Hoboken Short Sales UPDATED: 1/12
We are receiving numerous inquiries on Short sales in Hoboken. A lot of questions we get are whether a short sale makes for a great deal. In most cases, most likely the answer is yes. However, due to the number of short sales in Hoboken, which isn’t very many, banks are more reluctant to bargain below current market value. Similar to where an auction house attracts frenzies with the word “AUCTION”, the term “SHORT SALE” has the relatively the same effect.
Let’s see if I am right or wrong. Below are all of the short sales that SOLD in Hoboken during 2009. Continue below to see all Hoboken short sales for sale today.
1st & Madison Condo: Listed for $239,000 and sold for $220,000. Condo was 453 sq ft, which equates to $485 per square foot. That value is about right in line with that area. No substantial bargain there.
2nd & Grand Condo: Listed at $299,000 and sold for $232,500. At 670 square feet, price per square foot was $347.
12th & Washington: Listed at $335,000 and sold for $320,000. At 733 sq. ft, the p/s/f was $436.
2 Constitution Ct: Listed at $399,000 and sold or $400,000. At 727 sq. ft, the p/s/f was $550
Hoboken Grande: Listed at $419,000 and sold for $425,000. At 970 sq. ft, the p/s/f was $438.
Sky Club: Listed at $450,000 and sold for $455,000. At 1212 sq. ft, the p/s/f was $371.
Sky Club: Listed at $499,000 and sold for $483,000. At 1331 sq. ft, the p/s/f was $374
The Colombus: Listed at $475,000 and sold for $475,000. At 1300 sq. ft, the p/s/f was $365.
Based on those sales figures, most are pretty much in line with the market. For instance, today there are 11 active listings at the Sky Club with one being a short sale. Almost 75% of the listings in Sky Club hover around the mid to high $300,000 mark. So if you consider short sales to be indicative of a good deal, might want to check out Sky Club. Give us a call for our opinion on other buildings that could provide a great bargain right now.
__________________________See Below for Short Sale availability in Hoboken__________________
The number of short sales in Hoboken NJ has risen from 6 to 13 in just a couple of weeks. Remember, all short sale buyers must be willing to stay patient as some banks take as long as 5 months to make a decision on an offer, although recently, banks have picked up the pace and we are seeing 60 day turnarounds. Although we will likely see an increase in shortsales, don’t expect the current trend of sales to slow. Sales activity is up, and the new approval of 1,600 local Wall Street jobs will not result in a slow down. So without further ado, the current short sales are as follow: Contact Us for additional details and/or showings
Hudson Tea Building: 3 bed 3 bath condo with 1640 square feet and monthly HOA dues of $795. This is a huge condo in a great building and the price is under $875,000, roughly $530 per square foot, less than comparable active condos on the market.
Hudson Tea Building: 2 Bed 2 Bath with over 1,300 square feet. Monthly HOA dues of $661. Priced at $850,000 or above $600 per square foot, there may be some negotiation rooms as the “Days On Market” has exceeded 160 days.
Hudson Tea Building: 2 Bed 2 Bath condo with over 1150 square feet. Priced at $659,000 or $570 per square foot. Monthly HOA dues of $562. Currently 180 Days On Market.
Jackson St & 2nd: 2 Bed 2 Bath with 1360 Square Feet. Priced at $539,000 or $396 per square foot. Monthly dues of $240. Built in 2003. Private terrace, master suite w/ jacuzzi, washer/dryer, assigned parking, and just steps to the Light Rail.
Garden St. & 5th: 2 Bed 2 Bath with 1278 Square Feet. Priced at $530,000 or $414 per square foot. Monthly dues of $130 and taxes are $7164. Hardwood floors throughout, kitchen w/ stainless steel, maple cabinets, and granite counters. Central air and heat. Washer/dryer in unit. Master bath w/ jacuzzi. Deeded outdoor yard.
Harrison & 1st St: 2 Bed 2 Bath and 1,265 square feet. Priced at $519,900. Price currently approved by bank. Manhattan views, brazilian cherrywood floors, granite, split bedrooms, washer/dryer in unit. Building offers rooftop fitness center w/ juice bar. Shuttle to PATH and retail on site.
1st & Jackson: 2 Bed 2 Bath with 1,500 square feet. Priced at $425,000. Private elevator and great floorplan layout. Upgraded kitchen. Tile flooring, granite counters and new cabinets. Bedroom offers deck, jacuzzi, tub, and California closets. Hardwood flooring and recessed lighting throughout.
2 Constitution Ct: 1 Bed 1 Bath with 727 Square Feet. Priced at $399,000. Located on 10th floor with views of NYC. 24/7 Doorman, on site garage parking for a fee, outdoor pool, fitness center, rooftop courtyard, children play area, Ferry to NYC.
Willow & 1st: 1 Bed 1 Bath with 613 Square Feet. Priced at $329,000. Renovated kitchen with granite counters, Stainless steel appliances and custom cabinets.
Grand & 8th: 1 Bed 1 Bath with 550 Square Feet. Priced at $248,000. Newer appliances, hardwood floors. Allows pets.
These are currently the short sales available in Hoboken. Recently, short sales have gone quickly so if you are interested in seeing any of these units, it is important to act fast. Contact Us to set up a showing on any of these units. We are general short sale experts so rest assured that your offer will be evaluated by the bank efficiently with full package ready to go, a free service NJREG provides.
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