2010 Sep 7th

The Weekly Wednesday Wrap Up – Hoboken Condo Sales & Activity for the Week of September 6th

Hoboken Condos Sales & Activity – Week of August 31th

We are on vacation this week so this will be an abbreviated version of the WWWU.  Back to the full blown report when we are back next week.  Thanks!

Disclaimer:  The data relating to real estate transactions on this web site comes in part from the Hudson County MLS.  While some of these listings are, in fact, our listings they are not ALL our listings nor do we hold them out as such.   Century 21 Listings are identified with “C21″ after the address. Other listings are from the MLS and are identified with “MLS” after the address.  Information is deemed reliable but not guaranteed.

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  1. FN

    2 Constitution CT PH1/2 :

    Erik Bock bought for 2.76 million in 2005 sold to his employer Travelport for 4,200,000 in 2009 and travelport sold it for 2.2 million in 2010 ????

    Solution for underwater home owners apply for a job to Travelport :)

  2. Lori Turoff

    How do you know Travelport is his employer?

  3. FN

    just looked at travelport’s website to see who runs a company that buys at 4.2 million and sells for 2.2 milllion in 12 months and turns out Erik Bock is General Counsel and Corporate Secretary as per the webstite

    http://support.travelport.com/galileo/en-bl/about/Team/TDS

    looks like they relocated thier HQ to GA and must be a relocation deal done by Erik Bock…

  4. stan

    hi Lori.

    was 101 willow the shortsale?

  5. patk14

    FN, interesting catch. How did they get a 3rd party valuation to justify the $4.2 million purchase price? Public companies cannot just make up a number and provide compensation in this manner. There are tax implications so you’d think that they would be very careful and document the rationale for the price being paid. Good for the lawyer and bad for the company.

  6. carl

    I think we might have just found another example of corporate non-sense or maybe fraud

  7. Tiger

    >> bought for 2.76 million in 2005 sold to his employer Travelport for 4,200,000 in 2009 and travelport sold it for 2.2 million in 2010 ????

    Ok, this is very fishy. Maybe it’s some sort of a package? or tax sheltering arrangement? How much taxes do you have to pay on home value appreciation? is it as much as income tax?

  8. Tiger

    Ok, yea, looks like he is one of the (founders?) of Travelport, kinda interesting. Don’t know if the company is traded but if it was and I was a shareholder I would be pissed.

    If it’s between him and his buddies, oh well, good for you Eric!

  9. homeboken

    Tax rates on real estate gains are taxed much lower than personal income tax. Smells like a diverted compensation plan that is trying to game the tax system.

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