Should Developers Get Variances for 12-Story Rental Buildings in Hoboken?
Categories: Hoboken Condos, Hoboken New Construction
VARIANCE DENIED!!!
There is a Hoboken zoning board meeting next Tuesday night, June 17th, to decide if a number of variances should be granted for a project proposed for 1300 Jefferson Street.
The complex would purportedly include a bowling alley. I’m not a bowler but I do love Brooklyn Bowl (in Brooklyn & now Las Vegas) and Rock ‘n Bowl (in New Orleans.) These venues offer live music in a fun atmosphere along with bowling lanes, superb food and beer. Have the developers ever been to these places? With the void created by the departure of Maxwell’s, I predict that type of music venue would be a huge success in Hoboken. If just an ordinary bowling alley – meh. The details on the 1300 Jefferson web site are a bit sketchy and contain many typos (which does not fill me with confidence.)
What really strikes me about the proposal, however are two things. First, are these rental buildings or condos? It is not clear from the website. People should ask themselves, do we, as a community, want to add additional “luxury” rental units to our housing stock? Are rental properties more likely to contribute to the future growth and improvement of the city in a positive direction? I find that “luxury rental” units tend to attract young singles, who share these properties with room-mates and, after a year or two, move on. The renters tend not to see Hoboken as their “home” and they don’t typically vote here. They have little vested interest in local affairs. Condo owners, on the other hand, have a significant investment at stake in Hoboken. They pay Hoboken property taxes. In my experience, they care more about Hoboken and the direction of its future. Would you prefer that this building be rentals or condos?
Second, the prevailing building height on the west side of town is 6 stories. This building is to be 12 stories, if the developer has it his way. The “proposed recreational” fields pictured on the diagrams are just that – merely proposed. There is no assurance that these surrounding lots will not also become 12 story rental apartments. Do you think Hoboken should allow 12 story apartments to be built in the part of town most subject to flooding? What about parking? Traffic? Density? What affect will 12 story buildings have on the surrounding buildings? It is interesting that the diagrams on the 1300 Jefferson website show the building drawn in a void. It almost looks as if the building is situated on a deserted island. I would like to see it drawn in the context of reality. Wouldn’t you?
Then there is the actual design of the building. While everyone is entitled to his or her opinion and taste is subjective, this architectural firm is known for designs that are avant-garde. Do we want such disparate structures so predominantly featured in our city? Would a more traditional design be more appropriate? I’d like to see something classic – along the lines of 15 Central Park West. Wishful thinking, I know, that Robert Stern would work in Hoboken. Do you think the proposed building is attractive? What are those trees in the windows? Are they also merely proposed and drawn in to make the building look greener?
If you are interested in the future of Hoboken I urge you to attend the zoning meeting on next Tuesday night and make your views heard.
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The May Hoboken Condo Sales Results
Categories: For Buyers, For Sellers, Market Analysis, monthly results
Sales exploded in May. There is just no other word for it. Here are a few of the highlights:
- Prices are up 10% this month over the month of May a year ago.
- Hoboken condos are selling for more than the list price, on average.
- Price per square foot is nearly $600.
- There is fewer than 2 months inventory – sign of a strong seller’s market.
- The average 2-bedroom now sells for over $700k.
- There are 20% fewer properties for sale now than there were a year ago.
Here are the May numbers:
There is not a single sign that this rise in activity and prices is going to end any time soon. I hear buyers tell me “I’m not in a rush so I’m just going to wait for the market to come back down”. I laugh to myself that I will likely be retired by the time that happens.
Every buyer says to me “I don’t want to be involved in a bidding war”. I say, then you’re not going to buy a premier property in Hoboken. You need an exceptionally qualified agent to navigate these waters; to show you value; explain the strategies; provide guidance on how to make the strongest offer; win the bid and not overpay. You need an agent who will work with you as a true buyer’s agent – not a transaction broker (fancy name for salesperson). Try to find an agent with more than a decade of experience in Hoboken condo sales alone and negotiating skills second to none. Wait, that would be me. If you’d like a private consultation, please email me at [email protected]
Enjoy the weekend!
Lori
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The Hoboken & Downtown JC Open House Google Map for Saturday, June 7th & Sunday, June 8th, 2014
Categories: For Buyers, Hoboken Brownstones, Hoboken Condos, Hoboken New Construction, Jersey City Condos, Neighborhoods, Open House
The Original and Best Open House Google Map!
Courtesy of the Turoff Realty Team
No need to register! No form to fill out!
Just click on the map below to see every Open House in Hoboken this weekend:
Click HERE to see the Downtown Jersey City Open House Map
When you look at the maps, place markers are color coded:
- Studios & 1BRs are red
- 2BRs are green
- 3BRs & Bigger are yellow
- New listings are marked with a Push Pin icon (in the same color scheme.)
Click the “Address”, “Price” “Bed” or “Details” columns to sort the list of open houses in ascending or descending order.
Click on the location marker for:
- open house date
- time
- unit size
- asking price
- link to all the info found on the MLS and more (from ourHobokensBestHomes.com IDX feed.)
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