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I will say only thing about Beacon that everyone will agree on. Talking about Beacon in NJ forum is like talking about Relgiion, Politics, or Abortion. There's no middle ground and talk gets heated.
As for real estate market of JC. I'm not an agent, just an interested consumer who is looking around to buy myself. There is ton of development action going on in Grove Point area right now through combination of restarting of frozen ones and new ones. There is at minimum 1000 new units being built in Grove Point area alone near the path. Tollbrother is building a complex right by Path in Grove (Provost Sq Project) and that alone will eventually have 900+ units. Phase 1 of this project alone will bring 450ish units to market. Considering there are at least half dozen development going on in this part of JC. You can bet that there will be alot more than 1000 units coming on to market. That means more supply (mostly for rental, not sale).
Beacon's location is not ideal for walking distance for many things such as Path station, water front, etc. In return, Beacon has large campus and offers more affordable price in both rental and sale. Because of that it comes down to choices. If you desire more gentrified area with easy walking distance to mall, shops, path, waterfront but willing to pay more for it. You will live in Grove Point or Newport area. I think average rental for 1bed for these area is 2700+.
If you want something more affordable yet just as luxurous or want more space but willing to sacrifice the walkability and don't mind the longer time needed more upside potential. I would think Beacon makes sense. I will emphasize in my non-professional opinion, I'd say Beacon will require lot more time before it sees upside potential that units in Grove Point area/Harsimus Cove area did because there is still lot of space for development to happen in Grove Point area.
If you want something more affordable yet just as luxurous or want more space but willing to sacrifice the walkability and don't mind the longer time needed more upside potential. I would think Beacon makes sense. I will emphasize in my non-professional opinion, I'd say Beacon will require lot more time before it sees upside potential that units in Grove Point area/Harsimus Cove area did because there is still lot of space for development to happen in Grove Point area.
Is is true that the monthly maintenance fee at Beacon is $1000+, or is that bad/inaccurate info?
Is is true that the monthly maintenance fee at Beacon is $1000+, or is that bad/inaccurate info?
Maint like any other building depends on sq ft, how high you are, amenetities offered, etc. I dont think its 1000+ for studio unless its like Penthouse studio or something. 2bedroom is around 900-1k+
Beacon has crapload of amentities though. Movie, spa, billard, yoga, pool, gym, shuttle, etc. These costs money.
Trump at 88 Morgan in JC has high maint too and similar to price level of Beacon. 1k+ for 2bedrooms, about 800 for studio.
That said, Maint almost never goes down so its something to keep note. Remember though, Beacon is cheap. For price of 1 bedroom condo in Grove/Newport area. You can get 2 bed at Beacon.
Maint like any other building depends on sq ft, how high you are, amenetities offered, etc. I dont think its 1000+ for studio unless its like Penthouse studio or something. 2bedroom is around 900-1k+
Beacon has crapload of amentities though. Movie, spa, billard, yoga, pool, gym, shuttle, etc. These costs money.
Trump at 88 Morgan in JC has high maint too and similar to price level of Beacon. 1k+ for 2bedrooms, about 800 for studio.
That said, Maint almost never goes down so its something to keep note. Remember though, Beacon is cheap. For price of 1 bedroom condo in Grove/Newport area. You can get 2 bed at Beacon.
Cool. Thank you for the info. Just curious...what are property taxes like on the average Beacon unit? I toy with the idea of moving back to JC. I can already tell that Beacon would be beyond my means based on the maintenance fee alone, but it's good to have a dream.
Cool. Thank you for the info. Just curious...what are property taxes like on the average Beacon unit? I toy with the idea of moving back to JC. I can already tell that Beacon would be beyond my means based on the maintenance fee alone, but it's good to have a dream.
Sorry man, I'm not gunna do all of your homework for ya. You can use Streeteasy, NJMLS, NYTimes Real Estate, Zillows, NJ Prop Assessment search to figure that on your own. Good luck.
Information from people who don't live there not very reluable
Quote:
Originally Posted by Docendo discimus
Cool. Thank you for the info. Just curious...what are property taxes like on the average Beacon unit? I toy with the idea of moving back to JC. I can already tell that Beacon would be beyond my means based on the maintenance fee alone, but it's good to have a dream.
I have a one bedroom at the Beacon with a view of the Statue of Liberty and the lower harbor, Staten Island, etc. I've lived there since the place opened. We pay $534.75 for our monthly maint. fee on an apartment that is 760 sq ft. Since maint is based on square footage, you'd have to have a two bedroom or a really big 1 bedroom to pay $1000 or more.
We don't pay taxes at the Beacon, we pay PILOT instead. That's Jersey Cities Payment IN Lieu OF Taxes. I have that escrowed along with my mortgage payment, so I don't know what it is off hand. The original abatement was for 30 years, we have been at the Beacon for 6 years so we have another 24 years of PILOT before we begin paying taxes.
Sorry man, I'm not gunna do all of your homework for ya. You can use Streeteasy, NJMLS, NYTimes Real Estate, Zillows, NJ Prop Assessment search to figure that on your own. Good luck.
Ok, fair enough.
Quote:
Originally Posted by Beaconowner
I have a one bedroom at the Beacon with a view of the Statue of Liberty and the lower harbor, Staten Island, etc. I've lived there since the place opened. We pay $534.75 for our monthly maint. fee on an apartment that is 760 sq ft. Since maint is based on square footage, you'd have to have a two bedroom or a really big 1 bedroom to pay $1000 or more.
We don't pay taxes at the Beacon, we pay PILOT instead. That's Jersey Cities Payment IN Lieu OF Taxes. I have that escrowed along with my mortgage payment, so I don't know what it is off hand. The original abatement was for 30 years, we have been at the Beacon for 6 years so we have another 24 years of PILOT before we begin paying taxes.
Wow. Thanks for the info.
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Information from people who don't live there not very reluable
