Saturday, July 9, 2011
Downtown Beats Newport Area in 1BR Sales This Week-Downtown Jersey City Sales Update-July 8, 2011
There were a total of 9 sales this week in downtown Jersey City. Not as good as last week, but there are some highlights.
I accidentally included at sale at Hamilton Square (25 McWilliams) last week as a Newport property. This made downtown beat the Newport area by an even larger margin!
For the first time in a long time, 1BR sales in downtown beat 1BR sales in Newport. Downtown averaged $475/sq.ft. while Newport only averaged $388/sq.ft. Newport was brought down because of a sale at 45 River Drive South. Although still a nice complex, it doesn't sell as high as some of the newer buildings in the area.
On the two bedroom front, there was an OK sale at 700 Grove for $413/sq.ft. and a very good sale at 217 Newark for $490/sq.ft.
Please click on the link below if you can't view the chart:
Information Provided By:
Prudential Castle Point Realty
203 Washington Street
Hoboken, NJ 07030
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