Re: Montgomery Greene Condo Bldg
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Not too shy to talk
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Whatever happened to this building? I drove pass the other evening and people are still not living there.
Has it gone bankrupt because of all the luxury buildings which are in better locations and offer more amenities - in addition to the fact it's so late that buyers are walking away (with their deposits - I hope)? Plus I read that Lisbon's and the South rear carpark are to be developed into a huge 66 unit condo.
Posted on: 2007/3/22 1:27
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Re: Three 40-plus story towers on 110 and 111 First Street sites.
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Not too shy to talk
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Quote:
Welcome JCLaw, and thank you for the two rather interesting postings. I'm sure you'll enjoy your time here.
Posted on: 2006/6/27 20:16
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Re: Amid the Glitter, JC's Growing Pains
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Not too shy to talk
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Quote:
I don't suppose you happen to know of an on-line version of said article?
Posted on: 2006/3/14 14:31
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Re: How much impact will "The" Golf Course have?
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Not too shy to talk
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What do you need 13,000 sqft for?
Yes, $1.3M sounds like a good deal. I'd ignore the golf course: You can't see it - you can't walk on it - you can't join it. BTW: regardless of the size of the place, the area is kind of crappy, i.e. not safe. But I guess you can just take long walks around your unit.
Posted on: 2006/3/4 12:14
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Re: Quick Note from Steven Fulop For Jersey City-Feb 13,2006
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Not too shy to talk
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I believe I speak for many here whom will be looking forward to DanL's constructive and non-biased critique of Steve's email.
Posted on: 2006/2/13 21:20
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Applying the same logic...
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Not too shy to talk
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If the mugger had a gun:
Quote: In reaction to the attack, WARFA will be opening a target range, Lopez said.
Posted on: 2006/2/8 21:02
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Re: Fulop Calls for Resignation of Police Chief Robert Troy
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Not too shy to talk
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Quote:
A logical, thoughtful, high quality posting. I'll be sure to check out the book. Thank you.
Posted on: 2006/1/26 14:33
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Re: History of www.187warren.com
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Not too shy to talk
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Ladies and Gents:
I have no issue with anyone discussing the purchase price and/or For Sale price of my condo. It is public domain. Be that as it may, (Mr./Ms.) InJCSince81 should really take into account I'm not a typical seller or buyer (and I'm not a flipper) hence looking at when and how I priced my condo as a benchmark doesn't correctly reflect the Paulus Hook market. Pr?cis, I love my condo, it's currently priced at about 570 per sqft, which is neither cheap nor expensive ? I believe Goldilocks would say "Just right!". It's a great unit and Liberty Point was excellently built. As Annod wisely stated, it all about "comparables", when selling/buying property I always actively encourage anyone to go and look at ALL options available. I'm selling my home ? someone's potentially buying a home ? that's a significant decision for someone. So - prices might go up and prices might go down and prices might stay the same. The only thing I know for sure is that my life's a whole lot more complicated than the Paulus Hook real-estate market. Regards, Steve
Posted on: 2006/1/12 5:13
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Re: Does the HPNA represent the community?
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Not too shy to talk
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Quote:
Thank you Kermit. I thought I was the only one who found Bright Moment's graphics irritating, and provide neither value nor humor.
Posted on: 2005/12/9 16:51
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Re: HPNA neglects to hold Nominations for Elections
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Not too shy to talk
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Many thanks Minnie - keep fighting.
Geoff Elkind and Sam Stoia appear to be a couple of official a-holes. Have either of them posted on JCList?
Posted on: 2005/11/3 9:59
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$8.95Million buys you an 11K sqft Des. Res.
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Not too shy to talk
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Is it me, or does $2M for a brownstone seems kind of pass? these days?
361 - 363 1st Street, Jersey City : $8.95Million
Posted on: 2005/10/18 23:12
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Re: The Beacon
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Not too shy to talk
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Henry said that the restaurant and misc. stores will be open to the public. Plus I would have thought anyone purchasing a store would have in their contract of sale that The Beacon must remain open to the general public.
I can't imagine a restaurant, bank, grocey store been profitable with only 120 units as customers, (growing to 1200 in 5-years). However, I might be wrong.
Posted on: 2005/10/9 12:36
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Re: The Beacon
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Not too shy to talk
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I went to an appointment at The Beacon Sales Center this afternoon and thought I?d share the info:
Studios ? High $200K to Mid $300K ? between 596 sqft and 750 sqft 1 Beds ? Low/Mid $300K to Mid $500K ? between 750 sqft and 900 sqft 2 Beds ? Low/Mid $400K to Mid $600K ? between 975 sqft and 1300 sqft The best unit currently for sale was 1280 sqft for 575K on the 17th Floor, NE Views. Maintenance for the unit is a little crazy: $965 per month, that includes Gas, Water, Amenities. Nevertheless, the amenities are bloody excellent, for example it's got a 1500 sqft all-year indoor pool, plus a ton of other stuff ? very impressive. This is a 5+ phase development completion in about 5-years, but only the first two buildings currently for sale. Completion of the first two units is Jan 2007. Number of units available in the first 2 buildings phase: ~120 Number of units sold in the first 2 buildings in "one week": ~70 My wife and I met a gentleman called Henry and he was very informative. One final note: Let's try and not have a discussion about the area, it's obviously on the way up, which will hopefully benefit everyone. Time for a glass of wine.
Posted on: 2005/10/8 1:21
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The $2.3M Condo In Hamilton Park?
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Not too shy to talk
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Posted on: 2005/10/6 13:22
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Re: $2M Brownstone In Paulus Hook?
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Not too shy to talk
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I believe the $3M rowhouse is on York St. I don't know its number, but it's opposite the condo building: 104 York St.
The condo I can only assume is in the Sugarhouse. Correct?
Posted on: 2005/8/8 14:47
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Re: $2M Brownstone In Paulus Hook?
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Not too shy to talk
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Quote:
70 Sussex is probably an interesting example, as you possibly know this was an empty lot 3+ years ago. The lot was purchased by John Bober, the same developer who constructed the new condos at 60 Morris and 61-63 Sussex. I do not know how much John paid for the empty lot, I also don't know how much it cost to construct 71 Sussex (which is a three unit condo building), but actually looks like an old noble single family brownstone. The units originally sold for $455K (1000 sqft), $499K (1450 sqft) and $530K (1500+ sqft). Total: $1,484,000 The $530K unit (the PH), which John had built for his mother recently came back on the market about 4-months ago and sold in a matter of days for around $850K (possibly more), that's an approximately 60% increase. Calculate the same across the building and today's total market value for the three units would be $2.3M+. I'd guess that an emtpy lot on Sussex would would sell for more than $1M at auction. Spend $500K on building the place and you've got an excellent one family. Spend probably the same and you could build 3 condos and walk away with maybe $1M in profit. So the brownstone for sale on Sussex is $2M, and needs $300K spending on it to turn it into a one family = $2.3M. If it's 5000sqft in total that's $460 per sqft. Condo's in the Sugarhouse range from $780 per sqft to $1000 per sqft. I know you can't make a direct comparison between a full luxury condominium and a brownstone, however it does help shed some light onto how the $2M price was arrived at.
Posted on: 2005/7/28 17:15
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Re: $2M Brownstone In Paulus Hook?
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Not too shy to talk
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I concede. You are wiser than I. Thank you.
Posted on: 2005/7/14 2:40
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Re: $2M Brownstone In Paulus Hook?
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Not too shy to talk
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Quote:
What valuation model are you using? The model is extremely sophisticated and way too complex for simple num nuts to comprehend; fundamentally it's based around the share price of 4-year old tech stocks, the posiition of the Moon, what I had for lunch, and the strength of the stench of my socks. Patent Pending. I never, never ever take into account: 1. Has the property previously had numerous FULL PRICE offers 2. The value of property in the neighborhood recently sold or for sale 3. The location 4. What a comparable property in NYC and/or Brooklyn, etc. would sell for 5. The unique characters of the property, i.e. is it a one of its kind rowhouse or a 1000sqft condo, and the supply of said properties. 6. The sophistication of the potential buyer: i.e. is the buyer able to either qualify for a $1M mortgage with $1M in cash or might possibly have $2M in cash, (usually a strong indicator of a financial idiot or "fool" lacking the ability to make a calculated judgment as to whether a property is correctly priced). Or are they a wise property shark taking a 100% $400K mortgage on a pre-construction condo "cuz it's gotta to be worth $800K when me flips it".
Posted on: 2005/7/13 22:37
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Re: $2M Brownstone In Paulus Hook?
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Not too shy to talk
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And another one ($150K less than $2M), but this one has a car parking space.
http://newyork.craigslist.org/jsy/rfs/84240107.html
Posted on: 2005/7/13 20:36
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Re: $2M Brownstone In Paulus Hook?
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Not too shy to talk
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Posted on: 2005/7/11 18:32
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Re: $2M Brownstone In Paulus Hook?
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Not too shy to talk
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Quote:
Anyone know which house it is? The brownstone in question is on Sussex Street, the block between Washington and Greene, directly facing Pronto Cena. My wife and I went into the building when it was originally on the market about 12 months ago. The owner was asking $1.3M, and received THREE full price offers. So why didn't the owner sell then? Basically, the guy has owned the building for 20+ years. The ad on Craiglist is a little misleading, he has spent a lot on the place, none of wisely or to my taste. He's cut the interior up pretty badly, i.e. the parlor level is one unit, the second and third is a duplex unit (where the owner lives) and the top floor is another unit. The basement is nice, but again not done to my taste. There is very little original detail, even the staircase isn't original. The owner's accountant talked the guy out of selling for $1.3M, because the owner doesn?t have a mortgage on the property and it?s generating about $4K a month in rental income. Anyway, he had original listed it for $1.3M thinking it was a high figure, then got the three full price offers, had second thoughts and took it off the market for 6 months and has put it back on the market for $2M. Is it worth $2M? To me, no. It needs $350K+ spending on the interior to turn it into a beautiful single family brownstone. However, it's in the best area of Jersey City, on probably the best street, and probably the best block of the street. Is it worth $1.3M? Obviously it is ? 3 full price offers confirms that. Is it worth $1.5M? Probably when you compare the fact that 1800sqft in The Sugar House, with no view and no outdoor space is listed for $1.4M. Is it worth $1.8M? Maybe, there's a brownstone on VVP which again needs $300K+ spending on the interior and the $2M brownstone is arguably in a better location.
Posted on: 2005/7/11 12:05
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