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Re: Crescent Court?
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OK, knew that sounded too good to be true.

Posted on: 2010/1/29 18:31
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As far as I know it's a 5-year abatement.

Posted on: 2010/1/29 18:24
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Crescent court has a 5 year abatement...

Posted on: 2010/1/29 18:24
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Quote:

BrightMoment wrote:
Quote:

lisamisa wrote:
Does anyone have any "new" insights into this condo? It does seem like a great bargain for comparable condos in downtown JC.

To buy or not to buy... what do you think?


In tonight's Tax Increase Protest at City Council, one of the speakers specifically drew attention to Crescent Court and how it typified the "30 year abatements" on taxes that most JC residents who own their condo/house saw increase 25 fto 30% with this quarter and last year's tax increase. One woman in Paulus Hook spoke about how she and her husband were facing a tax increase comparable to their mortgage and were contemplating just walking away from their condo due to tax increase. See the link here for the full NYT article: Walk Away From Your Mortgage!


Crescent Court has a 30 year abatement for residents? Please explain. Most condos downtown have 5 year abatements. Does Crescent Court really have 30? Crescent Court just became interesting.... Given the volatility of taxes in JC a 30 year guarentee would be compelling...

Posted on: 2010/1/29 18:18
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Re: Crescent Court?
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Quote:

lisamisa wrote:
Does anyone have any "new" insights into this condo? It does seem like a great bargain for comparable condos in downtown JC.

To buy or not to buy... what do you think?


In tonight's Tax Increase Protest at City Council, one of the speakers specifically drew attention to Crescent Court and how it typified the "30 year abatements" on taxes that most JC residents who own their condo/house saw increase 25 fto 30% with this quarter and last year's tax increase. One woman in Paulus Hook spoke about how she and her husband were facing a tax increase comparable to their mortgage and were contemplating just walking away from their condo due to tax increase. See the link here for the full NYT article: Walk Away From Your Mortgage!

Posted on: 2010/1/28 9:15
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Re: Crescent Court?
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Quote:

1stStGuy wrote:
I was the one who said there was nothing in the units. If they have started to build the interiors since I was last in there, then I'm wrong.

As for the concrete between the floors, have you actually seen it? I know they were advertising that, but when I was inside during the building stage, there was no concrete, and this was well past the time when there should have been.


Yeah granted it's not much, maybe an inch+, but it should be good enough to muffle out most of the everyday sounds there. You should def check the units out - the place is really coming along nicely and aside from the glaring lack of ammenities and slightly remote location, it's really not a bad deal. Hopefully resale won't be an issue...

Posted on: 2010/1/27 17:48
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Re: Crescent Court?
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Tino wrote:
I recently bought a unit here and just wanted to clear up a couple things.

First off - whoever said that there's nothing in the units is completely wrong. we were in a couple on the 1st floor (only about 5 units total on that floor) and just about everything was complete with the exception of bedroom carpet.

Second - soundproofing might be an issue, but the units do not have shared walls and the floors have concrete poured on them in addition to the typical floorboards. We turned on the HVAC in our unit and there was absolutely no noise from the closet in the bedroom, only the sound of the air coming out of the vents.

Third - the finishes we've seen have been as good, if not better than, the units we saw at Hamilton Park, the Saffron, blew away Grove Pointe, and comparable to Liberty Harbor. Definitely not IKEA grade

Estimated move in for us (2nd fl) is March, which definitely seems reasonable given the level of completion. Also, we were able to get FHA financing and there's a half-decent tax abatement. Overall not a bad deal - although that overpass is still quite the eyesore.

Sorry for the long post - it's been a while.


I was the one who said there was nothing in the units. If they have started to build the interiors since I was last in there, then I'm wrong.

As for the concrete between the floors, have you actually seen it? I know they were advertising that, but when I was inside during the building stage, there was no concrete, and this was well past the time when there should have been.

Posted on: 2010/1/27 17:16
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Re: Crescent Court?
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Any one worried about price/sft and long term tax implications with what's underway at city hall? How would you compare this project/location to the one on 369 5th street?

Posted on: 2010/1/27 16:46
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March is what is in our contract, so I'm taking it pretty seriously.

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srg1 wrote:
Are these the same promises from the sales office that said that they "had" to close by October 2009 because they "needed" to close the units for Hovnanian's fiscal year? If the sales office is saying March, then I would say April/May is more likely.

Posted on: 2010/1/27 16:44
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Re: Crescent Court?
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Are these the same promises from the sales office that said that they "had" to close by October 2009 because they "needed" to close the units for Hovnanian's fiscal year? If the sales office is saying March, then I would say April/May is more likely.

Posted on: 2010/1/27 16:41
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Re: Crescent Court?
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I recently bought a unit here and just wanted to clear up a couple things.

First off - whoever said that there's nothing in the units is completely wrong. we were in a couple on the 1st floor (only about 5 units total on that floor) and just about everything was complete with the exception of bedroom carpet.

Second - soundproofing might be an issue, but the units do not have shared walls and the floors have concrete poured on them in addition to the typical floorboards. We turned on the HVAC in our unit and there was absolutely no noise from the closet in the bedroom, only the sound of the air coming out of the vents.

Third - the finishes we've seen have been as good, if not better than, the units we saw at Hamilton Park, the Saffron, blew away Grove Pointe, and comparable to Liberty Harbor. Definitely not IKEA grade

Estimated move in for us (2nd fl) is March, which definitely seems reasonable given the level of completion. Also, we were able to get FHA financing and there's a half-decent tax abatement. Overall not a bad deal - although that overpass is still quite the eyesore.

Sorry for the long post - it's been a while.

Posted on: 2010/1/27 15:38
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Re: Crescent Court?
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lisamisa wrote:
1stStGuy, curious to know why do you think so lowly of the development and advise me to run?


I live a couple buildings away. The lady and I have been interested in buying a unit, so throughout the construction phase I have been walking through the area and the building to see how it's being constructed. The number one thing on my list was the distinct lack of soundproofing between floors and units. The layouts are nice, and I am sure they will be using higher-end appliances and countertops, but to me that doesn't attone for the noise issues and the corners that were cut during construction, such as lack of planning. The HVAC units are in a closet INSIDE the master bedrooms. Really?

It's disappoining because as I said earlier in this post, we were interested in buying into the building, and as I have said in earlier posts, it is a great addition to the neighborhood.

Posted on: 2010/1/27 14:16
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Re: Crescent Court?
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Then, as usual, the sales office is providing conflicting information. They will tell prospective buyers that completion is in the offing to induce folks to buy. Take what they're telling you with a grain of salt. That's news to me: that move-in date for the FIRST THREE FLOORS will be in February. As far as I know, only about three units are fully completed on the first floor, and it's already the last week of January. Other units are in various stages, but not to the point of being in move-in condition. Also, even if units are completed people can't move in until the hallways and lobby are fully completed and carpeted; and the elevators are fully operational. And certainly the parking garage is not close to being ready with all the materials and supplies being stored there.

Posted on: 2010/1/27 14:11
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Re: Crescent Court?
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jc38wayne,

How did you find out about the contracts that are falling through? The sales guy claimed only 18 of the 50-some units are left and the completion/move-in date for the first 3 floors should be in Feb, while the 4th floor would be done by end of April... Is he just talking out of his rear end? Is it really that bad??

Posted on: 2010/1/27 2:43
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Re: Crescent Court?
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1stStGuy, curious to know why do you think so lowly of the development and advise me to run?

Posted on: 2010/1/27 2:40
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Re: Crescent Court?
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1stStGuy wrote:

Just out of curiosity, how much opium had you smoked?

How did you see cabinets and fixtures and appliances in the units? Were the dancing hippos and flying polar bears talking to you? The units aren't finished, only that showroom on Newark, and I wouldn't call Ikea knock off sh1t "high end".

They can have top of the line everything as far as finishes, it will still never make up for the shoddy construction and lack of soundproofing. You will be able to hear your neighbors down the hall fart.


Well now 1stStGuy. Seems your info is a bit stale. There are models in the complex that are completed. I SAW THEM.
No I wasn't smoking opium. You have no idea what you are talking about. Would love to know what your place looks like. Maybe you live in hi end luxury ......but I think not based on the immaturity of your observations and childish comments.
Maybe you are sucking on the crack-pipe.

Posted on: 2010/1/26 17:18
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Re: Crescent Court?
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There are plenty of completed units for you to see and get a feel for the bldg beyond the showroom. I wouldn't say they are high end but they look high end...they're not ikea either though...sound proofing actually seems OK...big concern i have as a potential buyer is the completion dates, still plenty of units remain unsold and a few units are falling out of contract...

Posted on: 2010/1/26 16:28
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Re: Crescent Court?
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ogden1 wrote:
Saw the units and think they are top notch. Hi end cabinets, fixtures and appliances. Big space for great prices that include garage parking. Bathrooms huge with really nice tile. Full size washer/dryer in every unit. Seems solid to me. Can't speak to the time to market issues and understand that a few buyers backed out due to timing constraints. I dunno seemed much nicer and better made than a lot of stuff on the waterfront.


Just out of curiosity, how much opium had you smoked?

How did you see cabinets and fixtures and appliances in the units? Were the dancing hippos and flying polar bears talking to you? The units aren't finished, only that showroom on Newark, and I wouldn't call Ikea knock off sh1t "high end".

They can have top of the line everything as far as finishes, it will still never make up for the shoddy construction and lack of soundproofing. You will be able to hear your neighbors down the hall fart.

Posted on: 2010/1/26 15:25
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Re: Crescent Court?
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This development is chronically plagued with delays. While the exterior is almost complete, the interior is a long way from completion. No closing dates have been scheduled to date.

Posted on: 2010/1/26 14:32
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Re: Crescent Court?
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Saw the units and think they are top notch. Hi end cabinets, fixtures and appliances. Big space for great prices that include garage parking. Bathrooms huge with really nice tile. Full size washer/dryer in every unit. Seems solid to me. Can't speak to the time to market issues and understand that a few buyers backed out due to timing constraints. I dunno seemed much nicer and better made than a lot of stuff on the waterfront.

Posted on: 2010/1/26 13:47
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Re: Crescent Court?
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lisamisa wrote:
Does anyone have any "new" insights into this condo? It does seem like a great bargain for comparable condos in downtown JC.
this information is only accurate if you are a real estate sales professional with your compensation determined by the sales you generate and that case this is the best deal ever in dtjc - never ever will such an incredible opportunity materialize in this area ... if you buy now, you simply cannot regret it ... (because you are contractually bound ... sucker ...)
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To buy or not to buy... what do you think?
run ... lisa ... run ...

Posted on: 2010/1/26 9:51
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Re: Crescent Court?
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Does anyone have any "new" insights into this condo? It does seem like a great bargain for comparable condos in downtown JC.

To buy or not to buy... what do you think?

Posted on: 2010/1/26 7:57
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Re: Crescent Court?
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I may be wrong, but I recall that the salesperson said that the maintenance was around $250/month. I remember thinking that there was no way they could keep the building maintained at that level. I looked at the master documents they had in the office and their cost estimates were too conservative.

Posted on: 2009/11/30 19:01
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Re: Crescent Court?
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I agree. It had potential to be a pretty nice little addition to the neighborhood. We were thinking about buying, until we did the research. The display kitchen in the showroom on Newark was dreadful. The tiles buckled under our feet.

Posted on: 2009/11/30 16:04
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Crescent Court?
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This development has been a HUGE disappointment. The previous poster is right; the salesperson said that the homes had to be closed BY October 2009 - the end of the fiscal year. People have relied on this information and made plans accordingly. There is ZERO communication from the sales office. People have been waiting, and waiting, and waiting - some for close to two years - that a support group is probably in order.

On most days, there is no activity at the construction site. The construction work itself now appears shotty and questionable. There is also a lot of puffery regarding the size of the bedrooms, the bathrooms, the details, the appliances, and the other amenities.

There is just a lot of conflicting and inaccurate information regarding this project.

A HUGE disappointment !!

DTResident

Posted on: 2009/11/30 13:35
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Re: Crescent Court?
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The salesperson also said last winter that they HAD to close these units by October 2009 to make the fiscal year end deadline. He also said that Cablevision services the area. Uh, no.

I was concerned about the model kitchen because there were lots of dents from high heels in the kitchen floor. Cheap materials?

Also, is anyone buying these other than speculative real estate agents?

Posted on: 2009/11/29 20:01
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Re: Crescent Court?
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I poked around this place while they have been doing construction. For reasons I cannot understand, they have chosen not to locate the HVAC units with the W/D, but in a closet in the MASTER BEDROOMS! Who wants to listen to that all night?

Also, it appears that there will be a lot of noise transfer between floors. There is an obvious lack of sound reduction in between floors that should be there at this point in the construction. The sales people on Newark insist that there is a layer of concrete between floors, but there is none.

Posted on: 2009/11/28 15:19
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Almost two-thirds sold out -- Crescent Court offers buyers city living for less
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Crescent Court offers buyers city living for less

Saturday, November 28, 2009
North Jersey Homes

JERSEY CITY — Principals with developer Matzel & Mumford said Crescent Court, the firm’s condominium community in Jersey City, is almost two-thirds sold out.

These homes offer value to people who want to live within minutes of New York City, but enjoy the financial benefits of being in the Garden State. "More and more people are discovering the benefits of living close enough to the city to be there quickly, but far enough out that you don’t pay for the privilege," said Randy Brosseau, area president of K. Hovnanian Homes, parent company of Matzel & Mumford.

The community features 54 homes, including six one-bedroom units starting in the low $300,000s, and 13 two-bedroom homes starting in the low $400,000s. Occupancy is expected in February ’10, which means many buyers will be eligible to take advantage of the new federal home-buyer tax credit.

During the company’s Home for the Harvest promotion, those who purchase a home will get free maintenance for six months, a savings of more than $2,000.

For more information on Crescent Court, call 201-222-2745 or visit www.mmhomes.com/crescentcourt.

JERSEY CITY — Principals with developer Matzel & Mumford said Crescent Court, the firm’s condominium community in Jersey City, is almost two-thirds sold out.

These homes offer value to people who want to live within minutes of New York City, but enjoy the financial benefits of being in the Garden State. "More and more people are discovering the benefits of living close enough to the city to be there quickly, but far enough out that you don’t pay for the privilege," said Randy Brosseau, area president of K. Hovnanian Homes, parent company of Matzel & Mumford.

The community features 54 homes, including six one-bedroom units starting in the low $300,000s, and 13 two-bedroom homes starting in the low $400,000s. Occupancy is expected in February ’10, which means many buyers will be eligible to take advantage of the new federal home-buyer tax credit.

During the company’s Home for the Harvest promotion, those who purchase a home will get free maintenance for six months, a savings of more than $2,000.

Posted on: 2009/11/28 14:43
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Re: Crescent Court?
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I keep expecting to see this guy moving in.

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Posted on: 2009/9/14 14:36
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Re: Crescent Court?
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The sales people are still hoping for November move-in on the 1st, 2nd and 3rd floors, with the top floor being January. You can safely add a month or two to that. I was in there Saturday and all the framing is done, but no concrete on the floors and little if any sheetrock. They sold 60% or so, so you know they want to wrap it up quickly. Hopefully quality won't suffer.

Posted on: 2009/9/14 12:52
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