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Re: Investing in JSQ
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Thanks everyone for your input. Choosing between Harrison, The Heights, and JSQ gives me a lot to consider, but my gut tells me that JSQ is the safest long term bet with reduced flooding risk, gentrification of the area resulting from Hobokenization of Downtown, and the development that's slated for the area. I'm going to evaluate the crime rate, the new Mayor's promises (for what it's worth), and hopefully I can make a decent profit in rent for the next few years in hopes that the area really takes off later on....let's just hope e economy holds.

Again, thanks so much. And for those interested in doing so, please keep the conversation going

Posted on: 2013/9/2 20:12
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Re: Investing in JSQ
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Thank you!

Posted on: 2013/9/2 19:59
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Re: Investing in JSQ
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I'd agree with the last three posters about it being a place to invest. However, as someone that bought my property in McGinley Square are about five years ago, I've seen my property value plummet pretty significantly. I hope it's at the bottom now, and starts to increase soon.

That being said, it does seem like a good time to buy, with property being as cheap as it is (which i wish i knew five yrs ago). It's not going to increase significantly for a while, though. I think that once Journal Square gets some development, Montgomery Gardens goes away, and more people get priced out of/disenfranchised by an increasingly Hobokenized downtown, that more will seek out the JSQ area.

Posted on: 2013/8/30 5:24
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Re: Investing in JSQ
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I agree with ConstantReader and MC56 regarding Journal Square/ McGinley SQ Area. I just bought a 1 bdrm condo for investment a month ago and am just getting the apt ready for rental. I have it advertised on JCList as well. I think this area is great for investment and being walking distance to the PATH was one of the reasons I chose to invest here instead of the height.

Posted on: 2013/8/29 21:25
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Re: Investing in JSQ
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As someone who lives near St. Peter's, I agree with mc56 about McGinley Square's positives and negatives.

One additional plus: Some (not all) of the architecture in the neighborhood is quite good. A lot of houses currently swathed in aluminum siding have stained glass windows, turrets, etc. and could be made stunning with some loving restoration.


Posted on: 2013/8/29 17:50
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Re: Investing in JSQ
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I bought several years ago in the St. Peter's area, when I got priced out of Brooklyn, and am still happily living here. Personally I think this area is a good bet for long term investment because the PATH WTC and 33rd St lines run all night and provide Yuppies a direct, easy, reliable route home from Manhattan at any time, whether you're in the city working late or out with friends on the weekend. It's just like Grove St and Newport in that sense, only cheaper. Easy transport into NYC and price were my most important considerations when I was buying. This area also has no flood concern, thankfully.

The proximity to St. Peter's also insulates you a bit from market flux, if only a little bit.

That said, I think it has a ways to go. It's gritty and, so far, has little to none of the hip young social scene that's starting to get a hold of the Grove St area. It also doesn't have the clean, new feel of the Newport area. That's why it's still so cheap, both for investors and for renters. I doubt I could rent my 1 bedroom for a price that would cover mortgage and maintenance, even now, when rents are high. I think that the area will get nicer and become a more reliable, stable rental market, but it takes time for neighborhoods to evolve. If long term investment is your goal, I would recommend it.

I don't know anything about Harrison, other than the fact that I would have had to change trains at JSQ to get there from NYC. I do like to walk around this area though and have walked through the Heights. I agree with what posters here have been saying on that area. It's a pretty neighborhood, has nice parks and a lot of beautiful buildings. It has a more relaxed, family friendly feel than JSQ. You would probably get a bigger and nicer place for the same price. I don't get the sense that it has the same long term investment potential or development goals that JSQ/St. Peter's area does, because its transportation into NYC doesn't seem as obvious, but I don't live in that neighborhood - those who do may disagree.


Posted on: 2013/8/29 17:28
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Re: Investing in JSQ
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The Heights west of Kennedy is more of a traditional neighborhood with mostly one and two family homes. Some families have been here for many generations. There are not that many stores near by, quiet passive parks, less traffic going about. On the other hand the east side of the Heights (east of Central Ave.) is becoming more and more gentrified. I see pockets of condos and apartment building conversions popping up, a younger sect of people, a new artist community, a farmer's market in the park with local activities and interest, more bicycle riders commuting, and two bike shops that are busy. This section north of JSQ is an area worth checking out it has the best of all worlds. And the food's good too !

Posted on: 2013/8/29 15:12
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Re: Investing in JSQ
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Quote:

RUinHamiltonPark wrote:
But doesn't the elevator close after the HBLR shuts down for the night?

Bay Ridge OTOH has the R train 24-7; it has restaurants and bars; and it is better regarded.

The proximity to Hoboken and views are nice, but the rest doesn't compare.


No doubt about it, Bay Ridge is much more established, is much more lively, and has much much much more to do. But it's still a middle class, somewhat working class neighborhood, with mostly families (who have been there several generations), and the housing stock is mostly detached homes. All of these are characteristics that JC Heights has as well. Actually, the Heights is probably significantly less affluent than Bay Ridge, come to think of it. But I think the Heights, at its peak, will be or at least could be very similar to Bay Ridge in appearance and demographics. Maybe the kind of place that DTJC/Hoboken couples move to when they have a couple of kids and want a small yard and more space, while retaining a quasi-urban lifestyle?

The lack of easy access to 24/7 transit will keep the younger, nightlife-focused demographic out of the Heights. That's my opinion; things could be completely different in 20 years if 24/7 transit comes to the Heights (I have said multiple times that the Hoboken Path line should terminate in the Heights. Also, talk about the 7 train extension has been up and down for a couple of years...who knows).

I'd actually expect Bay Ridge to start attracting more younger types now too. Young people are pushing deep, deep into Brooklyn just to tell their friends back home they live in Brooklyn. I met a guy a few months ago who moved into an apartment in Flatlands (!!) instead of moving outside of the borough of Brooklyn. Some people are nuts.

Posted on: 2013/8/29 14:52
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Re: Investing in JSQ
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The elevator at Congress in the Heights does NOT shut down when train service ends. Its an elevator. It's always open. I saw roughly 30 people doing yoga at Riverview Fiske Park a couple of weeks ago on a Sunday with the Farmer's Market in full swing as a backdrop. I wished I had a good camera to capture it because it looked like an ad for a place you'd want to live. I own a 2-family nearby and have been waiting for change. It's been very slow but this last year it's rapidly accelerated based on anecdotal views of people walking past the house.....

Posted on: 2013/8/29 14:30
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Re: Investing in JSQ
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Please message me the info! Im def interested.

Posted on: 2013/8/28 23:15
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Re: Investing in JSQ
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Quote:

heightsliving wrote:
I bought a few years ago in the Heights. More specifically in the Western Slope. Great area. Great Nieghbors. Working Class Neighborhood. Its about a 10-15 minute walk to PATH. Buses are right up the block on JFK Blvd. Check it out. Good value for your money.

#1 to that HL It is a warm inviting atmosphere down here on the Slope plus you have access to all points out of the area. Everything is close by but not on top of you. And the biking is bearable if you know your streets. Have you joined your local block association and attend the monthly Captain's meetings ?

Posted on: 2013/8/28 16:43
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Re: Investing in JSQ
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I bought a few years ago in the Heights. More specifically in the Western Slope. Great area. Great Nieghbors. Working Class Neighborhood. Its about a 10-15 minute walk to PATH. Buses are right up the block on JFK Blvd. Check it out. Good value for your money.

Posted on: 2013/8/28 16:33
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Re: Investing in JSQ
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cancoloftyesno wrote:
harrison south of 280 is flood zone, not comparable to jsq


I won't argue with that - you're absolutely right. If you plan on taking out a mortgage and you buy in Harrison in the redevelopment zone, you might need to get flood insurance (which can be costly). For this reason, I'd recommend buying a unit on the second floor or higher if you make your purchase here (note that the same is true for Downtown Jersey City; I believe this is one reason why Journal Square may start to get alot of interest from developers and home buyers in the next 5-10 years).

Posted on: 2013/8/28 16:19
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Re: Investing in JSQ
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But doesn't the elevator close after the HBLR shuts down for the night?

Bay Ridge OTOH has the R train 24-7; it has restaurants and bars; and it is better regarded.

The proximity to Hoboken and views are nice, but the rest doesn't compare.

Posted on: 2013/8/28 15:18
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Re: Investing in JSQ
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I've lived by St. Peters College since 2010. This neighborhood must begentrifying based on the increased # of organic products for sale at C-Town. No joke. I've always felt extremely safe on my block. When we lived in Hamilton Park the car was broken into repeatedly. Haven't had a single problem up here. We are on Glenwood and love it.

Posted on: 2013/8/28 14:09
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Re: Investing in JSQ
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I have a 3 family near Congress. My tenants routinely take the elevator down to Hoboken (grocery store is near it). Plus, a number of bus lines stop within a one block radius. They transportation situation is actually pretty good.

Posted on: 2013/8/28 13:50
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Re: Investing in JSQ
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harrison south of 280 is flood zone, not comparable to jsq

Posted on: 2013/8/28 13:24
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Re: Investing in JSQ
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Dahood wrote:
jcwalkingman, how is the tax situation in Harrison? Is it stable? I ask because I am also interested in buying in JSQ or Harrison. This argument that nothing will happen in JSQ until DT is completely built out is bogus.


Depends on where you buy, but the condo buildings in the "Riverpark" neighborhood have another 10 years left on their tax abatement (taxes on 2 BD/2 BA, 1200 sf are under $5,700/year). Harrison is definitely a different market than Journal Square is - on the one hand, you don't have the "big city" feel - no highrises, not nearly as many stores/bars/restaurants. On the other hand (as mentioned in my previous post), you don't have the crime either (there haven't been any homicides in the past 4 years with the exception of some crazy white dude who killed his kid and parents a few years ago). But the area is very quite on the weekend - so if you like the energy & busy-ness of the city, maybe JSQ would be better (although the new buildings going up in Harrison are bringing in a few new retail/restaurant options)

Posted on: 2013/8/28 5:49
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Re: Investing in JSQ
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hero69 wrote:
JSQ is simply too disparate. The immediate vicinity around JSQ PATH will improve a lot, but I just don't see that happening a few blocks from the PATH station. It's just too disparate in my opinion. Just my opinion. who knows!

I sort of agree that the Heights may become like bay Ridge, but there are young hip people moving from the City and Hoboken to the Heights and Hoboken - attracted by rents that are not outrageous and the quick access to 42nd street


My several hipster tenants near Congress love it there, and have been there since 05. My newest, middle aged, tenants were directed to the Heights by their sleeve tattooed hipster son, who adores living up there.

I also know a number of Downtown/Hoboken refugee families up there, and happy about their choice. I agree the Heights has some distance to go but it doesn't feel scary the way lots of JS & B-L feel. It feels like working class strivers, not nonworking underclass. I must say one section 8 building on a block with it's drama and "hanging out" can really bring down the feel of the place, I can't imagine what having many concentrated would be like.

Posted on: 2013/8/27 20:17
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Re: Investing in JSQ
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JSQ is simply too disparate. The immediate vicinity around JSQ PATH will improve a lot, but I just don't see that happening a few blocks from the PATH station. It's just too disparate in my opinion. Just my opinion. who knows!

I sort of agree that the Heights may become like bay Ridge, but there are young hip people moving from the City and Hoboken to the Heights and Hoboken - attracted by rents that are not outrageous and the quick access to 42nd street

Posted on: 2013/8/27 18:48
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Re: Investing in JSQ
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In the next decade, JSQ will gentrify at a much more rapid rate than the Heights for the simple reason that there is a Path stop there. The Heights will continue to become JC's equivalent of Bay Ridge - nice and safe, but family-centered and not really popular for "young professionals" because of inconvenient/lengthy transportation to the region's core (Manhattan).

Posted on: 2013/8/27 18:31
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Re: Investing in JSQ
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Are there many shootings in JSQ? I always believed it was the most safe neighborhood aside from DT.

The Heights will require getting to the HBLR at 2nd and 9th- a transfer, and both stops attract a shady crowd and have been a hot spot for robberies.

Posted on: 2013/8/27 17:59
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Re: Investing in JSQ
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I say JSQ definitely over Harrison, but I actually like what I see in the Heights. The Heights has more of a neighborhood feel where kids can play on the Street and you don't have to be concerned about stray bullets (at least in the parts i've been to). The Heights is also a quick walk or light rail ride to the HOB or JSQ PATH stations and you have convenient access through the jitneys into 42nd street.

Posted on: 2013/8/27 13:56
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Re: Investing in JSQ
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i disagree that Harrison or even the Heights would be better picks over JSQ. Ive owned a 2br by St Peters since 2007 and am happy i did. Its only a ten minute walk to the PATH from where I am and I think its easier to rent to people who would rather be one stop closer to the city rather than one stop closer to Newark. And the heights is either a 20+ minute walk or a bus/hblr transfer which loses potential renters too. The times Ive seen Harrison, it is pretty bleak in terms of whats around for shoppers and entertainment whereas JSQ has the best potential to get some better bars, restaurants and good shopping options to come.

Given Ive had no safety issues since Ive owned my place and that JSQ has the best potential for an overall rebirth, Id say its the best (affordable) option of the three.

Posted on: 2013/8/27 12:00
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Re: Investing in JSQ
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how to check which buildings are section 8?

Posted on: 2013/8/27 1:42
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Re: Investing in JSQ
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JSQ will start to develop as people (and it's beginning) get priced out of DT.

I would say JSQ over the Heights because of PATH access...people don't want the HBLR transfer. Maybe the area right around the 100 steps once it's completed.

Harrison is definitely intriguing because of the PATH access...but no 33rd line.

I just bought my own place, but JSQ and Harrison I'd keep any eye on.

Posted on: 2013/8/26 17:30
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Re: Investing in JSQ
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MDM - I hate referring to people as scum, but too many section 8 people are just palin problematic. I don't see why the governmet can't require that section 8 people send their children to school, make their children get good grades, make them buy healthier foods, make them keep guns out of their homes, etc.

As Donna & Barabara said it, "enough is enough!"

Posted on: 2013/8/26 13:46
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Re: Investing in JSQ
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jcwalkingman, how is the tax situation in Harrison? Is it stable? I ask because I am also interested in buying in JSQ or Harrison. This argument that nothing will happen in JSQ until DT is completely built out is bogus.

Posted on: 2013/8/26 12:37
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Re: Investing in JSQ
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There's still lots of room for development downtown, both in new building and renovation of the existing housing stock. While this remains the case I wouldn't expect anything major to happen in JSQ. Doesn't mean it's not a good investment, but I wouldn't expect it to pay off in a big way anytime soon. Rough guess would be about 10 years for JSQ to start to see anything like actual gentrification. By the time it's obvious that gentrification is actually happening in JSQ, it'll be too late to make the kind of money you'd make if you got in now -- it's a bit of a dilemma.


Quote:

gowa_goes wrote:
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: 2013/8/25 21:17
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Re: Investing in JSQ
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I'd say Harrison is probably a better bet than JSQ (I've lived in the city for over 4 years now after living in downtown JC and Hoboken and love the combination of suburban elements, urban main streets, and proximity to places of interest - JC, Hoboken, NYC; plus crime is virtually non-existent here) but I can see Journal Square coming around if that KRE project actually takes off by the end of this year or beginning of next (keep in mind that it will take 2 1/2 years or so to build that first tower, so you wouldn't have large numbers of yuppies moving in til around the beginning of 2016 at the earliest). There are several other large-scale residential projects in the works around the station, but the KRE project seems most likely to happen since it's a joint venture by two reputable/experienced developers who've built in the area.

Posted on: 2013/8/25 19:11
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