The Weekly Wednesday Wrap-Up – Hoboken Residential Sales and Activity for the Week of December 17th, 2014
Categories: For Buyers, For Sellers, Hoboken Brownstones, Hoboken Condos, Hoboken New Construction, Market Analysis, Weekly Wednesday Wrap Up
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As of December 17th, 2014:
- 111 active Hoboken listings
- 91 Condo & Co-op listings, compared to 95 last week
- 7 Single-family listings, compared to 8 last week
- 13 Multi-family listings, compared to 13 last week
This Week’s Residential Property Sales & Activity:
- 6 DABOs (Deposit Accepted By Owner and Under Contract) vs. 14 last week
- 33 Sold vs 30 last week
- 12 New listings vs. 8 last week
- 4 Price changes vs. 3 last week
- 0 expired listings vs. 4 last week
Studio & 1-Bedroom Properties
35 Active listings
6 New listings
2 Price changes
2 DABOs
- 231 Grand St., 1L listed Nov 5 for $318K;
- 826 Washington St., Garden listed Sept 16 for $350K; reduced Oct 6 to $339K;
12 Sold
- 128 Garden St., B listed Feb 25 for $375K; reduced Mar 9 to $100K; sold for $225K;
- 423 Jefferson St., 9 listed Oct 10 for $309K; sold for $318K;
- 227 Monroe St., 2L listed Mar 3 for $350K; reduced May 1 to $325K; sold for $318K;
- 132 Jackson St., 2RN listed Feb 28 for $379K; reduced Mar 31 to $369K; reduced Jun 17 to $349K; sold for $338K;
- 315 Willow Ave., 1 listed Oct 6 for $359K; sold for $381K;
- 551 Observer Hghwy., 11H listed Sept 2 for $420K; sold for $408K;
- 91 Adams St., 1 listed Sept 5 for $449K; reduced Sept 16 to $425K; sold for $413K;
- 818 Jefferson St., 1B listed Sept 15 for $425K; sold for $415K;
- 659 1st St., 303 listed Oct 1 for $475K; sold for $477K;
- 1500 Washington St., 3T listed Sept 30 for $489K; sold for $480K;
- 1450 Washington St., 906 listed Sept 24 for $679K; sold for $700K;
- 1100 Maxwell Ln., 616 listed Aug 6 for $850K; reduced Sept 10 to $799K; reduced Oct 20 to $769K; sold for $741K;
2-Bedroom Properties
44 Active listings
4 New listings
2 Price changes
3 DABOs
- 610 Newark St., 9A listed Nov 18 for $625K;
- 610 Newark St., 7D listed Dec 1 for $646K;
- 1200 Grand St., 420 listed Sept 17 for $750K;
- 906 Washington St., 2 listed Oct 11 for $479K; sold for $472K;
- 1007 Willow Ave., 4 listed Oct 15 for $525K; sold for $536K;
- 518-520 Monroe St., 2B listed May 27 for $595K; reduced July 30 to $585K; reduced Aug 2 to $580K; reduced Sept 12 to $560K; sold for $545K;
- 415 Newark St., 8C listed Sept 3 for $559K; sold for $565K;
- 729 Madison St., 3A listed Aug 29 for $625K; sold for $620K;
- 625 Jefferson St., 501 listed Oct 1 for $629K; sold for $622K;
- 700 1st St., 15P listed April 8 for $615K; sold for $630K;
- 1100 Adams St., 201 listed Sept 26 for $629K; sold for $635K;
- 1300 Grand St., 311 listed Sept 9 for $700K; sold for $700K;
- 1100 Adams St., 508 listed Oct 10 for $719K; sold for $730K;
- 325 Willow Ave,. 2B listed Sept 4 for $799K; sold for $775K;
- 1450 Washington St., 311 listed Sept 17 for $949K; reduced Sept 29 to $920K; reduced Oct 13 to $900K; sold for $873K;
- 2 Constitution Ct., 914 listed Sept 12 for $935K; reduced Oct 3 to $890K; sold for $885K;
- 601 Observer Hghwy., 302 listed Oct 16 for $899K; sold for $950K;
- 1100 Maxwell Ln., 521 listed Sept 9 for $1.049M; reduced Sept 21 to $999K; sold for $968K;
3-Bedroom & Larger Properties
12 Active listings
2 New listings
2 Price changes
13 Multi-Family Active listings
7 Single-Family Active listings
1 DABO
- 154 2nd St., listed July 14 for $1.149M; reduced Aug 1 to $1.118M; reduced Sept 19 to $999K;
6 sold
- 501 Adams St., 1I listed Oct 17 for $735K; sold for $735K;
- 456 9th St., 4O listed Oct 1 for $914K; sold for $970K;
- 306 6th St., 4 listed Oct 14 for $1.199M; sold for $1.255M;
- 628 Bloomfield St., listed Sept 5 for $1.325M; sold for $1.40M;
- 208 Newark St., listed Sept 8 for $2.50M; sold for $2.40M;
- 727 Bloomfield St., listed Nov 11 for $2.499M; sold for $2.550M;
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Hoboken Terminal and Rail Yard Development Update
Categories: Hoboken New Construction
There was a City Council meeting the other night about the proposed development by NJ Transit of the southern edge of Hoboken. Much has been written about the proposal, which can be found on the Hoboken City website, more here on the NJ Transit and, their partner LCOR site and here in a detailed history of transit hubs, intelligently authored by Stewart Mader. The meeting itself was broadcast live over the internet and was rather interesting to watch.
Members of the public spoke at the meeting voicing concerns mainly about traffic, flooding and the proposed economics of the project. Some emphasized the need to preserve historic sites. Others mentioned and questioned how the development would impact the wallets of Hoboken residents with regard to property taxes. Still others pointed out the lack of housing and care facilities for the Hoboken’s aging. Many valuable points were made and a variety of views were presented. Most of the speakers seem to think that smaller towers are better than tall ones. Yes, these are all issues that ought to be considered. Yes, if NJ Transit is going to benefit financially, there should be some financial benefit for the City of Hoboken as well.
Coincidently, Justin Davidson, the Architecture critic for New York Magazine, recently wrote a piece about the proliferation of 1,000-foot towers in Manhattan. I found it very informative and relevant to this issue. Davidson quoted Louis Sullivan, who back in 1896 wrote a piece called The Tall Office Building Artistically Considered, and noted that there are challenges to designing a tall building. Sullivan’s conclusion, however, might be surprising to many. He said: “It must be tall, every inch of it tall.”
All of which has made me realize that while there are valid concerns about any large development proposal, my issue was not with the building height. Yes, traffic problems need to be addressed and tax burdens should be examined and flood waters must abated. But traffic and flooding should be addressed regardless of whether or in what form this project goes forward. Perhaps if the traffic and flooding problems were solved, new development wouldn’t make them worse. Maybe if the development were done in such a way as to improve access to mass transit, encourage biking and make pedestrians feel safer, fewer people would commute to and from Hoboken (or cut through Hoboken) by car and traffic might actually improve.
My real concern about this proposal is that when they build (and they will build, oh yes) they build something exceptional and beautiful. Forcing NJ Transit to keep their structures below a maximum height just for the sake of height limits will result in an uninterrupted wall of boring, massive boxes built out to the maximum lot lines. Picture 333 River Street ad nauseam, or the Trump buildings along the West Side Highway. Yet, I walk around downtown Toronto or Chicago and look up at their new towers in awe of the beautiful skyscrapers popping up everywhere. Sleek, sexy, sinuous buildings that add to the skyline’s interest and appeal. If only we could have something truly spectacular instead of mundane. I, personally, have no objection to development or tall buildings – just to mediocrity. Why is there not a competition for the design of this project? The chance to have great buildings along Observer “Boulevard”, as it is supposed to be renamed, would be so important to creating an identity for Hoboken and a beautiful point of entry into the City.
One final point I find important to make. If the proposal calls for 30% of the buildings to be residential and only 20% of that to be 3-bedroom size apartments, that is simply inadequate to satisfy Hoboken’s demand for larger living spaces. If any developer were truly committed to creating and encouraging lasting community, they would build more large units and they would be condos, not rentals.
Every week, I see new listings posted the our MLS where some realtor uses a photo of the ugly, green train trestle with “Hoboken” painted on it. What else are they going to use? The Empire State Building clearly says “New York City” but there is no real, iconic building that says “Hoboken”. Hoboken may not be New York City but it is a great little city and deserves meaningful architecture.
Just my two cents.
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The Hoboken & Downtown JC Open House Google Map for Saturday, December 13th & Sunday, December 14th, 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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