The Cliffs Lofts
8/12/2008 Update:
Boy, it’s been quite a while (2006) since this entry was updated.
But in case you didn’t know, these “luxury condos” that were built in the oddest of locations on the edge of the Hoboken’s SW border, are now RENTALS. Testament that the real estate market is doing fine, right? Do you think they switch them to distort real estate statistics?
SEE OLD UPDATES AFTER THE JUMP, INCLUDING VIDEO!
12/27/2006:
This isn’t in Hoboken, but rather a hair across the border in Jersey City. However, this is relevant to the ongoing SW Parks re-development plan because of its close proximity.
120+ units, more foot and vehicular traffic, it’s likely that some kind of impact will be felt in Hoboken. Puny studios start close to $350k and go up to 1600sq. ft. units closer to $1MM. As always, the developers website makes the place look ideal. Plus phrases like “The Cliffs are at the center of everything” and “There are beautiful views of Sinatra Park” really make me want to live there. In the land of perpetual fabulous sunrises, Pacific sunsets and never-ending blue skies, life is most certainly perfect! I’m welling up as I type.
Hey, it’s better than having dumpy condemned buildings or polluting industrial plants. And if the parks plan goes even partially like the residents want, you never know! What do you think of this new building? Would you live there?
Here’s the pretty animation:
overlooking Hoboken
Description – Condominiums coming early 2007
Services – 124 Units
Website 1 – www.manhattanplacerealty.com
Website 2 – www.thecliffslofts.com
Address – 10 Paterson Plank Rd, Jersey City, New Jersey ( NJ ) 07307
Telephone – (201) 792-0040
71 Responses to ** The Cliffs Lofts **
August 12th, 2008 |
they look nice. they might pose a nice opportunity to take financially benefit from a developer who overspeculated, i.e. if he built a gorgeous place and the market didn’t support his ambition, you can rent said place on the cheap. there’s something beautiful about the free market system, the inherent corrections (and the punishment that greedy people receive.)
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August 12th, 2008 |
In response to hoboesq430 who said:
What are they building to the west of the skyclub? how tall will that new building be? I see that they are filling in the lot with dirt. do you know how soon construction will start?
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August 12th, 2008 |
No, they don’t switch them from sales to rentals to change statistics. They switch them to make money.
People can’t get mortgages the way they used to, but they still need places to live. Thus they rent. If you have property that’s not moving and you can rent it, it makes sense to do that.
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August 12th, 2008 |
In response to MF who said:
the rent prices for cliffs is pretty crazy. my landlord is the developer (i think – or real estate management company). i was shocked when he told me the rates when i considered relocating.
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August 13th, 2008 |
If you’d ever met Steve Biegel, you would know he’s money-grubbing and pretty much full of shit. I think something similar happened with the Sky Club, or was supposed to change to rentals, or something like that.
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August 13th, 2008 |
In response to andynnj who said:
what are your dealings with him? it’s only fair to ask. i’ve been relatively happy in my building, so I don’t have much bad to say, but I don’t like that my upstairs neighbors get away with being loud as hell all the time.
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October 8th, 2008 |
We just moved into the Cliffs Lofts across from Sky club one street away from Hoboken- We boomeranged bad it was 3 yrs ago we last lived in Hoboken. We love this place even though we are on busy Patterson Plank Road the two sets of windows totally helps. The back is landscaped with tiers accommodating the cliff behind the behind. Really nice and we love it being that we moved from a 2500 square foot new house in CT to be close to NYC for our jobs. GLAD WE ARE BACK!!
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October 8th, 2008 |
This is the last place i would move in to.
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December 19th, 2008 |
This place is now 95% occupied. How did they pull that off?
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December 19th, 2008 |
You sure about that? Don’t they often pump those numbers up?
They did convert that to rentals, right?
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December 19th, 2008 |
I’m shocked to see it but Fannie Mae just bought the debt from Keybank. Fannie agreed to buy it because the property achieved a 95% occupancy rate.
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