Categories: Weekly Wednesday Wrap Up
Hoboken Condos Sales & Activity – Week of March 2nd, 2011
Attention Landords & Condo Associations – The St. Pat’s Day Party Could Mean Big Trouble for You
Be advised that if you are a landlord and things get out of hand on your property, you may be held responsible for the damage that results from your tenant’s actions. If you are a landlord, you can include a clause in your lease that prohibits parties in your property on this day. The same holds true for a condo association. If you are the members of the Board of Directors of a Hoboken Condo Association, you can prohibit house parties on this day, too. Aside from drunken conduct, think about the liability that may arise should your tenants overload a balcony and it collapse (as has nearly happened more than once in prior years); or throwing objects like a TV off a roof (as has also happened); or starting a fight in the building; or destroying common areas.
It boggles my mind that the City of Hoboken continues to allow bars to open in the early morning on this day. I see no benefit what-so-ever for anyone but the bar owners. Hoboken St. Pat’s Day is bad for property owners, it is bad for Hoboken’s reputation and image as a City, it is bad for traffic and encourages drunk driving. It is a horrible idea and I am vehemently opposed to it. This is not about a parade. It is not about celebrating Irish heritage. It is not intended for the children. It is a drunk fest populated by out-of-towners who come to Hoboken to get trashed and cause trouble. Until City Hall stops caving to the pressures of the local bar owners – a tradition encouraged by past Mayor Roberts, who owned bars in town, Hoboken property owners are cursed with this event. Zero Tolerance is better than nothing but it does not solve the problem. There is a downloadable flyer you can print out and post in your building to notify everyone of the Hoboken “Zero Tolerance” policy. I hope the City collects many, many dollars in fines to compensate the tax-paying residents of Hoboken for having to put up with this nonsense.
Tax Appeals – Time is Running Out!
I’m still happy to send you comps if you are appealing your own taxes. Keep in mind that the City has a 15% margin of error. If your assessment does not multiply out to at least 15% over the current market value of your property, you are not likely to be successful in an appeal. The “upper limit” multiplier for Hoboken is .3407. To see where you are at, take your assessed value and divide by .3407. For example, if your assessed value is $175,000, the result would be $513,648. Your property value must be less than $513k to win an appeal. You can get more details on tax appeals and forms at the Hudson County Tax Board website.
Here is this week’s condo sales report:
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.
- 366 active Hoboken condo units – vs. 366 last week
- 15 DABOs (Deposit Accepted By Owner i.e. under contract) vs. 11 dabos last week
- 7 sold vs. 10 sold
- 32 new listings vs. 30
- 12 price reductions vs 18
- 12 expired listing vs. 5
Studio & 1 Bedroom Hoboken Condos:
10 new listing
- 219 Monroe (mls) listed on Sep 24 $249k; reduced to $239k; to $229k.
- 1208 Washington (mls) listed on Nov 11 for $325k; reduced to $299k.
- 230 Monroe (mls) listed on Jan 25 for $319k; reduced to $299k.
- 1000 Hudson (mls) listed on Feb 28 for $419k; reduced to $399; to $375k.
- 1016 Washington (mls) listed on Feb 23 for $339k.
- 218 Jefferson (mls) listed on Oct 28 for $260k; sold for $253k.
- 1300 Grand (mls) listed on Feb 28 for $425k; sold for $395k.
6 price reductions
136 Total Active 1BRs
Two Bedroom Hoboken Condos:
20 new listings
- 717 Willow listed on Feb 28 for $429k; reduced to $399k.
- 1025 Maxwell (mls) listed on Feb 28 for $825k.
- 1320 Bloomfield (mls) listed on Sep 22 for $465k; reduced to $430k.
- 214 Park (mls) listed on Jun 26 for $530k; reduced to $430k.
- 108 Monroe (mls) listed on Feb 3 for $435k.
- 309 2nd (mls) listed on Sep 13 for $435k; reduced to $420k; to$410k.
- 1125 Maxwell (mls) listed on May 20 for $925k; reduced to $900k; to $875k; to $850k; to $835k.
- 1000 Hudson (mls) listed on Sep 27 for $559k; reduced to $529k.
- 800 Jackson (mls) listed on Feb 28 for $564k;
- 825 Washington (C21) listed on Jan 27 $669k; reduced to $650k.
- 109 Jackson (mls) listed on Dec 28 for $499k; sold for $470k.
- 70 Adams (mls) listed on Nov 2 for $549k; reduced to $540k; sold for $505k.
- 635 6th St.(mls) listed on Dec 8 for $539; sold for $515k.
- 827 Washington (mls) listed on Jan 4 for$400k; sold for $424k.
4 price reductions
192 Total Active 2BRs
Three Bedroom and Larger Hoboken Condos:
2 new listings
- 1500 Washington (mls) listed on Nov 8 for $899k; sold for $860k.
2 price reductions
36 Total Active 3BRs
Hoboken Condo Open Houses
Want to Receive New Listings & Price Reductions Daily?
If you would like to be emailed the new listings and price reductions each weekday in either 1br, 2br or 3br categories just email us at [email protected] letting us know which size(s) you would like and we’ll add you to the daily email list.
For more information you can always contact us at 201 993 9500.
Thanks for reading and, as always, we welcome your comments!