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Re: Investing in JSQ
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As a downtown resident keeping a close eye on other neighborhood's real estate values, I personally find the heights more attractive than journal square right now. Journal square significantly improving is contingent upon redevelopment plans that have been promised but not delivered for over a decade. However, if Fulop makes it a priority it will come back sooner. His new tax abatement plan suggests that it is, and I heard he is also very supportive of the Loews theater.




Posted on: 2013/8/24 13:43
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Re: Investing in JSQ
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JSQ might be next in line for gentrification. But the area around St. Peter's seems to be a bit far from the PATH station. I would look closer to the PATH. Also consider Harrison. It has a PATH station and Panasonic is building their technology center there.

Posted on: 2013/8/24 9:56
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Re: Investing in JSQ
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I own a 2 family in that area. My rents are lower there (per sqft basis) than my stuff in the Heights due to the fact that when you get near Bergen Ave, the area goes downhill fast.

The high density of Section 8 / welfare housing brings in a lot of violent scum into the area. I have lost more than one tenant due to violent crime that occurred down the block.

Just keep that in mind when you budget rents into your financing equation.

The area has improved though since I have owned in the area, which has been for almost 14 years (I also lived down there until 2004). A lot of the non-rent controlled properties have been bought up an renovated, in particular by owner-occupiers. IMO, the only thing that is keeping the area from booming is those Section 8 apartments on Bergen. The buildings there are much more appealing (Townhouses, Victorian homes, etc.) than what you find in the Heights or even parts of Downtown.

Posted on: 2013/8/23 22:11
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Investing in JSQ
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Hi, I'm a five year JC resident, part in JSQ, part in the Grove Street area. I'm interested in purchasing a 1-3 BR unit in JSQ, probably nearby St. Peter's as an investment. I'm curious of anyone's input - I'm new at this and need help: do you expect JSQ apartment rental and real-estate apartment value appreciate over the next several years riding on the coat-tails of Grove Street? How is real estate value now considering the economy? And how is the market for landlords looking to rent now?

Any and all help is much, much appreciated.

Posted on: 2013/8/23 21:33
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