It seems nothing can dwarf the news of 99 Hudson, Jersey City, the lot owned by Chinese developers. This site, directly across from 1 World Trade Center was scheduled to be a 60 story high-rise, but it is now approved to be 95 stories, the tallest building in all of New Jersey. Jersey City is home to seven of the ten tallest buildings in the state.
According to the renderings, 77 Hudson will now be sandwiched between this 760 unit ultra luxury residential building (950 feet tall vs. 1 WTC which is 1368 ft, not including the needle)) and the enormous office tower at 55 Hudson, which is expected to be about as tall at the first Goldman Sachs tower. The good news is that they will be keeping their easterly views of NYC, which has not been the case of many other buildings in downtown Jersey City.
In Hoboken, the sharpest drop in price ($425K) was that of 810 Park Ave, a 20 ft wide multifamily with approved plans to build the top floor. This property was on the auction block last year, and appears to have been cosmetically updated by the new owner. Property records seem to indicate the presence of an oil tank (this block had a contamination a decade or so back, but it was remediated). With the pricing now more in line with fair value, what a wonderful opportunity to customize your own home?
Large units with elevator and parking continue to be super hot. Around town, many boutique buildings are setting new highs in sale prices and units are getting into escrow in under two weeks.
Here are the rest of new properties, in pdf. Pop out to download.
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