hoboken411

Archived Posts from "'Real Estate'"

Arroyo – For Rent

So you want to start a liquor store? Arroyo for rent in Hoboken

Arroyo Liquors was one of those places that you’d have to do a double-take to be sure it was open or doomed. But now, it appears that the store is for rent.

The space is 1100 square feet – with 800 additional sq. ft. of storage. While you can “rent” the space, you’d have to BUY the liquor license to run it. Liquor stores all seem to have no problem turning a profit in town – maybe these guys were just tired of it. I’d suspect that dealing with drunks all the time (without a bouncer to help you out) is a royal pain.

Have tons of money burning a hole in your pocket? Call 201-238-5033 to find out how you can take a crack at running your own liquor store!.

Arroyo liquor store hoboken nj for rent license

Description: Retail Liquor Store For Rent
Address: 260 1st St, Hoboken, NJ 07030-3500
Telephone: (201) 659-5787

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Hoboken density on the rise

Hoboken Density Alert: Fields Development Group Uptown

If I didn’t mention that this photo was taken in Hoboken, NJ – what would your first guess be? Chernobyl? Or one of the ghost cities in China? Anyway – just a minor update to the Hoboken Density Watch file.

Fields Development Group has been working on what appears to be a fairly standard residential building at the corner of 12th & Jefferson. Not sure what the name is yet – but it will likely be complete in 2015.

As most of you know, Hoboken is getting more populated by the day. We’re creeping up on 60,000 residents. How much do you think the infrastructure can handle?

Fields Development apartment construction Hoboken NJ

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What next for 506 Jefferson?

What next for old Diana’s spot at 506 Jefferson Street?

One of the last few true “neighborhood” eats – Diana’s – closed last year, and was recently “sold” on the real estate market.

Everyone I asked was convinced that there was no way in hell a new cafe with a “small town feel” will be coming in to replace it. Most likely bland, generic housing once again (which is fine if that’s what the proprietor wants).

But in today’s tumultuous real estate market, along with mavens trying to score big – what are the chances a genuine old school place (without the modern marketing and technology) can survive? Are the “good old fashioned times” just pretty much extinct?

What would work in this neighborhood anyway?

what would work dianas 506 jefferson st hoboken NJ

Pearson Hoboken NJ – $100 Million tax break

Pearson nears completion in Hoboken almost 2 years later…

Wow, the construction for the massive Pearson Education office building which started just under two years ago is really taking shape. The exterior is practically done – and the sidewalk is open for pedestrians.

Looks not much different at the street level than the other two buildings to the south. Great.

However, with Hoboken traffic already bursting at the seams at all hours – I wonder how many of the tenants of this new building will be adding to our vehicular congestion problems?

pearson education sidewalk open river street hoboken NJ

pearson education hoboken NJ

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Hoboken reval rhetoric

Council seeks to terminate “rolling reassessment” in Hoboken

Zimmer misled council members, no transparency…

Hoboken City Council members Beth Mason, Theresa Castellano, Michael Russo and Tim Occhipinti called on “mayor” Zimmer today to cancel the City of Hoboken’s rolling reassessment program. The proposed rolling reassessment program would require the City of Hoboken to reevaluate properties on an annual basis. In addition, the program would require Hoboken properties be reevaluated according to market trends and values.

Hoboken Property Taxes

“Zimmer’s rolling reassessment program will not reduce our city’s tax burden,” said Councilwoman Mason. “This will lead to yet another tax increase for Hoboken residents. We should immediately terminate the contract of the firm the Mayor supported to conduct the rolling revaluation program.”

Earlier this year, Zimmer sought and received state approval to establish the rolling reassessment program before consulting the City Council. Her administration submitted a resolution to hire the same company that conducted the 2013 property tax revaluation, but the resolution failed to specify that it was for a new rolling reassessment program.

As a result of the rolling reassessment program, if properties are sold over market value or when building permits are taken out by a homeowner to make an improvement the Zimmer Administration will be able to increase property taxes on a continual basis.

As usual, Zimmer kept the independent thinkers on the City Council in the dark. Zimmer’s record on taxes is one that she should find very embarrassing. She promised to cut property taxes by 25% within 90 days of taking office and failed to do so, she blew a $25 million surplus on patronage and wasteful spending, and then her allies on the Hoboken Board of Education voted to take away the public’s right to vote on the school budget. I guess this is the latest chapter in her terrible track record,” said Councilwoman Theresa Castellano.

“We were elected to put the best interest of our constituents first, and I cannot support a program that runs the risk of increasing taxes on our residents,” said Councilman Russo. “I am committed to working with my colleagues to cut wasteful spending and provide much-needed tax relief for our families. She continues to point out that the County overtaxes residents, and it appears that her solution is to join the party and overtax residents at the municipal level as well. It is absolutely absurd.”

“Zimmer was the poster child for Governor Christie’s two-percent property taxes cap. However, patronage hires, skyrocketing legal costs, and fiscal mismanagement have rendered her unable to live within that two-percent cap. Instead, the Mayor is using this rolling revaluation as a way to circumvent the very property tax cap that she traveled the state to support. Evidently when her opinion of Governor Christie changed, so did her support for the two-percent cap,” Councilman Occhipinti said.

At the December 2nd City Council meeting Council members Mason, Castellano, Russo, and Occhipinti will introduce a resolution to terminate the professional services contract of the firm hired to conduct the rolling revaluation program. To date, the revaluation program has cost Hoboken taxpayers $680,000 and will top over $1 million in the next four years.

Property Taxes and Values – a sticky situation in Hoboken

A bunch of people asked me about this last week, as a lot of residents are scrambling to get a handle on their property taxes, the whole “assessment” process the city is fiddling with and more.

Is there anything “fair” about property tax assessment in Hoboken?

But I’d like to remind people – that rather than arguing over how much YOU pay – I think there are more disturbing issues to tackle, like determining a truly FAIR way to subsidize such an ineffective “corporation” called the City of Hoboken.

  • For one, as we cited an example earlier this year, a family of four living in a $350k condo pays a lot less than a single individual living in a $950k condo – yet uses significantly more of the city resources. That single fact alone makes their method of calculating the “contributions” a property-owning resident should make completely INVALID. Perpetually punishing someone because of what they can afford is just not sustainable. This is a lot different than a “sales tax.” When people start putting their heads together to crack this nut, then it makes sense to further the discussion.
  • Additionally, now the city wants to blow through hundreds of thousands of dollars to ANNUALLY INSPECT the properties! What kind of INVASION OF PRIVACY is that? Do you want that much government intrusion? It’s off-the-charts ridiculous, and I can sense another “revolt” amongst the residents brewing.

What sucks beyond belief – is the fact that all of you think you “own” your property. You don’t. You’re “renting” from the city.

When election time rolls around again, maybe there will be an intelligent candidate who will deliver a significantly smaller government and way to generate revenue that doesn’t OVER TAX the residents into poverty.

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New High Rise coming to 15th & Wash

Higher and Higher in Hoboken

Several residents were wondering why an entire block of Washington St. between 14th & 15th was marked off as “no parking” recently (almost until the end of the month on one side).

No Parking Hoboken NJ Washington Street 14th 15th

Another Toll Brothers Building starts at 15th & Washington

So it looks like Toll Brothers is breaking ground for the latest uptown high-rise. From what we understand the room was needed to stage large construction equipment onto the lot.

They’re apparently taking a pause from Maxwell Place to work on this project. But sales has been good according to Toll. Their revenues have increased by nearly 50% in just the past year alone, thanks to the lovely Real Estate Bubble!

All the people in 1450 Washington who’ve been enjoying their somewhat good views of the skyline must be wondering what to do with their investments. Oh well, the risks of city living, I guess.

Toll Brothers Construction Hoboken NJ Hudson Tea

Description: Luxury Apartment Building.
Address: 15th & Washington, Hoboken, NJ 07030
Phone: TBD
Online: TBD