Will it sell? Plot on 14th & Clinton

5/22/2009:

will it sell 14th and clinton parking lots hoboken nj - Will it sell? Plot on 14th & Clinton

What Real Estate bubble?

Hoboken411 reader John sent this Real Estate link for a property on 14th & Clinton Streets.

After selling my mansions in the tropics, I’ve been a bit out of the loop when it comes to Real Estate listings… maybe someone can explain why this is listed as “vacant lot,” but goes on to describe:

“Fantastic 50 unit development opportunity with approvals in the North West section of Hoboken. The beautiful Marchetto & Assoc. designed building will be comprised of 20 live/work space units, 30 residential units, and one commercial artist studio all within 6 stories. The bldg. supports parking for 76 vehicles and common rooftop terrace. Some units will have private terraces and roof decks. Also avaiable for lease at $20K per month NNN long term lease.”

Does this mean that for $7.5 million I can buy the property, THEN pay to have this “pre-approved” building design constructed?? Wouldn’t that be another $5-10 Million?

Forgive me if I’m just not seeing it – I think I’m overwhelmed with vitamins since I began juicing daily.

why isnt this harbor house lot used - Will it sell? Plot on 14th & Clinton

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ahobokenguy
ahobokenguy
Saturday, May 23, 2009 1:02 pm

The “Harbor” has been closed for a few weeks. I always thought their property was owned by the city/state/county/ other public entity. Maybe that is just the physical buildings and property across the street from the lot. I wouldn’t be surprised if they went up for sale soon as well. Maybe that lot was a lease.

Also not sure how that property is currently zoned. looks like mixed use from the existing designs. Condos next to the bus lots, nice!

I am surprised we haven’t seen a Harbor update on 411.

elainetyger
elainetyger
Saturday, May 23, 2009 12:34 pm

That land is currently the parking lot and picnic area for the halfway house. What happens to the halfway house when the land is sold? Will there be a tunnel through the complex basement for the half-criminals to get to the basketball court?

sonofagunk
sonofagunk
Friday, May 22, 2009 6:21 pm

that’s $150K just for the land for the 50 units.

Isn’t the city going to take the land over anyway?

NewarkNick
NewarkNick
Friday, May 22, 2009 2:19 pm

It’ll never sell for that much. You always have to start high to get to the price you’re ok with.

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