2014 Oct 9th

HOBOKEN YARDS REDEVELOPMENT PLAN & WASHINGTON STREET REDESIGN PRESENTED AT SPECIAL CITY COUNCIL MEETING

The Hoboken City Council held a special meeting on Wednesday, October 8, 2014 at 7:30pm for the presentation of the Hoboken Yards Redevelopment Plan and the Washington Street redesign conceptual plan. No action will be taken by the Council at the meeting.

Following an extensive community-driven design process that included multiple public meetings and stakeholder groups, the City conducted an updated economic analysis and incorporated post-Sandy flood mitigation measures as well as feedback from the community and the City Council in creating the revisions to the City of Hoboken’s proposed Redevelopment Plan.

In 2012, the City of Hoboken created a draft plan with 2 million square feet of development. The plan being introduced is a revision to that plan and calls for up to 2.3 million square feet of development with LEED Gold incentives.

“There’s been a lot of discussion about this plan over the years,” said Mayor Dawn Zimmer. “In 2008, a prior Administration and NJ Transit proposed a 9 million square foot project featuring a 70-story tower. I strongly opposed that project because it was wrong for Hoboken. Our current proposal is an example of the kind of balanced, smart development that the people of Hoboken both want and deserve.”

The City’s revised plan calls for a baseline 2.176 million square foot mixed-use project (125,000 additional square feet of commercial space permitted if the commercial space is designed to LEED Gold standard), two-thirds of it for office space and one-quarter for residential space, with the remainder for retail space. Following Superstorm Sandy and after receiving NJ Transit’s confidential pro forma, the City determined there would be a need for some additional costs for flood damage prevention measures, among other issues. For this to be economically viable, additional office/commercial density was provided, however the residential square footage remains the same as in the draft 2012 plan.

The plan would create a true mixed-use project that will significantly diversify the local economy, support local businesses, and revitalize the Hoboken Terminal area and Observer Highway area – an essential gateway to Hoboken. It includes indoor public space, minimum requirements for 3-bedroom, family-oriented housing units, a variety of public spaces, including a pedestrian plaza at Hudson Place and Warrington Plaza and bicycle paths connecting a redesigned Observer Boulevard to the waterfront.

Since the prior draft of the plan was developed before Superstorm Sandy, the revised plan includes various flood mitigation measures including requiring the separation of the sanitary sewer and storm sewer, sewer pumps to serve the property, compliance with the City’s Flood Damage Prevention ordinance, and encouraging the construction of storm surge protection at Warrington Plaza.

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Posted by Lori Turoff | Currently No Comments »

2014 Oct 8th

The September Hoboken Condo Sales Results

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

prices

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 »

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