Categories: Weekly Wednesday Wrap Up
I attended a zoning board meeting last night, which was quite an informative experience. During the case before ours, there was a discussion about a small terrace on the front of the 5th floor of a new, luxury condo project under construction. The zoning board did not want the architect or owner to allow a deck or terrace on the setback or for the owners of this surely $500,000+ full floor unit to have access to it. One of my favorite moments was when one of the commissioners said his reason for objecting was that kids could throw bottles off it during the St. Patrick’s Day drunk fest. First of all, do you think the people who buy this place are that likely to have a SPD Party? Even if they did, couldn’t they just throw the bottles out their front window if that was how they get their jollies? Rather than ban the parade, or arrest the troublemakers,or otherwise address the real problems of that 1 day a year, the zoning commissioner’s solution is to deny the tax paying property owner an amenity that increases the value and enjoyment of his or her home for the other 364 days of the year.
Hoboken Condos Sales & Activity – Week of April 21st.
Here are this weeks numbers vs. a week’s ago numbers:
- 556 active Hoboken condo units today – vs. 555 last week.
- 58 price reductions, vs. 58
- 25 dabo (under contract) (2 short sales) vs. 11
- 23 sold (1 short sale) vs. 16
- 61 new listings (2 short sales) vs. 61
- 8 expired listing vs. 5
Studio & 1 Bedroom Hoboken Condos:
19 new listings.
217 total active – $379,860 average asking price. Average 82 DOM.
11 dabo. Average 56 DOM
- 406 4th St. listed at $335k on Jan 25; reduced to $319k.
- 1201 Adams listed at $428k on Feb 18; reduced to $415k.
- 330 Mad listed at $285k on Jan 12; reduced to $269k on Mar 5; $239k on Apr 20.
4 sold. Average price $283,000. DOM 83.
- 218 Jeff listed at $300k on Aug 17; reduced to $280k on Sep 14; sold for 263k.
- 463 1st listed for $409.5k on Sep 23; reduced to $389.5k on Oct 22; sold for $372k.
- 131 Mad listed for $300k on Dec 23; reduced to $292.5k on Jan 25; $285k on Feb 18; sold for $275k.
- 423 Jeff listed at $245k on Dec 22; reduced to $235k on Jan 11; sold for $222k.
23 price reductions.
Two Bedroom Hoboken Condos:
37 new listings
271 total listings. Average list price $569,295. Average 71 DOM.
- 198 up to $600,000
- 73 $600,000 and over
13 dabo’d. Average 94 DOM.
- 1327 Grand listed for $439k on Nov 18; reduced to $420k on Jan 29.
- 1313 listed for $540k on Jan 7; reduced to $539k on Jan 7.
- 610 Mad listed at $575k on Dec 28; reduced to $548.5k on Jan 11; $529k on Jan 28; $509k on Mar 13; $499k on Apr 1.
- 223 Park listed at $715k on Sep 8; reduced to $700k on Oct 5; $679k on Nov 10; $659k on Dec 15; $629k on Feb 5.
- 830 Monroe listed for $649k on Dec 7; reduced to $639k on Jan 29.
- 904 Jeff listed for $515k on Mar 8; reduced to $505k on Mar 26; $499k on Apr 5.
14 sold. Average price $504,964. Average DOM 71.
- 423 Jeff listed at $369k on Jan 12; reduced to $360k on Feb 17; sold for $340k.
- 1325 Adams listed at $594k on Feb 1; reduced to $560k on Feb 4; sold for $550k.
- 80 Monroe listed at $359k on Jul 20; reduced to $349k on Sep 23; $325k on Dec 9; sold for $300k.
- 163 Newark listed at $647.5k on Jan 12; reduced to $627.5 on Jan 27; Sold for $590k.
29 price reductions.
Three Bedroom and Larger Hoboken Condos:
5 new listings
69 active listings. Average price $809,054. Average 81 DOM.
1 dabo’d. Average 217 DOM
4 sold Average price $758,125. Average DOM 76.
- 838 Park listed for $989k on on Aug 13; reduced to $945k Oct 24; sold for $882.5k
6 price reductions.
Hoboken Condo Open Houses
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Thanks for reading and, as always, we welcome your comments!