Quote: Hey, that's one thing we can agree on for sure. It is definitely not 85% of the total project, but rather only 85% of the 440 units in the first tower. If they were 85% sold out of Tower 1 and Tower 2, Tower 2 would have already broken ground. My guess is they will control supply and wait for at least two years until they start building anything besides the foundation for the second tower.

Quote: Link doesn't work for those of us who don't subscribe to the WSJ Online... Either way it's he-said/she-said. The NYTimes piece was written by a journalist who routinely writes real-estate puff-pieces trying to pump up interest in these types of properties, so I doubt she has any incentive to make the numbers look worse than they actually are. As for the WSJ piece (which I haven't read) or the developer, they may have a vested interest in making sales look better than they actually are. I'm just sayin'... Maybe it's 85% of the tower (the one that's been built so far) which would mean <50% of the total project. Maybe they sold a bunch of units to some shell company LLC and got their numbers up - I have no idea. I'd take it all with more than a grain of salt though... (and as the other person just said... it's probably 85% of "phase 1" or or 100% of phase one and 85% of phase 2 and there might be like 4 phases or whatever. It's all about marketing!)

I think what they do is sometimes only put some units on the market. For example, maybe there are 1000 units...but they only put 500 on the market...so if they sell 250 units they would say 50% sold out....when really it is only 25% sold...

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*Disclaimer* I don't own at Trump, but your "this is incorrect" statement is incorrect. WSJ quotes 85% sold, and so does the sales office.

http://online.wsj.com/article/SB12240 ... 3.html?mod=googlenews_wsj

Frankly, it seems like a case of semantics, where NY times is claiming sold=closed. The sales office also quotes more than half the 440 units are closed, which, considering the closing process is underway, would explain why the NY times story had Trump at less than half "sold" a month ago.

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That is incorrect. About a month ago, this story was posted by GrovePath on another thread, but here is the link to the NY Times Story...

From the Story:
So far, said Dean Geibel of Metro Homes, the builder and partner with Trump Enterprises on the project, about 200 of the 440 units have sold ? with only ?a handful? of those who signed contracts unwilling or unable to close.

That story was from a month ago, given the credit crisis that has ensued, I would be absolutely shocked if they've sold 175 units in the last month (375/440 = 85%)...

Maybe you got your terminology mixed up, it appears *almost* 50% have SOLD and perhaps (although I don't know this) 85% of those have CLOSED. So they have a lot of wood to chop on this project.

To the original poster of this topic, there is an entire section of this website dedicated to "Real Estate" in which (last count) has 865 topics with over 12,000 posts on how the real estate market in JC is holding up...However, many of those threads are colored by people with various (Favorite?) axes to grind...

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The building is 50% closed and 85% sold according to both the seller and recent articles.

Hurried sellers? I think Jersey City is doing fine in this area as opposed to the rest of the country. Perhaps you would get a bit of a discount now but overall I think the real estate in Jersey City is doing just fine. I know I'm LOVING my year and a half old loft here at Schroeder! You should really think about purchasing now if you do not already own.

We are doing pretty good so far. JC real estate didn't shoot up as much as Brooklyn and the entry points are still pretty low to attract a lot of first time buyers.

Well, the real estate market nationwide and even worldwide is not in its best shape, but I'd say JC market is holding up pretty well in comparison.

this was a legitimate question. i would be curious to hear other people's thoughts. i could careless what realtors think because they are just hard sellers anyways. there's a time to listen to them and a time not too. sometimes, the best people to listen to are the residents.

Sometimes I wonder who drives these questions - Could it be realtors with too much time on their hands and an alternative way to drum up discussion on this topic. If it is, they should be concentrating on drumming up business on the otherside of the Hudson.

i read somewhere that trump was under 50% sold. when you go to hudson realty's website, though, it says that it is over 80% sold.

Does anyone know how JC real estate is holding up in this economy? Was seriously thinking about buying as I'm guessing there has to be some hurried sellers. Anyone know how projects like Trump, Canco, Liberty Harbor, Gull's Cover are holding up?