Bamb00zle wrote:
A friendly word of warning - be extremely careful ?rebuilding? an existing 4-family building. You WILL trigger a requirement to upgrade the fire protection systems in the property.

Bamb00zle wrote:




For a newly constructed, or newly rehabbed 4-family building, the current fire code requires a centrally monitored sprinkler system throughout the entire structure.

MDM wrote:
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Fulop's opponent in the last election ran on a platform of expanding rent control right down to single family homes.

hero69 wrote:
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brewster wrote:
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hero69 wrote:
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brewster wrote:
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JCBORN wrote:
You can only convert to condos if the building is empty?

I believe you can convert it with tenants, and even sell the unit, though you won't get the same price with a rent controlled tenant as you would vacant.

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MDM wrote:
If she is in Zone R-1 (most of the Heights is R-1), she could only build a Bayonne Box 2 family. Better off rebuilding the 4 family.

Get the right builder and it will be a new building. I've seen it several times now that they leave a stick or 2 of the original standing as a "grandfathered zoning fig leaf" and basically build a completely new building. One 4 family, they even raised the ceiling height of every floor and doubled the lot coverage.

her building is 4 family....no rent control...bayonne boxes are fugly but i guess they make money...how much to build a bayonne box?

You don't understand, what we're saying is she's better off rebuilding the 4 family completely and give lip service to the zoning.

gotcha. how much does it costs to build a 4 family?

brewster wrote:
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hero69 wrote:
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brewster wrote:
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JCBORN wrote:
You can only convert to condos if the building is empty?

I believe you can convert it with tenants, and even sell the unit, though you won't get the same price with a rent controlled tenant as you would vacant.

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MDM wrote:
If she is in Zone R-1 (most of the Heights is R-1), she could only build a Bayonne Box 2 family. Better off rebuilding the 4 family.

Get the right builder and it will be a new building. I've seen it several times now that they leave a stick or 2 of the original standing as a "grandfathered zoning fig leaf" and basically build a completely new building. One 4 family, they even raised the ceiling height of every floor and doubled the lot coverage.

her building is 4 family....no rent control...bayonne boxes are fugly but i guess they make money...how much to build a bayonne box?

You don't understand, what we're saying is she's better off rebuilding the 4 family completely and give lip service to the zoning.

hero69 wrote:
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brewster wrote:
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JCBORN wrote:
You can only convert to condos if the building is empty?

I believe you can convert it with tenants, and even sell the unit, though you won't get the same price with a rent controlled tenant as you would vacant.

Quote:

MDM wrote:
If she is in Zone R-1 (most of the Heights is R-1), she could only build a Bayonne Box 2 family. Better off rebuilding the 4 family.

Get the right builder and it will be a new building. I've seen it several times now that they leave a stick or 2 of the original standing as a "grandfathered zoning fig leaf" and basically build a completely new building. One 4 family, they even raised the ceiling height of every floor and doubled the lot coverage.

her building is 4 family....no rent control...bayonne boxes are fugly but i guess they make money...how much to build a bayonne box?

brewster wrote:
Quote:

JCBORN wrote:
You can only convert to condos if the building is empty?

I believe you can convert it with tenants, and even sell the unit, though you won't get the same price with a rent controlled tenant as you would vacant.

Quote:

MDM wrote:
If she is in Zone R-1 (most of the Heights is R-1), she could only build a Bayonne Box 2 family. Better off rebuilding the 4 family.

Get the right builder and it will be a new building. I've seen it several times now that they leave a stick or 2 of the original standing as a "grandfathered zoning fig leaf" and basically build a completely new building. One 4 family, they even raised the ceiling height of every floor and doubled the lot coverage.

JCBORN wrote:
You can only convert to condos if the building is empty?

MDM wrote:
If she is in Zone R-1 (most of the Heights is R-1), she could only build a Bayonne Box 2 family. Better off rebuilding the 4 family.

Yvonne wrote:
When LeFrak was negotiating with JC, it had strong rent control laws. LeFrak refused to build high rises unless JC changed the laws and it did. New construction has a 99 year free period from rent control so basically, no rent control. That change happened sometime in the 1980s. It is the reason why so many older buildings became condos. In the 1970s many older building in downtown and Journal Square were rent controlled, basically, they are now all condos.

MDM wrote:
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wow, I thought rent control only applied to older buildings built before 1969(?) containing 5 units or more. So, are you saying that JC could impose rent control on all those high rises?

From what I understand, Jersey City currently does not apply rent control to new construction. However, they could, but the State law preempts the city from doing so until the building is five years old.

Fulop's opponent in the last election ran on a platform of expanding rent control right down to single family homes.

i have a friend in the Heights who has an old 4 family house...it's in good condition but she keeps wondering if she should tear down and build anew....condos or rentals? thoughts? how much is construction psf?

wow, I thought rent control only applied to older buildings built before 1969(?) containing 5 units or more. So, are you saying that JC could impose rent control on all those high rises?

brewster wrote:
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JCBORN wrote:
Did anyone on here convert a rent-control building into condos? Is that an easy process?

FYI, it still doesn't take it off rent control, one owner cannot own more than 4 units or it stay on. Plus you'd get killed by the tax increase! Condo and sell is a better plan. Even better plan is to scrape the typically crappy old building with funhouse floors and crumbling ceilings off the lot and start fresh building modern more valuable condos to sell. A lot of those rent control railroads are pretty awful living spaces, 11' wide, 65' long with windows only at the ends.

MDM wrote:
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JCBORN wrote:
Did anyone on here convert a rent-control building into condos? Is that an easy process?

Your big upfront expense will be bribing the tenants to leave. Typically this is 2 to 3 years worth of rent paid once the tenant leaves. Hoboken during the 1980s real estate boom was infamous for incidents of mafia lighting hitting buildings. Nothing gets rent controlled tenants out faster than a fire.

I did one building years ago that I got off rent control: I eliminated the commercial unit, turning it into a 4 family. You can do this with 6 and 8 family buildings as well.. Combine the apartments into huge units. Huge apartments though, especially in a downturn, can be harder to rent.

New construction (unless the state law changed since I less checked) is free from any local rent control ordinance for 5 years.

JCBORN wrote:

This is what I was afraid of. What if you don't get all of your tenants out? You always have 1 or 2 tenants who think they will get $1M to move. You can only convert to condos if the building is empty? Although it is a good idea to combine apartments I think I would have problems converting them back to 6 units once I want to sell them off.

MDM wrote:
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JCBORN wrote:
Did anyone on here convert a rent-control building into condos? Is that an easy process?

Your big upfront expense will be bribing the tenants to leave. Typically this is 2 to 3 years worth of rent paid once the tenant leaves. Hoboken during the 1980s real estate boom was infamous for incidents of mafia lighting hitting buildings. Nothing gets rent controlled tenants out faster than a fire.

I did one building years ago that I got off rent control: I eliminated the commercial unit, turning it into a 4 family. You can do this with 6 and 8 family buildings as well.. Combine the apartments into huge units. Huge apartments though, especially in a downturn, can be harder to rent.

New construction (unless the state law changed since I less checked) is free from any local rent control ordinance for 5 years.

JCBORN wrote:
Did anyone on here convert a rent-control building into condos? Is that an easy process?

JCBORN wrote:
Did anyone on here convert a rent-control building into condos? Is that an easy process?

Yvonne wrote:
I just read the ordinance purpose, the return will drop from 6% to 2.5% above the maximum passbook. More building will become condos.

JPhurst wrote:
I'm glad the councilman brought this up. Hardly anyone knows that we even have a rent control ordinance. By all means we can discuss whether we should have one or whether it would accomplish its goals IF it was enforced. But compared to NYC, where rent control is a widely discussed issue and both the public and real estate professionals are aware of it, Jersey City has not done a good job making people aware of their rights and obligations.

hero69 wrote:
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jc_dweller wrote:
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JCBORN wrote:
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user1111 wrote:
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hero69 wrote:
what rent control crisis. i see cheap apartments downtown all the time, whenever i pass by realtor offices

Wait, What? Do you understand what rent control is?

Rent control is a government program that places a limit on the amount that a landlord can demand for leasing a home or for renewing a lease. Rent control laws are usually enacted by municipalities and the details vary widely. All are intended to keep living costs affordable for lower-income residents.

I don't believe it is for lower-income residents. That would be Section 8. If you make too much money, then you would not qualify for section 8. Maybe the same should apply to rent-control.
You can make $1,000,000.00 /year and still live in a rent-control apartment. You can live in Florida and still not give up your rent control apartment in Jersey City. These are some reasons why I believe we need to update the ordinance.

Rent Control: yes you can make $1m year and live in rent control. there are no income limits on rent control - all you have to do is find a unit that qualifies. All buildings over xxx years old (I think it's 35 but I could be wrong) with 4+ units are rent controlled. The annual increase is set by the city.

Section 8: restricted to those with low incomes whereby the government subsidizes the rent by paying a portion of it directly to the landlord.

Affordable housing: units set aside for people making xxx% of the AMI. This includes Very low (30%) , low, moderate, and 120%, if I remember correctly. The number ranges based on # of people in the household, but a 1 person household can make up to somewhere in the $70k range to qualify at 120%. https://www.nj.gov/dca/affiliates/coah/reports/incomelimits.pdf

The problem with this conversation is that when (many) downtown residents complain about a lack of affordable housing they aren't talking about the people making $50k (or a family making $90k who has to pay most of their income for housing. What they're really saying is "because I can't afford to live on this block it's not fair." Guess what, if you're making $80k, $200k, whatever, the amount of affordable housing downtown will not impact your housing choice. It's lovely if everyone is just complaining because they're altruistic and are advocating on behalf of their less-fortunate neighbors, but I highly doubt that.

ret control start a 5 and above; not 4 and below

terrencemcd wrote:
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JCBORN wrote:
I also like how they say the average rent downtown. Does that average include the new luxury apartment buildings? It would be nice if they can tell us the average rent downtown for a rent-control apartment.

The info from Zillow, Trulia and the Census does not separate new and old buildings.

I don't know the average rent for a rent-controlled apartment -- a hard but potentially not impossible task, but would take a big public-records request. Did not have time to do that before yesterday's press conference.

JCBORN wrote:
I also like how they say the average rent downtown. Does that average include the new luxury apartment buildings? It would be nice if they can tell us the average rent downtown for a rent-control apartment.

jc_dweller wrote:
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JCBORN wrote:
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user1111 wrote:
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hero69 wrote:
what rent control crisis. i see cheap apartments downtown all the time, whenever i pass by realtor offices

Wait, What? Do you understand what rent control is?

Rent control is a government program that places a limit on the amount that a landlord can demand for leasing a home or for renewing a lease. Rent control laws are usually enacted by municipalities and the details vary widely. All are intended to keep living costs affordable for lower-income residents.

I don't believe it is for lower-income residents. That would be Section 8. If you make too much money, then you would not qualify for section 8. Maybe the same should apply to rent-control.
You can make $1,000,000.00 /year and still live in a rent-control apartment. You can live in Florida and still not give up your rent control apartment in Jersey City. These are some reasons why I believe we need to update the ordinance.

Rent Control: yes you can make $1m year and live in rent control. there are no income limits on rent control - all you have to do is find a unit that qualifies. All buildings over xxx years old (I think it's 35 but I could be wrong) with 4+ units are rent controlled. The annual increase is set by the city.

Section 8: restricted to those with low incomes whereby the government subsidizes the rent by paying a portion of it directly to the landlord.

Affordable housing: units set aside for people making xxx% of the AMI. This includes Very low (30%) , low, moderate, and 120%, if I remember correctly. The number ranges based on # of people in the household, but a 1 person household can make up to somewhere in the $70k range to qualify at 120%. https://www.nj.gov/dca/affiliates/coah/reports/incomelimits.pdf

The problem with this conversation is that when (many) downtown residents complain about a lack of affordable housing they aren't talking about the people making $50k (or a family making $90k who has to pay most of their income for housing. What they're really saying is "because I can't afford to live on this block it's not fair." Guess what, if you're making $80k, $200k, whatever, the amount of affordable housing downtown will not impact your housing choice. It's lovely if everyone is just complaining because they're altruistic and are advocating on behalf of their less-fortunate neighbors, but I highly doubt that.