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Re: JC rentals / Path issues
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Home away from home
 
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Also some souls living in lower manhattan, especially around south street seaport, are re-evaluating their decision to live in the area
Posted on: 2013/1/5 4:24
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Home away from home
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2010/6/17 17:22 Last Login : 2014/11/19 0:07 From Pizza City
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Here, here! I second that, Sammy The T! jmiz is the voice of reason in this thread. There are no more rentals on the market today than before Sandy exept for the few ground floor rental units that got flooded and the tenants opted not to move back in. What looked like more apartments hitting the market after Sandy were due to the fact that electricity was out and a weeks worth of normal real estate business was suddenly visible to everyone. Jersey City still remains an excellent deal when compared to Manhattan and Brooklyn, with Williamsberg's apartment prices up 174% since 2004-that's almost triple the price! Develpers don't 'dump' millions of dollars worth of apartments on the market and hope that someone will rent them. The truth is that developers invest tens of thousands of dollars to find out where people want to live and then they build there. And people want to live in Jersey City.
Posted on: 2013/1/5 1:49
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Re: JC rentals / Path issues
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Home away from home
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jmiz - a voice of reason - THANK YOU!
Posted on: 2012/12/24 16:43
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Re: JC rentals / Path issues
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Home away from home
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hey, developers are making up for lost time.....
Posted on: 2012/12/24 16:23
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Re: JC rentals / Path issues
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Home away from home
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And lets not forget Journal Square.
Posted on: 2012/12/24 12:40
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Get on your bikes and ride !
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Re: JC rentals / Path issues
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Home away from home
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It's that way with many condo building projects, I'd hate to have bought into a condo contract only to find most of my fellow apartment neighbors are renters. It used to be that once a renter left that unit would turn condo now it seems to be the other way around. Jersey City is becoming the apartment house mecca in all the land.
Posted on: 2012/12/24 12:38
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Get on your bikes and ride !
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Re: JC rentals / Path issues
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Home away from home
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I see this thrown around all the time on this forum. Where is there proof that the current infrastructure is inadequate? Does anyone experience a lack of water pressure during peak hours? Are there consistent sewer backups (that are not the result of clogged drains)? Quote: but when you have to leave at 7:00 am for a 9:00am job on Wall St because you'll never get in a train otherwise, it loses some of it's luster. Who on Wall St. is leaving two hours to travel two miles? I know not me, and I do that commute every day. I'm out my door at 8:20 and I'm passing Wall Street at about 8:50-8:55. Quote: And the natives are being priced out of their own city. Survival of the fittest has its downside. You mean the population that has inhabited certain neighborhoods in cities after the white flight? I don't think you have a grasp on the term "native" I love when people complain on here about the PATH being crowded and cry that it's because of over development. Ride the 4/5/6 at any time of day and then complain about the PATH. I've never heard of anyone crying about over development on the Upper East Side.
Posted on: 2012/12/24 0:01
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Re: JC rentals / Path issues
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Home away from home
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The current infrastructure, water mains, PATH, can barely support the current population. I'm not sure how awesome it will be. In theory the new development is great, but when you have to leave at 7:00 am for a 9:00am job on Wall St because you'll never get in a train otherwise, it loses some of it's luster.
And the natives are being priced out of their own city. Survival of the fittest has its downside.
Posted on: 2012/12/23 22:17
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Re: JC rentals / Path issues
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Home away from home
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Perhaps. But the long term trend is ever more wealthy people coming to live in NYC, and the less wealthy newcomers and priced out residents will always be coming to JC. Many of those rentals coming on will be condos in the next boom. In the late 80's my folks had a 2 marble bath 2 bedroom at 56th & Bwy in a planned condo building gone rental. In the early 2000's it went condo.
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Posted on: 2012/12/23 18:38
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Home away from home
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jc will be just fine..in many ways, its forcing jersey city residents to focus more on jersey city. there's always hoboken for nitelife and manhattan nitelife isn't what it was in its heyday...the scene is tired compared to some other worldclass cities.
Posted on: 2012/12/23 8:08
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Home away from home
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Once those buildings are occupied driving in JC will be a nightmare. Marin & Columbus is already ridiculous in the evening rush hour especially on Fridays.
Getting on the Path will also be a challenge!
Posted on: 2012/12/23 6:55
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Quite a regular
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These are all rentals; none of the projects are condos. The result will be a decrease in overall rental prices. Miami? JC is a 10 minute commute to the financial capital of the world. Miami is the capital of EuroTrash in a trailer park state.
Posted on: 2012/12/23 3:38
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Home away from home
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2012/1/11 18:21 Last Login : 2019/12/26 15:30 From GV Bayside Park
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What will bring rental prices slightly lower is the awesome amount of rental units that will be dumped on the market in the next few years. Downtown JC is becoming the new Miami. A $hit load of inventory with out enough buyers? I can see that happening, good point.
Posted on: 2012/12/23 0:26
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Home away from home
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Quote:
What will bring rental prices slightly lower is the awesome amount of rental units that will be dumped on the market in the next few years. Downtown JC is becoming the new Miami. A $hit load of inventory with out enough buyers? I can see that happening, good point.
Posted on: 2012/12/23 0:26
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Re: JC rentals / Path issues
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Quite a regular
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If you think the issues with the PATH due to Hurricane Sandy will have a permanent effect on rental prices in JC, you are sorely mistaken.
What will bring rental prices slightly lower is the awesome amount of rental units that will be dumped on the market in the next few years. There are 1,000s of units currently under construction in JC. Maddox, 18 Park, York St, massive Harborside project, new building at Newport, phase two of Marbella, Cast Iron Lofts, and Toll Bros at PAD. It really is amazing to watch. I don't know if there is any city in the US (about the same size as JC) that has as many rental projects as JC going up. Unreal...
Posted on: 2012/12/23 0:14
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Re: JC rentals / Path issues
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Quite a regular
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Not a temporary condition. The system is poorly managed.
Posted on: 2012/12/18 17:31
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Not too shy to talk
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you mean the mayor healy that was almost completely missing during the actual story and immediate aftermath? good luck. the issue is the that it's the only game in town - and they are NOT sympathetic or in any rush. again - what leaves a bad taste in my mouth is the fact there was NO ATTEMPT at a temporary solution - especially one that is such a LONG TERM "temporary" situation. people have lost their jobs because of the path's apathy. that's enough to sour anyone on a neighborhood.
Posted on: 2012/12/18 17:16
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Re: JC rentals / Path issues
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Home away from home
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Instead of ranting about less service and slow restoration I would question why the PATH is the only game in town when crossing the river. Anytime the PATH is out of service we are at their mercy. Someting to think about when moving here. You can't control the weather but you can prepare for it.
Posted on: 2012/12/18 13:27
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Get on your bikes and ride !
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Re: JC rentals / Path issues
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Home away from home
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News about 24/hr service shouldn't be like the stock market...wtf. The uncertainty hurts JC, its renters and property owners. But PATH doesn't care.
A simple estimate or even guestimate about 24/7 service would ease the masses. yes, it was confirmed indirectly in an interview that "full service" would be restored but that is not direct at all...
Posted on: 2012/12/18 6:08
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Re: JC rentals / Path issues
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Home away from home
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I would think even most more mature renters aren't as inclined as a 20 something living with roomates to migrate because of a temporary condition.
Posted on: 2012/12/18 4:22
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Re: JC rentals / Path issues
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Home away from home
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Some people will move but most will likely stay. Although I think Healy should be all over Christie for not doing more to make sure that JC/Hoboken residents have 24 access to Manhattan via shuttle buses or something if PATH is not functional.
Posted on: 2012/12/18 4:06
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Re: JC rentals / Path issues
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Home away from home
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The peer I'm helping to look for has decided to move to the NYC side. She's a 20-something who is trying to have a social life in Manhattan (and a job) and her words "it's too much" to live on this side. A few months of PATH upheaval is a lot for her when her budget isn't great to begin with. More roommates for her on the other side but she's doing it!
Posted on: 2012/12/17 19:14
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Re: JC rentals / Path issues
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Home away from home
Joined:
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This happened in the 90's after that big storm and also after 9/11. The station shuts down or stops having 24 hour service.
Some folks will move out and new folks will move in at a cheaper rate. I have noticed the rents downtown are allot less than pre-Sandy The last one I checked was a 2 bedrooms going for 1650, that's what I was paying for a two bedroom in DM in 2008. Good Luck to all the movers and shakers.
Posted on: 2012/12/17 18:53
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Re: JC rentals / Path issues
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Home away from home
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Let's be honest - a lot of us live in Jersey City not for the town itself, but because it's the unofficial "sixth borough" of NYC. The Port Authority is giving us a good reason to question that status (and as I stated in another thread, I personally started thinking of moving to BK or Queens when they raised the bridge and tunnel tolls - let alone what's happening with the PATH).
Posted on: 2012/12/17 18:25
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Re: JC rentals / Path issues
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Home away from home
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Well, my roommate of 2 months is moving out at the end of the month because of the PATH. She's moving back to NYC. She says the savings isn't worth the hassle of the commute.
Posted on: 2012/12/17 18:22
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Re: JC rentals / Path issues
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Home away from home
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Coincidentally I was searching rents today for a peer and was surprised to see so many in the under $1500 range (between $1100-1300) when just after the Hurricane there were none.
Posted on: 2012/12/17 18:20
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Not too shy to talk
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hi guys --
just a random question (please don't flame on me, just asking) - has anyone noticed a drop in rents or an increase in people opting not to renew since this almost 2 month long PATH train mishandling/destruction/debacle? I live in one of the highrises by Grove St. and honestly am wondering between the lack of service we moved to JC for and I personally have additional issues with insanely loud generators from Evertrust Plaza (cannot open windows due to noise) - and honestly if these rumors of no 24 hour path till at least Feb are true - I'm paying WAY too much for an apartment that now doesn't even seem worth it. I know everyone's lease is different - but if anyone has any insights or observations that would be great. I'm not ready to go poke around the building management company just wanted to get some opinions first. thanks
Posted on: 2012/12/17 18:10
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