2014 Oct 8th

The September Hoboken Condo Sales Results

Technical problem solved.  Here are the September numbers.  Up, up and away!

prices

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Posted by Lori Turoff | Currently 7 Comments »

2014 Oct 7th

The Weekly Wednesday Wrap-Up – Hoboken Residential Sales and Activity for the Week of October 8th, 2014

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As of October 8th, 2014:

  • 189 active Hoboken listings
  • 165 Condo & Co-op listings, compared to 171 last week
  • 9 Single-family listings, compared to 9 last week
  • 15 Multi-family listings, compared to 13 last week

This Week’s Residential Property Sales & Activity:

  • 16 DABOs (Deposit Accepted By Owner and Under Contract) vs. 16 last week
  • 23 Sold vs 23 last week
  • 17 New listings vs. 27 last week
  • 14 Price changes vs. 11 last week
  • 1 expired listing vs. 0 last week

 

Studio & 1-Bedroom Properties

64 Active listings

9 New listings

6 Price changes

6 DABOs

  • 88 Park Ave., 3N listed Sept 23 for $369K;
  • 218 Jefferson St., G listed July 17 for $415K;
  • 818 Willow Ave., 2L listed Sept 29 for $435K;
  • 1100 Adams St., 309 listed Aug 19 for $525K; reduced Sept 22 to $499K;
  • 700 1st St., 17T listed July 1 for $650K; reduced Aug 8 to $639K;
  • 1450 Washington St., 906 lsited Sept 24 for $679K;

7 Sold

  • 79 Garden St., 3 listed June 13 for $319K; reduced June 19 to $304K; reduced July 23 to $299K; sold for $285K;
  • 139 Bloomfield St., 4 listed July 24 for $295K; sold for $299K;
  • 81 Grand St., 4A listed June 9 for $415K; reduced July 7 to $395K; sold for $384K;
  • 123 Willow Ave., 4 listed June 1 for $415K; reduced Jun 27 to $399K; sold for $395K;
  • 1500 Washington St., 10T listed July 9 for $500K; sold for $480K;
  • 1100 Maxwell Ln, 427 listed July 31 for $560K; sold for $554K;
  • 1100 Maxwell Ln., 605 listed Aug 1 for $845K; sold for $842K;

 

2-Bedroom Properties

79 Active listings

5 New listings

6 Price changes

8 DABOs

  • 221 Clinton St., 2R listed Sept 23 for $469K;
  • 1011 Willow Ave., 2 listed Sept 30 for $489K;
  • 807 Garden St., 7 listed Sept 25 for $499K;
  • 300 Park Ave., 3 listed Sept 4 for $525K;
  • 204-206 Jackson St., 5 listed Sept 8 for $615K;
  • 1100 Adams St., 201 listed Sept 26 for $629K;
  • 1100 Maxwell Ln., 703 listed Aug 19 for $1.20M;
  • 350 7th St., 5C listed Sept 3 for $1.975M;
12 Sold
  • 76 Jackson St., 3R listed July 22 for $429K; sold for $437K;
  • 627 Madison St., B listed June 25 for $489K; sold for $475K;
  • 324 Garden St., 3 listed Aug 5 for $485K; sold for $516K;
  • 88 Monroe St., 1 listed July 23 for $550K; sold for $550K;
  • 510 Monroe St., 205 listed April 14 for $560K; sold for $560K;
  • 700 Bloomfield St., Prlr listed July 7 for $600K; sold for $610K;
  • 1300 Grand St., 606 listed July 2 for $675K; sold for $680K;
  • 727 Monroe St., 405 listed July 14 for $699K; sold for $700K;
  • 729 Madison St., 4H listed July 22 for $750K; sold for $713K;
  • 1100 Maxwell Ln., 313 listed Aug 1 for $885K; sold for $885K;
  • 1100 Maxwell Ln., 504 listed June 24 for $1.149M; sold for $1.140M;
  • 1100 Maxwell Ln., 522 listed Aug 1 for $1.090M; sold for $1.182M;

 

3-Bedroom & Larger Properties

22 Active listings

3 New listings

2 Price changes

15 Multi-Family Active listings

9 Single-Family Active listings

2 DABOs

  • 212 Adams St., 4 listed Sept 9 for $739K;
  • 208 Newark St., listed Sept 8 for $2.50M;

4 sold

Posted by Nathan Turoff | Currently No Comments »

2014 Oct 7th

AirBnB is an Easy Way for Hoboken Condo Owners to Make a Buck. But is it Good for Hoboken?

AirBnB has become quite a phenomena.  Many folks took advantage of the opportunity to use AirBnB to rent out their Hoboken condo or brownstone during the SuperBowl for thousands a week.  The AirBnB movement is growing, despite opposition from New York City government and the hotel industry.  Municipalities like New York are against it, primarily, because of the lack of payment of hotel tax to the City on these transactions.

If you look at the AirBnB site, you’ll find many accommodations available in Hoboken.  Some are in Hoboken condos, others in rental buildings like The Shipyard.  It’s easy for me to identify the buildings just from the photos.   I wonder if the Shipyard management knows about it.  Short-term rentals may seem like a great way to recoup some extra money when you’re going to be on vacation, or out of town on business, but is it?

First of all, most condo associations prohibit short-term rentals right in the Master Deeds and By-Laws.  Condo boards ought to be thinking about whether they want to enforce these provisions with penalties for violations or if they wish to put such restrictions into place if they don’t already exist.  Some things for condo boards to consider:

Besides these issues, there have been instances where the AirBnB “guest” has tried to assert rights as “tenant” and has refused to vacate the host property after the AirBnB reservation expired.  Remember, under New Jersey law, tenants have extreme protection from eviction.  You might think you are entitled to your own condo when the week us up, but a guest that won’t leave may be considered a tenant under the law and have the right to stay!

Personally, the idea of sleeping in someone else’s bed and vacationing in the midst of their personal belongings sort of grosses me out.  I’ll take a room at the W over that any day.  Of course, there is a price difference.  Do you think you’d want your neighbor to rent out their apartment to travelers?  Love to hear your thoughts.

Posted by Lori Turoff | Currently 6 Comments »

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