Friday, May 13, 2011

Downtown Jersey City Holding Steady-Downtown Jersey City Sales Update-----May 13, 2011

There were 8 sales this week in downtown Jersy City. Not great, but not bad.

There was a 1BR in the Newport area at 45 River Drive South for $401/sq.ft. It's a slightly older building, but if you like the Newport area, these properties are a great value.

There was a 1BR at 10 Regent that sold for $509/sq.ft. They call this the Liberty Harbor area and these units are very nice. They're not far from the Zeppelin Beer Hall which is a lot of fun....

On the 2BR front, there were no sales in the Newport area. Downtown 2BR averaged $422/sq. ft. There was a unit at Grove Point that just closed for $417/sq.ft. I know of someone who paid $562/sq.ft. for a similar unit at the peak of the market.

Please click on the link below if you can't view the chart:

Information provided by:

Kevin Dowd
Broker Salesperson
Prudential Castle Point Realty
203 Washington Street
Hoboken, NJ 07030
Cell: 201-606-5957

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