Upper Grand observations

8/8/2008:

As you might already know, there have been quite a few entries regarding URSA/Tarragon’s Upper Grand residential buildings on Hoboken411 this week. Mainly because I was bringing the real estate entries in the directory as current as I can possibly make it.

In the process, I observed a few things worth mentioning on their own.

Exaggerated and inaccurate graphics

hoboken-upper-grand-map-rendering-gif.gif

The main Upper Grand website has this fancy graphic supposedly detailing where the various projects are located. As you can see in the image below, it’s not an accurate representation of Hoboken OR where the buildings are situated.

By looking at it, you might be led to believe that it’s SO CLOSE to being almost waterfront living! Oh, but they conveniently FORGOT to include 10 north/south streets! Are they psychic, and eventually Hoboken will be so flooded that Clinton Street will be the “new Washington Street?”

Future intentions and plans

I extrapolated the rendering below from the “e-brochure” for the 1000 Jefferson project.

This image includes many “proposed” or “potential” areas of development that haven’t even been approved or started yet. Such as:

  1. This great baseball field
  2. These great tennis courts
  3. This green area north of Hoboken on the Weehawken side
  4. The community pool!
  5. A building in the currently empty lot on 12th and Clinton Streets
  6. A development on 11th and Grand that was at one point subject to eminent domain (and never approved)

(CLICK TO ENLARGE IMAGE)

nw-hoboken-proposed-development-renderings-ursa-tarragon.jpg

Do they know something we don’t? Have backroom deals already been made?

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24 Comments on "Upper Grand observations"


hoboken hammer
Member
hoboken hammer
8 years 1 month ago

Actually I believe $530/sq ft is the average for the 2nd quarter ’08 in Hoboken. You could search on the net for real estate statistics for Hoboken/Hudson county. As that is an average that is across 1beds, 2beds, etc… Maxwell Place and west side all in same bucket. So that being said – it pretty much depends on the building/area. I read that 1bedrooms on average dropped 9% from last year while 2beds prices were up like 9%. So its all relative.

There’s a recent article in the NY Times: http://www.nytimes.com/2008/06/22/realestate/22njzo.html

Tiger
Member
Tiger
8 years 1 month ago

Price per Sq ft is very misleading in Hoboken. I’ve shopped for a condo for over 6 months and I’ve seen so many variations in $ / sq ft. Generally, the bigger the condo the lower the $ / sq ft. 1 Bedrooms seem to be the most expensive when it comes to that, and of course the building and condition of the unit makes all the difference.

homeworld
Member
8 years 1 month ago

[quote comment=”98382″]Out of curiosity, what’s the average price per square foot you’d pay? I know different areas will vary, but if you’re downtown (east of Clinton and south of 3rd), midtown (east of Clinton and south of 7th) or uptown (8th -whatever, east of Clinton).

I randomly picked Clinton, if you have a better line, use it.

I don’t think I’d go above 530 anywhere right now, and uptown I’d be willing to do 485 or so. BUT, I am not in the market, just window shopping, so I realize I may be WAYYYYY off.[/quote]

I paid $340/sf for ‘midtown.’

Friedupright
Member
Friedupright
8 years 1 month ago
[quote comment=”98385″]I do agree that the ads and pictures are out of control. However – i do see the benefits of buying in the NW corner – developers are building, more and more people are moving back to the area which should bring retail. There does need to be a plan to fix the streets, but all in all – all signs seem to lean towards positive changes in that part of town.[/quote] Can’t really agree witht the comment “should bring retail.” A coffee shop, dry cleaner, liquor store, nail salon and a realor – probably. Most of these developers don’t provide proper space for retail, and certainly no incentive, unless it is east of Washington. The bottom floor of most buildings are parking lots. “Lovely” to look at but nothing to buy. Hoboken needs to have a plan to create a “retail zone” in this area if you are actually going to have a reason to go back there and shop. If you put in an open-air market and 20-30 “affordable” retail spaces then you can possibly create an area where people might want to go but no one is going to go back there for a store here and a store there especially if they can find an identical store near their address. Imagine a year around farmer’s market. I would then think about going back there to buy fresh produce. Hey, if they can do it in NYC, we can do it here. Retail breeds retail, like… Read more »
RebeccaL
Member
RebeccaL
8 years 1 month ago

Real estate agent and developers are all big liars. When my former landlords put this building up for sale the real estate agents who came through here made up anything they thought would sell this building to tell their clients and would say it right in front of me, knowing I knew better. Only one agent asked me questions about the condition of the building on behalf of their client (I had been here 14 years by then and was in a position to know). Everyone else wanted to cover up obvious damage with lies and excuses. (So there’s one exception and if I need an agent I’m going to Halliburton.) A developer bought our building and after taking it condo put out a brochure prominently stating “Parking Possibilities”. It’s a 4 story building with one unit per floor, no parking. And the block is hard to find a spot on most of the time due to a school and several apartment buildings with no parking. I guess it’s possible you’ll find a spot if you get home early enough.

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