New Jersey real estate survives by what happens with New York City real estate:
- If the NYC real estate market is horrible, New Jersey real estate is worse off
- If the NYC market is great then New Jersey fares better…but as we can see not nearly as well
- If the NYC market is flying off of the charts, like it has been for the past 4-5 years, then NJ will tend to do better, but we can get killed as well…as is what is happening with our Bergen County luxury market…where people with money are investing in NYC rather than in New Jersey where the prices are substantially lower.
- Global investors are investing wildly in Manhattan real estate, yet there is basically no global market in New Jersey. Our market is exclusively local
While real estate developers are salivating and are incredibly jealous at what is happening across the Husdsn River we have a few pockets of action on this side of the Hudson River…like Hoboken, Jersey City, Edgewater, Fort Lee and Weehawken. These “up and coming towns” have been trying to transform themselves since the 1980’s. Thirty years later it’s finally happening.
In an odd twist for a local New Jersey real estate blog, I decided to provide a list of the new rental and condo buildings that are being built or are vbing rented or sold in New York City.
Why would I “promote” the competition?
It’s simple. I’m providing info that buyers and renters would find for themselves if they were interested in NYC real estate.
- The Printing House
- 301 East 50
- 400 Park Avenue South
- Sixty East Eighty Sixth
- 498 West End Avenue
- 100 West
- The Adeline
- 388 Bridge
- Harbor’s Edge
- 15 Hubert
- 19 Park Place
- 540 West
- 51 Jay
- Aperture 538
- 50 United Nations Plaza
- New York By Gehry