809 Hudson St. {will it sell?}

809 Hudson St. – Will it sell in Hoboken?

Spotted this interesting property for sale in Hoboken. 809 Hudson Street is considered one of the top areas to live in town. And asking price is a whopping $3.5 million. Seems fairly typical for a market like this, right?

Well – looking into it a bit, it appears that this is a “quick flip” kind of deal.

The tax records indicate that it was purchased by a few Hoboken “locals” for $2.4 million this past summer. (Although it’s listed as an anonymous LLC).

Apparently some minor renovations were done to part of the building (new cheap windows, central HVAC, roof and a quick kitchen renovation). Much of the house probably needs lots of work.

I wonder how much was invested in these superficial renovations compared to the $1.1 million profit they’re seeking? $150k?

Some believe the entire building would have to be gutted for it to be a decent place to live. Otherwise the nightmares of a busted building would haunt you for years.

Do you think anyone will pay that much for 809 Hudson if they knew how fast this was put back on the market?

Hoboken NJ 809 Hudson Street Will it sell for 35 million - 809 Hudson St. {will it sell?}

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Thursday, December 3, 2015 9:50 am

Rumor has it Cirello, Piccardo (former city tax collector), and maybe Corea (former Parking Authority crook who stole a 600K) “pooled” their money to quick flip this dump. Do they really think someone with 3.5M will not do their due diligence before proceeding? Looking to make a million in profit in 4 months? Not even in Brooklyn let alone Hoboken.

Anyone who might buy this place will want to gut/renovate this so any money they spend was a total waste of time.

Whenever a listing has artists’s renderings of the inside instead of pictures be very afraid. Look at the left side of this property as well… not a single WINDOW!

Hope these guys take a major bath on this…if anyone deserves it it’s them.

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