Reports Waldo Lofts Now 90% Sold in Jersey City's Powerhouse Arts District
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While this article does make me want to see the inside of this building, I still think it is hands-down the ugliest new building to go up.

Sorry, had to say it!

Posted on: 2008/1/29 21:43
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Fields Development Reports Waldo Lofts Now 90% Sold in Jersey City's Powerhouse Arts District
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Fields Development Reports Waldo Lofts Now 90% Sold in Jersey City's Powerhouse Arts District

Fields Development Group is reporting Waldo Lofts in the heart of Jersey City's Powerhouse Arts District has reached the impressive milestone of 90% sold. Some of the finest housing opportunities remain at 12-story loft-inspired condominium building in Hudson County.

Jersey City, NJ (PRWEB) January 24, 2008 -- Fields Development Group is reporting Waldo Lofts in the heart of Jersey City's Powerhouse Arts District has reached the impressive milestone of 90% sold.

And they receive all this in a state-of-the-art building with elevator access, available parking and a fitness center.
Even with the award winning building on the verge of a sell-out, some of Hudson County's finest new homes remain, including unique "Brownstones in the Sky." Similar to classic brownstone residences found in Brooklyn and Tribeca, these incredible two-story residences feature stylish, well designed floorplans with open spaces and floor-to-ceiling windows. Some of the homes also boast panoramic views of the downtown Jersey City and Manhattan skylines.

"This is a special opportunity to purchase a home that combines the open floorplans and flowing interior spaces comparable to brownstone-style residences and the convenience and amenities of a modern building," says James Caulfield, Jr., a Fields principal.

"The homes are ideal for those looking for the elegance and grace of a Brooklyn or Tribeca home at a much more reasonable price and are the perfect fit for young couples and growing families who want to enjoy an upscale urban living in a historically-rich and cultural location, but don't want to sacrifice the space.

"And they receive all this in a state-of-the-art building with elevator access, available parking and a fitness center."

With homeownership starting in the upper $400's, Waldo Lofts features a wide variety of condominium residences boasting from 900 to more than 2,600 square feet of living space. In addition to the "Brownstones in the Sky," the building offers spacious one- to four-bedroom loft and duplex style layouts -- some with dens.

Found throughout a number of the home designs are spacious living and dining areas, gourmet kitchens and master suites. Ceiling heights range from 10' to 20', while all of the homes feature a wide assortment of upscale finishes and appointments including Stainless Steel appliances, granite kitchen counter tops and marble tile bathrooms. Some of the residences also offer oversized private terraces.

Situated in the heart of the Arts District, the award winning Waldo Lofts building is significant in the transformation of an under-utilized section of the city into a vibrant, cultural neighborhood that boasts a variety of pedestrian activities and celebrates Jersey City's emerging arts community.

Once completed, the new arts district will link with Jersey City's vibrant Hudson River Waterfront to provide direct access to New York City's major business epicenters. Also planned for the district will be a variety of cultural and entertainment attractions, including theaters, fine restaurants and upscale shopping and boutiques.

The lobby/gallery at Waldo Lofts has played an important role in creating the artist-inspired environment envisioned for the building and district by hosting a series of exhibits displaying the works of local artists. To further enhance the arts-theme, Fields Development has purchased select works from local artists and placed them on display throughout the building.

In addition to its proximity within the arts district, Waldo Lofts is also just steps from a number of convenient transportation options, including the Hudson Bergen Light Rail, the Grove Street PATH Station and New York Waterway's Harborside Ferry Terminal.

For more information on Waldo Lofts, please call (201) 533-9500, or visit the website at www.waldolofts.com.

Contact:
George Cahn
CAHN Communications
201-876-3100

Posted on: 2008/1/24 14:35
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