user1111 wrote:
Sorry but Brooklyn is way colder than Jersy City even it's ghettos.

jmcee wrote:
Just went on the Market today for 5.2M! It was three units that were combined.

Taxes: $48,824

Current owner's name sounds familiar: MANNING, ELISHA NELSON & ABBY

Zillow listing

Actually, in that regard I give The Gannon some props. They also have street level parking, but it was done in such a way as to not seem so out of place. It is "hidden" behind garage doors (so no gaping holes to stare into) and, as far as I can remember, the doors mesh with the rest of the building aesthetics. Unless you know to look for it, the parking can actually be missed.

Sommerman wrote:
Can there really be a bubble as long as interchangeable neighborhoods in Brooklyn, and now Queens, remain more expensive?

With the exception of bi-coastal couples where someone needs a car to get to a NJ job and the other works in Manhattan how often is DTJC just the cheapest choice?

Sommerman wrote:
http://www.nytimes.com/2015/05/15/boo ... rubble-of-rebuilding.html

What's an SJW?

devilsadvocate wrote:

I love liberals. If wealthy white people don't want to subsidize low income housing for the sort of people that will destroy the neighborhood and ultimately riot as in Baltimore and Ferguson, they are horrible racists and part of the problem. However, if the same white people move into black neighborhoods, they are horrible gentrifiers and also part of the problem. Heads I win, tails you lose.

By the way, this issue is needlessly racialized for political reasons. Truthfully, no one cares if a black Yale law or med or HBS grad moves in next door. However, this isn't what we're talking about. We're talking about public housing and WHOEVER lives there - whether white, black, Hispanic, etc. is going to be problematic. However, they are disproportionately black and Hispanic, so we can pretend that this is a racial issue and not a class one.

Frank_M wrote:
Quote:

JGJDNYCJC wrote:
Not true. Construction jobs attract folks from far and near -- realtors, builders, electricians, plumbers, truckers, et al. Buildings require ongoing maintenance staff, many of whom are local. Again that's doorpeople, security staff, cleaners, electricians, plumbers, repair work, designers, et al. You also attract buyers/renters, which in turns generates demand for teachers, firemen, police officers, tutors, nannies, doctors. This is basic economics.

?Not true,? isn?t an answer to a question.

Of course development is financially beneficial to many people, myself included since I work in design and construction, but when the Mayor says that he ?couldn?t be more proud of? of job creation in Jersey City in process of glad-handing a developer, I have to wonder where the hyperbole is coming from. After all, reports of the initial proposal indicated that this ~$140 million project will directly create twenty permanent jobs.

Frank_M wrote:


I can appreciate that large scale residential projects benefit developers, investors, financiers, planners, designers, contractors, and equipment/material manufacturers and vendors?a lot of people who already have jobs, very few of which are based in Jersey City?but can anyone help me understand what permanent, local jobs that are worthy of so much pride are created by them?

NewportNJ wrote:
Comparing a rundown hood in the heart of Manhattan to a run down hood in Jersey City? Don't even start.

user1111 wrote:
A recent discussion on RetailWire.com explored Whole Foods Markets? new found success targeting secondary markets with smaller stores.

Whole Foods first began testing stores under 40,000 square feet in 2008, down from its traditional 50,000 to 70,000 square-foot boxes. Finding success with some as small as 25,000 square feet, the strategy was accelerated last year as part of its bold expansion plan to reach 1,000 stores.

The six new stores opened during its fiscal first quarter ended Dec. 31 averaged 38,000 square feet, yet produced a 29 percent higher sales per square foot ($776) versus the prior year?s new store quarter?s openings. New stores also produced about 450 basis points higher store contribution versus last year?s class, and in many cases benefit from lower build-out costs, lower rent, and lower utilities and taxes.

Smaller Stores

bodhipooh wrote:
Quote:

Bill463 wrote:
The A-1 Deli space on Grove! What's going in there? New desks and phones right near the windows.

If I had to guess, another real estate office!

shams wrote:
Hi,

I'm considering buying a house near the jersey city embankment. The property has a small backyard that juts up against the embankment wall. I like the privacy it gives the house, but is it a major gamble to buy over there (given that the future of the embankment is in question?)

It's nice and quiet there right now, but the idea of a busy/loud park overlooking my bedroom in say 10 years sounds pretty unsavory. Any thoughts or insights would be greatly appreciated. Thanks!

Monroe wrote:
Spring Lake is great, but there are very limited amenities. I'm not sure they even have public bathrooms available.

brewster wrote:


And cash is not a game for civilians, at least around here. Most people don't have half a mill sitting around. Out in flyover where you can buy a SFH for $25k, maybe. I've thought about doing that with my IRA.

JCMan8 wrote:
Quote:

kencares wrote:
We need to enact a 100% tax on non-resident property sales in Jersey City. The Australians, Chinese and other foreign investors are making it impossible for young families to buy anything in JC.

The funny thing is some may call your statement xenophobic, but other countries have even stricter policies. China for example, makes it nearly impossible for any foreigner to buy land there.

Of course, the flip side of this is it will lower property values, as you are now telling the property owner he will have to accept lower offers than he otherwise would have gotten. It's a tricky balance, but I agree the foreigners are buying up much of the good American properties, leaving many young Americans in the dust.

Prices continue to trail Brooklyn and Queens and appear reasonable compared to those areas.

tommyc_37 wrote:
Prices are artificially inflated due to an extremely low quantity of inventory for purchase, as somebody else noted earlier. There are bidding wars on mediocre properties. There really is very low inventory, for sale. Does anybody know why there is such a reluctance to build condos in these new high rises, as opposed to making them rentals? There is obviously ridiculous demand for condos.

tommyc_37 wrote:
Prices are artificially inflated due to an extremely low quantity of inventory for purchase, as somebody else noted earlier. There are bidding wars on mediocre properties. There really is very low inventory, for sale. Does anybody know why there is such a reluctance to build condos in these new high rises, as opposed to making them rentals? There is obviously ridiculous demand for condos.

devilsadvocate wrote:
Quote:

vindication15 wrote:
Same thing gets said about manhattan year after year yet demand stays high and vacancy is low.

Re: DTJC real estate, which is extremely different than other parts of JC, it is not a bubble. If you compare luxury high rises, 1brs in DTJC are going for the same rental prices as studio apts in manhattan, 2brs in dtjc are around the 1br pricing for manhattan.

When such a bargain still exists, there is much catching up to do..

I don't understand why you think this is a "bargain." Jersey City is an inferior good to living in Manhattan, and you're absolutely kidding yourself if you think otherwise. If you could get a comparable place in Manhattan, then I would immediately sell my JC home and acquire a similar property in Manhattan on Central Park or Riverside (two parks that are better than anything JC has to offer).

my2cents wrote:
You got me, I only read half of the "Tipping Point." - That being said one may not realize a trend until well after.

Yes, the current net inflow of people clearly exceeds the outflow. My question is, what is happening to young families that are either currently or pretty close to outgrowing their 1 or 2 bedroom apartments. I wonder if there is a hidden trend that people are not focused on.

ianmac47 wrote:
One of the biggest problems with the current monorail is that it wasn't designed for cold weather operation. For some reason nobody thought this would be a problem. When it first opened the switches would freeze and I think even the computers would crash in the cold.

margel wrote:
People are throwing the term "bubble" around pretty loosely here. If prices are rising rapidly, that doesn't make it a bubble, it just makes it a hot market, which could be caused by demand outstripping supply. It's only a bubble if the rising prices are baseless and fueled by speculation/flippers/etc, which I don't think is the case.

Many people are moving to JC from Manhattan and/or parts of Brooklyn where prices are also rising very rapidly, and by comparison, JC still looks like a good deal. Now whether Manhattan real estate represents a bubble, that's a very real possibility, since so much of it is buoyed by international buyers looking to stash cash. If that bubble bursts, then the outlying areas will be similarly affected.

trambone wrote:
Quote:

JC_Man wrote:
I think the Breastaurant fad is over.

Doubt it. You just can't be running out 4's and 5's and draw the clientele you want.

citybooster wrote:
What we should want to be is an alternative to ridiculous rental prices in Manhattan and Brooklyn.. not hell bent on matching them.