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Re: Metropolis Towers
Home away from home
Home away from home


I just moved in here about 1+ month ago. Compared to newport rentals etc, i find it rather good. Cheaper and all utilities included, warm in the winter, and 5min to path/work!!!

Although the gym is not state of the art, it's decent and rarely crowded.

The only problem is the *(#@*(#*@( smell in the hallways. It's like rotten curry or something, just awful. But once you are in the unit itself, there's no smell.

Definitly a good rental, buying i am not so sure...cant imagine buying a unit with that nasty curry smell outside...

Posted on: 2007/1/10 23:14
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Re: Liberty Harbor North
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Home away from home


do they have any studios for sale around 500 sqf?

Would jumped on this deal a year back, but now am too scared to spend anything more than 200k with the way the market is going.

Posted on: 2006/11/25 3:48
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Re: 2,600 homes, cafeteria & movie theaters... Jersey City's Bel Fuse opens huge Chinese factory
Home away from home
Home away from home


Quote:

soshin wrote:
They make it sound so sweet and wonderful. However, just think that you are living in a place where the company pay you piss-poor wages, but hey, you can go to the movies or spend some of those piss-poor wages.... in a movie theater and shops that we, the company, will provide..........

$7k a year might sound good (if you were earning nothing before) but once you spend a good amount of that 7K in the company store and on company provided accomodation, it's a lot less than 7K you have to send to your family. This is pure and simple explotation........

Why is this crap in a Jersey paper anyway? So we can all feel proud that outsourcing and exploitation is a good thing?


stop being so ignorant and talk out of your ass. $7k is ok salary in china when you compare the cost of living there. In shanghai (the most expensive city in china other than hongkong), a nice meal costs $2.

Most chinese are living just fine under those salaries, i would say probably better than lower-middle class in the US. It's only when you go for all luxury, then sky is the limit, but that's true anywhere in the world.

Factory campus is common and most workers prefer it that way, because the housing and amenites are usually a lot better and more convenient. Plus the company usually offer steep discounts on rent/food to their workers living on campus. This is not the 1920s anymore like you imagined in the movies, with dark factories and evil bosses whipping their workers. Everything is globalized....

The biggest problem in china right now is unemployment for college graduates. Because of the chinese culture and improvements to cost of living in recent years, now every parent wants their child to goto college. To give you an idea how crazy this is getting, a 5th grader studies about 12 hours a day, mon to sat, which includes normal class, afterschool classes, followed by private tutors etc. On the exam day, streets are closed and all the hotels near exam centers are fully occupied by parents for their kids.

As a result, china does not know what to do with its huge pool of college graduates, many cannot find whitecollar jobs. Yet bluecollar workforce is in short supply, so they have to be filled by farmers etc outside of the city.

anyway didnt mean to turn this into a rant...

Posted on: 2006/11/24 20:02
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Re: shore club - property tax too high?
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Home away from home


from my understanding:

1) Newport's James Monroe condo has/had the same abatement as shore club

2) Abatement aka PILOT locks in your "tax" rate for a fixed number of years, so you pay the static amount of "tax" each year no matter what the actual property tax rate is.

3) Abatement/PILOT in newport are usually about the same or slightly more expensive than the normal property tax at the beginning and become a bit cheaper over time as normal property tax increases. In the end, the difference is small.

4) Abatement/PILOT is *NOT* deductable, so dont expect that fat tax return check. This makes them MUCH less desirable than paying normal property tax for those in the ~20%+ tax brackets.

5) There are so much confusion around abatement, as soon as people hear the word abatement, they assumed hey dont have to pay any property tax or very little (which is one reason developer like to attach tax abatement to their units), BUT in reality you actually pay MORE because they are not tax deductable.

those are my research from last year on james monroe when condo shopping, in the end i decided there is just no way to justify purchasing in newport value wise and bought in saint johns in jsq instead. Now looking back, think i made an excellent decision.

Posted on: 2006/10/25 20:03
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Re: Activists oppose 'Dogpatch' demo: 40 buildings making way for traffic improvement
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Home away from home


It just seems ANY attempt at progress to improve jersey city are met with those "activists" screaming bloody murder. They really need to get their head out of.... I drove by that area, it was a run down half vacant dump with garbages everywhere. Should razed the place a long time ago, glad city is building something over it..ANYTHING for that matter is better than what's there right now.

Posted on: 2006/10/9 15:51
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Re: Not just Downtown - Port Liberte is another example of Jersey City's scorching real estate market
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Home away from home


Quote:

GrovePath wrote:
"We still pay more than in Central Jersey. It's expensive to live here," Dattolo said - adding they pay more than $6,000 per month in maintenance and homeowner association fees on her property and the boat slip behind the house.



is this for real? the guy is paying $6000 on maintainence fees A MONTH? does he own a mansion or something in port liberte?

it has to be a mistake, maybe he meant $600?

Posted on: 2006/8/11 2:52
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Re: 18% TAX HIKE!!!!
Home away from home
Home away from home


Quote:

Woodsy wrote:

I've got a better idea, why don't we just institute a maximum wage, say 30K, anything you earn over that goes to bring everyone else up to that same level and once that's achieved the rest goes to the government in taxes. This way the unemployed high school dropout makes the same amount as the doctor who worked his a$$ off and racked up a fortune in debt to put his way through med school. We wouldn't want to hurt the poor flunky's self esteem by not leveling the playing field for him.


i think there is a name for that...hmm let's see...oo yeah...COMMUNISM

Posted on: 2006/7/30 18:32
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Re: Condo Shopping Observations
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Home away from home


20% drop in a year is not realistic unless something catastrophic happens. It's pretty much certain the market is going for a soft landing. Most likely the prices will continue to flatline in the next year then drop slowly over the next 5 years. And the rates right now are still very low compare to historic values.

Another point is new inventory doesnt ALWAYS mean lower prices. I found in many cases, a luxury building like the new trump condo will actually RAISE property value in the surrounding areas. (Although in today's market, it probably wont have much impact either way).

wibbit
ps i stopped reading anything with nickl on it a long time ago. why are you guys still wasting time with him?

Quote:

drgoogle wrote:
Hello,

In the last week or so, I have been to sales offices and received prices for remaining units at these new construction buildings:

A - $600-$800/sqft (very nice building but overpriced)
Fulton's Landing - $550/sqft (terrible quality, poor layout)
Gulls Cove - $500-550/sqft (views wont last, far from PATH)
Montgomery Greene - $580/sqft (great finishes)
Waldo Lofts - $500/sqft (about to be engulfed by Liberty Harbor)
The Beacon - $465 - $500/sqft (location is in the projects)
Gove Point - $690/sqft (price point is ridiculous, renters comon!)
Schroeder Lofts - $475/sqft (too far from Path)

Most buildings are between 45-75% sold. I can report to everybody prices were $40-$100/sqft cheaper only 4 months ago, as most of these buildings instituted prices increases in just the last 3 months. These price increases exist despite agents getting desperate to sell the units that are remaining. I personally witnessed developers negotiating on upgrades, financing, and yes even price. There is CLEARLY a slowdown underway. With current prices not reflecting this slowdown and interest rates at 4 year high, I have to conclude that this is a TERRIBLE time to buy a condo in JC. I wanted to buy a condo very badly, and had saved up $100,000 to do so this year. BUT with my analysis, I have decided to calm my excitement and wait for prices to reflect the rising inventories and lack of demand. I see prices coming in at 20% lower in the next 12 months and that Trump's new 1000 units will only put more downward pressure on others prices as his units will not sellout.

Thoughts anybody?

Posted on: 2006/7/10 18:05
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Re: Censorship on Newport Waterfront Association Boards
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Home away from home


Quote:

LostLaMancha wrote:

Gaga, we know who you are. you are the gadget nerd, right :). I remember your conversations with Chaturganj. And didn't you move to JSQ? I thought you got back on the board just to aska coupe of questions about Comcast, and got banned :). And you are definitely not Falcon (not that there is anything wrong with that). That is how the NWA is run. What is the point of posting the truth about yourself on the NWA board? The post might be deleted, the author banned, and no one would be any wiser. Sonia treats that board and the forum as private property, not a community forum. Which is why different views are not entertained. Earlier when Prashant Sehgal was the webmaster, I asked him so many times as to why he allowed the board to be run the way it was. But apparently Prashant had a subsidized apartment himself, and so he never questioned the rules set by Sonia.

Sonia and her goons are quick to point out about the Lenin's rent susidized apartment, but the rent of Sonia's apartment never comes up.


haha hiya LostLaMancha, so that's where you been hiding. i was wondering what happened, as you were a very active poster on nwa in the past. Did nwa ban you too?

yeah i bought a place in jsq a couple months ago, and my comcast cable was moved as well with no change to equipment/package/pricing etc. (very nice feature on comcast part). So i just logged on nwa to ask some question after the offer expired. Then saw sonia waving the ban stick around again (she's done it in the past too). Posted my inquiry, got deleted, asked why deleted, got banned with no explanation....after 3 years of being a active "good" member of the board. what a joke!

Posted on: 2006/5/3 17:16
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Re: Censorship on Newport Waterfront Association Boards
Home away from home
Home away from home


Quote:
cleo:

Gaga is a fellow by the name of Dan Falcon, who has lived in Newport for ten years in a rent subsidized apartment at the George Washington or one of the presidential plaza buildings. Dan has a high school education, but likes to think of himself as an economist. He is always spitting hate at Newport. You can read about him, as he is quoted in this week's Hudson Reporter. There was a meeting at the city council, where he challenged the members (except Steve Fulop) for giving Newport a tax abatement. Sonia is also highlighted in that same story, she favored the abatement because it means Lefrak will have to fufill a written promise to our community that he will complete the waterfront walkway after the abatement was approved.


WHAT A LOAD OF CRAP!! I am gaga on nwa board! i moved to newport 3 years ago after getting a job in a financial firm by the waterfront. I joined nwa forum around the same time (back when it was still unmoderated and in the old text board format). It was just a place to talk and get some updates on things newport.

I DONT EVEN KNOW WHO DAN FALCON IS.

Can someone please post this message for me on nwa? And tell Cleo to get a freaking clue.

I was banned from posting after asking why my previous post was deleted.

Posted on: 2006/5/3 4:25
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Re: Censorship on Newport Waterfront Association Boards
Home away from home
Home away from home


this is ridiculus, my post was deleted on nwa too. I questioned why the original poster was banned for having a different opinion than sonia and said something like

i know it's a private board and you can do whatever you want with it, but dont label it as a newport community board. A community forum is where people can come together to debate and even argue on varies issues without the fear of getting banned/censored as long as it's done in a civilized manner.

my entire post was deleted without any explanation. Now i believe it, nwa really is just a front for sonia and her goons to work the area for lefrak.

Posted on: 2006/5/3 0:41
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Re: Montgomery Towers Co-op
Home away from home
Home away from home


Quote:

AlanSommerman wrote:
But seriously, do people think the value of those apartments will rise because of the two large projects going up on the north side of Newark/Columbus? I have seen apartments in The Gregory (not the current name) and they were very nice, but the place stunk. I imagine Montgomery Tower is similar. Also, I thought another building was going up on the Gregory's grounds where the swimming pool building is - is that still on the books?


What you are talking about? although those two buildings are crap, the area is one of the best(or rather most convenient) around downtown.

So yes most sane people would rather live in a crappy building but in a good area than a good building but in a crap area, although with all the dorks buying into The Beacon, i am not sure anymore.

Besides you can always rennovate the entire apartment, so the hallway/lobby is not well down... shrug....

The more serious issue as i said, is their financial, this is especially important for a coop. When i was buying earlier this year, i was shown a couple units in there for 170k each, around 900 sqf. Was very tempted, but no bank will issue mortgage and the more i looked into their finanacial the more it sounded like a bad idea.

So just keep that in mind if they are asking 400k for the same units now...

Posted on: 2005/12/5 6:10
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Re: Montgomery Towers Co-op
Home away from home
Home away from home


go through their financials VERY carefully. Those two coops (montgomery and the one across) had major financial problems to the point where no bank will issue a mortgage. The situation is improving though(i think).

if condo is 400k, coop for 300k is fair. Although it depends a lot on the building and maintainence fee etc. I know a couple coops in forest hills that's much more expensive than the condo next door.

Posted on: 2005/12/3 2:41
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