2009 Feb 20th

Hoboken’s First “Green” Condo Rates Headline Treatment

Nice Story About Hoboken’s Garden Street Lofts Appears in the “Your Home” Section of Today’s NY Daily News

By Howard Turoff –

[email protected]

Often Lori has written here that the “gloom and doom” stories about the national real estate market do not necessarily reflect our situation in Hoboken.  Factors like Hoboken’s  proximity to NYC, limitations on sprawl that our mile-square boundries provide, and relative affordability of  Hoboken condo prices (as compared to Manhattan), have allowed the Hoboken condo market to weather the current storm better than much of the rest of the country.  The article in today’s NY Daily News showers praise on one Hoboken condo project in particular – the Garden Street Lofts.  Check it out: Taking the LEED in NJ.  For starters, Hoboken finally  got a luxury condo development that wasn’t designed by Dean Marchetto.  Pains were taken to restore the old coconut processing plant to it’s original state but units have top quality finishes.  The article mentions the builder’s plans for further development nearby, including “Hoboken’s first automated parking garage”.  Well, maybe they got that part wrong.  Even if you’re pessimistic about the market, high-profile articles about upscale Hoboken can only help elevate our image.  What do you think?  Does a story in the news about Hoboken (that doesn’t involve political corruption or the SWAT team) fill you with civic pride?  Do you like the looks of the building?

  1. Ari

    An article like that can only help bring more folks to Hoboken. Maybe it will even spur some folks who are priced-out of similar places in NYC to consider Hoboken.

    That being said, I hope for the builder’s sake he didn’t build too many 1 bedroom places in there. I can’t believe there’s much of a market for 650K+ 1 bedroom apartments. Even if they’re top of the line, all the people who were buying up these types of places were either carefree finance/lawyer types…who now either don’t have a job or are in constant fear of losing their job.

  2. DKzzzzdkzzzzdkzzzz

    He priced himself right out of the market with 600/sq. foot. I hope he brakes even. Seems like a smart guy with good intensions.

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