Will it Sell? Weehawken Edition

4/23/2009:

[The Hoboken411 “Will it Sell?” Real Estate analyst / realist / comedian is back with another installment today! This time taking a leisurely stroll just across Hoboken’s northern border – into neighboring Weehawken, NJ!]

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5 Million Bucks to live in Weehawken?

Tale of the Tape:
Address: 1 Bellvue Terrace
Realtor: Singleton-Galmann
Type: 6 Bedrooms, 7 Baths Single Family
Square Feet: 6,000+ ($825.00 a SF)
COST: $4,950,000.00 (not a misprint… it is actually 4.95 Million to live in Weehawken!)
Special Notes: Weehawken’s only claims to fame are Alexander Hamilton was killed in a duel here, and George Clooney crashed his motorcycle last year.
TAXES: $40,836.00 (Hey at least there are no Condo Fees!)

See the FULL “Will it Sell?” analysis AFTER THE JUMP!

(Will it sell? Weehawken Edition, continued…)

Why Weehawken?

Well I decided to profile a non-Hoboken listing due to the ridiculous price tag and astronomical taxes.

Although this property has spectacular views, the inside does not look impressive at all. In addition Weehawken has very little to offer in terms of Shopping, bars, etc. This area is called the “Bluffs” where many expensive houses exist, but 5 Million? Come on!

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Photo Gallery and Commentary

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Cost to live here

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Final Summary:

With the Economy still in downward spiral mode I am not sure who could (or would) shell out 5 Million for this average house, with above average views. If this were 3 years ago I could see some Wall Street hotshot overpaying for this house to impress chicks:

“See that building right there Brittney? That’s where I decide the fate of the civilized world. Want to go in the Hot Tub and I will try for the 5th time tonight to explain derivatives?”

With $297,000 commission riding on this deal, I am sure Singleton-Galmann is using every ounce of their collective experience and trickery to figure out how to convince someone that Weehawken is the new Lake Como, Italy which is why George Clooney was here last year. They would have to sell twelve $400,000 Condos to make the same money so I suggest they pay George Clooney 100K to pretend to be living there the day of the Open House. Money well spent!

Leave a Reply

23 Comments on "Will it Sell? Weehawken Edition"

gazzosdriver
Member
gazzosdriver

H411, do you ever post updates from the “Will It Sell” category? Would love to see the results.

whewwhewwhew
Member

[quote comment=”150967″]”average house, with above average views”

I really would like to see where this writer lives. Based on his other will it sell comments I’m picturing a 20k sqft house over looking the pacific ocean with gold toilets.[/quote]

I hear the person lives in a 400SF Studio in Bayonne and hates successful people. They also have 30 Cats.

plywood
Member
plywood

P.S. We’re all just jealous – JEALOUS!

plywood
Member
plywood

Should the day come when Hoboken is mostly under water this property will come into it’s own. It will be worth more than all the condos put together in the 4th ward.

escaped68
Member

I forgot to state that the vent bldg in the picture is only for the south tube. You can’t see the larger vent bldg that is for the north and center tubes but it is to the left of the south bldg.

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