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Re: The Beacon
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Home away from home
 
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And don't forget the volleyball/badminton net! On a slope! FUN!
Posted on: 2009/6/23 15:43
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Re: The Beacon
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Home away from home
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Separate the ones on your list with slashes as they are separate amenities in separate rooms and add: -Great lawn -Sundeck -Grills -Treatment rooms -Four roof top patios -Steam rooms -Reading room -Dining room/kitchen for events ? I think that is the rest of the amenities included in the maintenance
Posted on: 2009/6/23 15:31
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Re: The Beacon
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Not too shy to talk
 
Joined:
2006/10/31 20:04 Last Login : 2015/9/9 20:58 From Jersey City
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There is another open house at the Beacon on Wednesday of this week expressly for the people who couldn't make it on the weekends. Go to TheBeaconJC.com for more information or call (212) 213-9770. Expect to pay a $20 auction fee.
Posted on: 2009/6/23 14:31
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Re: The Beacon
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Not too shy to talk
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Does anyone have an update as to the interest in the auction this Saturday? I am very interested, but never made it over to even look.
Posted on: 2009/6/23 14:04
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Re: The Beacon
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Home away from home
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altessa's area is only 'shitty' if you compare it to downtown. it's better than the surrounding area of the beacon IMO. and lack of transportation? you mean besides being a block away from direct buses to NYC 42nd st, free shuttles to hoboken PATH, and a 2 minute drive to 495 / rt 3 ? i for one think the altessa is actually priced very reasonably. 270K for a moderately sized 1 BR + den isn't preposterous like the 350K+ asked by alot of the jc condos. the downside to the altessa is that the den is tiny (just a small office space), and the bedroom is almost just as tiny. they should have opened it up and made into a normal sized 1 BR instead.
Posted on: 2009/6/23 14:03
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Re: The Beacon
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The buildings are beautiful... the amenities are top notch...I'm sure the building residents are classy, good people. But the area.. my god, the area. It is a pure and utter sh!thole. There is NO way to sugar coat it. I looked at Condos at the Beacon, and across the street at M650, and would LOVE to live in a condo building like that, but not where they are currently located.
Like wibbit said, and I'm glad I had the foresight to listen, drive around the area at night. Don't walk, because you will have trouble. It is NOT a place you would want to live, amenities be damned.
Posted on: 2009/6/23 13:52
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Re: The Beacon
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They would be lucky to be a repeat of The Beacon but they can't. We are an historically preserved building with more amenities than any other building I have seen. AND our transportation is easy. We walk out the front door and get in the shuttle.
Posted on: 2009/6/23 13:49
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Re: The Beacon
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the 1BRs were listed at 225k for a long time with no buyer, so they will probably be auctioned off around 180-200k is my guess.
Not that it's your business but since you are making so many assumptions about me. I sold at 07 right after bear stern's fund blew up, as it was pretty clear sht is about the hit the fan. been renting ever since, i am actually looking to buy now 1 for primary 1 as investment, mainly due to the low rates, now is the time to leverage up when everyone is leverage down. Fully expect to take another 10% loss to a 5 yr flat market, but the rates are just too good and wont stay like this for long as evident by the last 2 weeks. of course wont be buying at the beacon, there will always be people who dont understand location is everything. There are people buying into altessa in union city now blinded by the luxury bells/whistles while ignoring the shtty area with no transportation. It's will be a repeat of the beacon, unless market significantly improve.
Posted on: 2009/6/23 4:19
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Re: The Beacon
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Newbie
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wibbit,
You seem convinced that there will be a single bid for each unit at 150,000. It will be interesting to see your reaction on June 28. I expect my new neighbors to get good deals here at the Beacon at the auction; I'll be envious, yet happy for them. - Envious, because I like many people, did buy near the height of the real estate bubble, and there are now many deals and even some steals to be had. - Happy, because inventory will significantly reduced from Metrovest, and clears the path for as close to normal owner to owner resale as possible in this reset housing economy. You've clearly identified yourself with an agenda against the Beacon. Who knows why, perhaps even you don't, and you're pattern is one to ignore anything relevant and go right for something salacious or even off topic. Don't worry, you have company with jmcee. I also expect some pithy response from either or both of you. If you own, you're likely not doing any better than me, and it's quite possible that we will be below water together for a couple more years. Just look at this: http://www.businessinsider.com/chart- ... ing-bust-vs-japans-2009-6 If you own, you should be wishing us the best of luck in the auction, so that all our property values rise together. My guess is that you are like jmcee, and don't own. Lower home values equals cheaper rents, more appetizing to renters.... and also more short sighted. wibbit, Don't be myopic.
Posted on: 2009/6/23 3:19
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Re: The Beacon
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 oh mrwolf, lets please not start again. The initial discussion ended when the condo was still trying to sell at 350k and you telling everyone how wrong i was for believing this is such a bad investment and also dissed my lack of urban planning expertise. Now those same units are on the auction block at 150k, why do you must continue this self-torture....
Posted on: 2009/6/23 1:51
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Re: The Beacon
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Just can't stay away
 
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At least .... now? The position has never changed. You really must have me confused.
Let me save you the next hour reviewing this thread and tell you that such a comment from me does not exist. Again, so we're clear, I never equated my neighborhood to downtown. Their different by nature. However, that doesn't mean that I'll accept someone's very negative commentary regarding a neighborhood that they themselves won't explore outside their own car. How could you possibly know how the neighborhood operates? Exactly, you have no idea. I've lived here for two years and have had no issues. Can that change tomorrow? Sure, as quickly as a person can be held at gun point in Paulus Hook. It's Jersey City, sh*t happens. Next time, maybe you might want to ask yourself who's being honest.
Posted on: 2009/6/22 22:04
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Re: The Beacon
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at least you are being more honest about the area now, no more "it's same as downtown" bs. good luck with the auction.
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Posted on: 2009/6/22 20:31
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Re: The Beacon
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Just can't stay away
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Mr. Wolf, as a long term resident, I thank you.
Posted on: 2009/6/22 20:21
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Re: The Beacon
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Just can't stay away
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As far as your comment goes, I only started having an issue with you when you made very nasty remarks about the neighborhood, especially its long-term residents. As for the area, it is what it is, and if someone is looking for a Newport type neighborhood, then the complex may not be for them. I don't think there is anyone on this board that has sugarcoated that fact. Your "flat out lie" comment was disingenuous and again suggestive of some hidden agenda. I live here just fine and so do a number of my friends/neighbors. Actually, almost all of the people that I know here are happy to own in the complex. You can have any opinion about the neighborhood that you'd like, but you still won't change that fact. Again, it is, what it is.
Posted on: 2009/6/22 19:47
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Re: The Beacon
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Just can't stay away
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That's essentially what is driving cost. Further, the mere size of the two buildings and its common spaces, while very nice, are more expansive than other similar complexes and cost more money to maintain. So, there's give and take. Conversely, it should be noted that there is some comparative offset which occurs from the abatement perspective, given that the tax liability for a unit in the Beacon will be based on a lower rate (compared to a like unit in another development). If you use the 1% vs 1.6% approximate abatment rate standards, this amount can be significant, especially when the Beacon annual pilot is computed on a lower purchase price, apples to apples.
Posted on: 2009/6/22 18:51
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Re: The Beacon
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Home away from home
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Despite their location, their amenities are probably some of the best in jersey city: -Doorman -Fitness Center -Yoga Room -Indoor Pool -Jacuzzi/Sauna -Kids playroom -Billiard Room/Poker Room -Movie Room/Theater -Dog Run -Shuttle Service to the Path And if I'm not mistaken (i'm sure someone on this thread will be quick to correct me!) i think their maintenance fees cover Cable or high speed internet, or something else... The fees seem comparable to other "luxury" buildings in the area. Basically the amenities have to be there, or else why not move to a newer building that's closer to the path?
Posted on: 2009/6/22 17:49
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Re: The Beacon
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I don't trust any management and I am sure they are all ripping us off---however---I lived in The Galaxy Towers in Guttenberg which has some of the same amenities as here at The Beacon but all kind of old and faded, except for the pools. The maintenance for our one bedroom one and a half bath was $800.00 when we left five years ago so it must be $1,000.00 now. I moved into a big townhouse in Secaucus in Harmon Cove after that and the maintenance was only $500.00 which included two covered parking spots but the only amenity they had was an outdoor pool open three months. So all considered it works out about even.
Posted on: 2009/6/22 17:16
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Re: New York Times: Beacon Luxury Condos, All Bids Considered
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Home away from home
Joined:
2006/6/13 17:16 Last Login : 2017/2/3 3:59 From Hamilton Park
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540
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Until recently I was renting one of the apartments Metrovest is selling. Fortunately, I moved out the day before the open houses began. I stopped by to clean up on the first day of the open house and the parade of people coming in would have driven me crazy for 1 day, let alone 8.
I can't imagine what the earlier poster complaining about a lack of "class" could be talking about. The building is friendly and professional. Perhaps he enjoys pretension? That you won't find at the Beacon. Perhaps he wants a less diverse group of neighbors? I liked the mix. I suspect the auction prices will be quite a bit higher than some people expect--close to Metrovest's current asking prices. The developer described an auction for another Hudson County development he went to check out before going ahead with the auction and there were 1,000 bidders there and all units available sold. The presence of so many bidders will generate the confidence people need to bid. BTW, the way the auction works is that all apartments are bid on in groups--all two-bedrooms together, for example. The high bidder gets to select his choice of two-bedroom unit from the list and the auction starts over again for the next choice from the list. There is a limit of one apartment per buyer and they expect most to be sold to people who intend to live there. The 12 apartments sold without reserve are the first twelve to sell, which will be the most desirable units. After that, the developer can stop the auction at any time. Incidentally, although he is advertising 25 units, he hopes to sell significantly more.
Posted on: 2009/6/22 1:50
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Re: The Beacon
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Not too shy to talk
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I did a monthly carrying cost analysis on a 2 bedroom, it seems like it cost about the same to live at Beacon at $250,000 with 1100 HOA vs $400,000 with 250 to 400 HOA elsewhere. Does this even make sense to anyone. Why are their HOA fees so high for whatever they provide. It almost feels like someone is pocketing the money somewhere.
Posted on: 2009/6/21 22:47
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Re: The Beacon
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jocjo,
What is the data on the smallest, cheapest, lowest 1 bedroom that you have listed? (I wonder whether that 795 square feet is REAL square footage or DEVELOPER/LANDLORD square footage....they usually differ by 15%.) Do you think that the 1% in lieu payments are bassed on the "list price" or the actual sale price? If the latter there will be a HUGE discrepancy in taxes on like units. TIA Is anybody going up there today on this last day for viewing? Does anyone think the developer would let one go absolute for $125,000 or is there some "escape asterisk." 
Posted on: 2009/6/21 14:00
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Re: The Beacon
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Home away from home
Joined:
2006/11/13 18:42 Last Login : 2022/2/28 7:31 From 280 Grove Street
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Anyone tried to sell their own apartment ? What was the loss / profit from the investment ?
I always thought the golden rule to buying property was LOCATION< LOCATION> LOCATION. Its pointless to have the best house in the worst block !
Posted on: 2009/6/19 21:50
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My humor is for the silent blue collar majority - If my posts offend, slander or you deem inappropriate and seek deletion, contact the webmaster for jurisdiction.
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Re: The Beacon
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Quite a regular
 
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Just wanted to clear up some of my earlier mis-information.
Here are details on one of the actual units up for auction as provided by the Beacon auction folks. 1 Bd/1 Ba Sqaure Feet: 795 Listing Price: $425,000 Suggested Opening Bid: $150,000 Certified Check Required: $15,000 Monthly Maintenance: $667 (includes utilities) Views to the East and the NYC Skyline on one of the highest floors. Unit is currently rented at $2,000/month I hope that helps. I now have all the details on available units with me in case there are any other requests...
Posted on: 2009/6/19 18:07
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Re: The Beacon
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i was just basing the numbers are what this poster said. If it's 600ish then it's more reasonable if air/heat is included. as for 77hudson/crystal point, they are listed for each unit, just goto the sales office and ask. It will be interesting to see what prices they fetch, but i think the ballpark is around 200k or lower, because there are a couple 1 br listed with liberty realty at 225k for months and no buyer. So the true market price has to be lower than that asking price.
Posted on: 2009/6/18 20:30
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Re: The Beacon
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The new live/work lofts at the Mercury building are priced from just under a million to over 2 million. That sounds like a real winner in this economy. If you can't sell condos for 300K try selling them for a million. How long until they hit the auction block? LOCO!!!!!
Posted on: 2009/6/18 20:01
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Re: The Beacon
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Just can't stay away
Joined:
2004/12/12 23:31 Last Login : 2015/12/3 0:37 From Paulus Hook
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Ahh, more Beacon porn. I have a one bedroom and pay less than $300 in PH. My "amenities," however, extend beyond the wall of my building. 
Posted on: 2009/6/18 19:46
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Re: The Beacon
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Home away from home
Joined:
2006/11/8 20:49 Last Login : 2022/4/26 19:42 From Chilltown, NJ
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Condos' auction prices are three times lower
Thursday, June 18, 2009 By TOM SHORTELL JOURNAL STAFF WRITER A batch of luxury condominiums in Jersey City will go on the auction block this month, as the developer struggles to sell units in this faltering economy. Metrovest Equities, the developer of The Beacon, will put 25 one- and two-bedroom condos for the complex's Rialto-Capitol buildings up for auction June 27. The suggested bidding range is $120,000 to $250,000, said George Filopoulos, Metrovest president. The units were originally $380,000 to $700,000, according to a press release. Even though there's a suggested range, Filopoulos said Metrovest will accept whatever it gets, with 12 of the units in an "absolute auction." The company might set minimums after the first 12 units are sold, he said. Filopoulos, who said consultants convinced him to put the units up for bid, isn't sure what to expect from the open auction. But he said not setting a bidding floor for the 12 units is "a good way to get participation." The goal is to sell the last 315 units at the Rialto-Capitol so the next phase of renovations move forward, he said. As much as 90 percent of the condos were sold before renovations at the Rialto-Capitol were completed in 2007, but about half of the buyers backed out, mostly due to problems securing financing, Filopoulos said. The sale of the last 25 condominiums will allow Metrovest to focus its sales efforts on The Mercury, which will have up to 25 luxury lofts in a 17-story building. Those live/work units will be between 3,000 and 6,000 square feet. The auction will be held at the Hyatt Regency on Exchange Place. Registration begins at 11 a.m., with the auction starting at noon.
Posted on: 2009/6/18 18:45
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Re: The Beacon
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I have a one bedroom and pay less than $600 And NO OTHER BUILDING has the amenities we have. It is amazing here.
Posted on: 2009/6/18 18:41
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Re: The Beacon
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Newbie
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Hey Wibbit, maintenance numbers are based on square footage. So these numbers may be misleading. Is the 500 dollar maintenance fee on a 1br apt at 77 hudson vs. a 2br apartment at the Beacon. That is the only way you can compare apples to apples. When I looked at apartments on the water front it appeared the maintenance on those units are higher that those you are stating, what is the source of your information as I am still looking at apartments and would like to know. Also, what year are those figures based on?
Also, the maintenance for the beacon includes the hot/cold air pumped into your apartment which essentially lowers your heating/cooling bill.
Posted on: 2009/6/18 12:01
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Re: The Beacon
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i think the monthly fee includes most of the utilities as well
Posted on: 2009/6/18 3:24
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Re: The Beacon
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does anyone know why the monthly fee is so high? $800 is more than some of the best luxury high rises in jc.
for example 1br at 77hudson and crystal point are both <$500 and that includes all the amenities. Is it because of a crazy condo associate or what?
Posted on: 2009/6/18 2:42
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