2014 Dec 11th

The November Hoboken Condo Sales Results – And They Are Fabulous!

Sales of Hoboken condos are stronger than ever. It’s like Black Friday for the rest of the year. Look at these November numbers! We’re setting records across the board.

Average sale price is over $650k – up 10% over last year. If you happen to be in the market for a 2-bedroom, the average price is over $700k. On a price per square foot basis, we have exceeded $600 in every size category. Days on market is only 30 and inventory is anemic, to say the least. We were under 100 units for sale the other day. I’ve never experienced a market like this in the more than a decade I’ve been selling Hoboken real estate. Here are the stats:


Posted by Lori Turoff | Currently No Comments »

2014 Dec 10th

Update on the Proposed “Hoboken Arts Center” 12-story building at 931 Madison

I didn’t attend, but there was a meeting last week at 901 Madison at which about 40 residents attended, along with several City Council people, Mayor Zimmer, project owner/developer – Rob Grenoble, (he currently owns the Water Music studio at the site) and the architect, John Nastasi. From what I’ve been told, the session was an opportunity for local home owners to voice their many concerns about the project to the council members and the Mayor.  My source tells me that public opinion was extremely negative.

Major concerns voiced by residents included increased traffic, insufficient parking, noise, safety, and the poor planning for the construction of a 12-story building amongst 6-story buildings.  Local owners made it clear that they do support the arts but not this particular project at this particular location, in its proposed form.  Many residents questioned why this application was approved in 2006 to begin with and why now, almost 9 years later, the project isn’t being questioned and the application approval revisited.  Only two of the board members who originally voted to approve the project remain on the board (and they were not at the meeting).  At one point, the developer/owner Grenoble said something to the effect that a random 12-story building “would help the Hoboken skyscape look less like the projects.”  His comment was not well received.

Councilman Peter Cunningham was in attendance, and said that no decisions have been made yet, and nothing has been approved. The subcommittee is only going through the required process when a developer submits a proposal.  Cunningham took down the contact information of all the attendees, and said they would keep us in the loop as the process moves forward.
Many neighbors and residents of the immediate area were unhappy with the proposal and concerned about increased loitering.  (Loitering caused by Performance space?  I’m not sure I get the connection).  Some recently purchased condos at “Tribeca West” at 930 Jefferson, ranging from half a mil to over a million.  From the renderings, it looks like their balconies will have a front row view of the proposed open-air performance space.
I will continue to keep you posted as the story develops.

Meanwhile, tonight at 7pm is the meeting on the development at the NJ Transit Yards on the south end of Hoboken. Go if you can.

Posted by Lori Turoff | Currently 2 Comments »

2014 Dec 10th

The Weekly Wednesday Wrap-Up – Hoboken Residential Sales and Activity for the Week of December 10th, 2014

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  • 116 active Hoboken listings
  • 95 Condo & Co-op listings, compared to 108 last week – THIS IS NUTS!
  • 8 Single-family listings, compared to 9 last week
  • 13 Multi-family listings, compared to 14 last week

This Week’s Residential Property Sales & Activity:

  • 14 DABOs (Deposit Accepted By Owner and Under Contract) vs. 11 last week
  • 30 Sold vs 20 last week
  • 8 New listings vs. 8 last week
  • 3 Price changes vs. 4 last week
  • 4 expired listings vs. 5 last week

Studio & 1-Bedroom Properties

37 Active listings 4 New listings 1 Price change 9 DABOs

  • 307 Monroe St., 1 listed Oct 3 for $269K;
  • 157 14th St., 1L listed Oct 15 for $370K;
  • 326 Madison St., 2 listed Nov 24 for $375K;
  • 650 2nd St., 4K listed Nov 5 for $450K;
  • 606-608 Adams St., 7 listed Dec 1 for $469K;
  • 1301 Adams St., 412 listed Dec 1 for $525K;
  • 1300 Grand St., 314 listed Nov 3 for $578K; reduced Nov 20 to $569K;
  • 1500 Hudson St., 3C listed Sept 4 for $569K;
  • 1450 Washington  St., 418 listed Oct 15 for $669K; reduced Oct 31 to $659K;

15 Sold

  • 107 Harrison St., 2 listed Dec 10 for $215K; reduced Mar 8 to $210K; sold for $210K;
  • 532 Adams St., 1L listed July 24 for $260K; reduced Sept 4 to $255K; sold for $240K;
  • 307 Monroe St., 5 listed May 22 for $289K; reduced Aug 11 to $279K; reduced Sept 29 to $274K; reduced Oct 3 to $267K; sold for $262K;
  • 422 Madison St., 5 listed Sept 2 for $299K; sold for $290K;
  • 813 Willow Ave., 4N listed Aug 19 for $335K; sold for $335K;
  • 333 Monroe St., 6(4B) listed Mar 10 for $375K; sold for $350K;
  • 224 Jefferson St., 4R listed Sept 3 for $359K; sold for $360K;
  • 88 Park Ave., 3N listed Sept 23 for $369K; sold for $380K;
  • 910 Willow Ave., 3 listed Sept 29 for $409K; sold for $393K
  • 101 Willow Ave., 5B listed Aug 12 for $415K; reduced Sept 12 to $405K; sold for $395K;
  • 41-43 1st St., 1G listed Nov 19, 2003 for $400K; sold for $401K
  • 91 Adams St., 3 listed Jun 5 for $439K; reduced Oct 1 to $415K; sold for $403K;
  • 117 Bloomfield St., 2B listed Sept 24 for $425K; sold for $435K;
  • 68 Park Ave., 8 listed Aug 19 for $435K; sold for $435K;
  • 812 Grand St., 212 listed Oct 3 for $445K; sold for $460K;

2-Bedroom Properties

46 Active listings 3 New listings 2 Price changes 3 DABOs

  • 80 Madison St., 5 listed Dec 2 for $420K;
  • 380 Newark St., 2C listed Dec 1 for $549K;
  • 1500 Washington St., 11F listed Nov 3 for $980K;
10 Sold
  • 519 Willow Ave., 7 listed Aug 1 for $350K; sold for $225K;
  • 554 Observer Hghwy., 3R listed July 7 for $379K; reduced Sept 2 to $370K; sold for $355K;
  • 221 Clinton St., 2R listed Sept 23 for $469K; sold for $480K;
  • 118 Clinton St., 10 listed Sept 15 for $509K; sold for $504K;
  • 201 Garden St., 1 listed Oct 3 for $539K; sold for $530K;
  • 208 Park Ave., 1R listed Oct 15 for $549K; sold for $545K;
  • 820 Hudson St., C5 listed Sept 24 for $749K; sold for $749K;
  • 1331 Grand St., 206 listed Sept 24 for $775K; sold for $783K;
  • 89-91 Jefferson St., 4B listed Oct 3 for $869K; sold for $925K;
  • 1025 Maxwell Ln., 1110 listed Sept 3 for $1.250M; sold for $1.230M;

3-Bedroom & Larger Properties

12 Active listings 1 New listing 0 Price changes 13 Multi-Family Active listings 8 Single-Family Active listings 2 DABOs

  • 80 Madison St., 2 listed Aug 20 for $575K; reduced Sept 17 to $565K; reduced Oct 9 to $558K;
  • 130 Park Ave., PHB listed Oct 24 for $1.495M;


Posted by Nathan Turoff | Currently No Comments »

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