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Old 07-30-2014, 08:53 PM
 
Location: Richmond, VA
836 posts, read 1,027,235 times
Reputation: 904

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My ex boyfriend lives there and his apartment (paid for by his mommy and daddy) had a beautiful view of the skyline, was located around nice restaurants (think Melting pot and other pricey joints) And boutique stores. Anytime you have a waterfront location it's gonna be pricier than if you weren't.

Plus as others have mentioned the path train and easy accessibility to NYC (no car needed)
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Old 07-30-2014, 08:58 PM
 
Location: Randolph, NJ
4,073 posts, read 8,940,891 times
Reputation: 3262
Quote:
Originally Posted by HalfFull View Post
Which other places are on the Hudson with a PATH station? With tons of bars/restaurants? With relatively low crime?

Supply & Demand...

OP, we've tried to answer your question. Answer mine above. (and avoid "sort of" or "almost as" or "nearly as" when you list these other places.
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Old 07-30-2014, 08:59 PM
 
Location: New Jersey
11,287 posts, read 16,562,181 times
Reputation: 13226
Hoboken was also named the 6th snobbiest city/town in America.

Hoboken comes in sixth on Movoto's '10 Snobbiest Small Cities in America' list - NY Daily News
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Old 07-30-2014, 09:07 PM
 
10,219 posts, read 19,095,917 times
Reputation: 10880
Quote:
Originally Posted by camaro69 View Post
Hoboken was also named the 6th snobbiest city/town in America.
Yeah, but they might have switched t's and bs.
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Old 07-30-2014, 09:22 PM
 
145 posts, read 312,736 times
Reputation: 97
Location and low crime.

Being able to get to and from the city via the PATH, which runs every few minutes during Rush hour, and bus and ferry makes it very appealing for people wanting short commutes.

Honestly, Hoboken is really no more expensive than downtown Jersey City near Grove St. and Exchange Place.

So yeah, supply and demand basically. If a town like North Bergen, Union City, Bayonne, etc. had a PATH station that went into the city, they'd be more expensive too.
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Old 07-31-2014, 04:55 AM
 
620 posts, read 1,066,304 times
Reputation: 503
Its very "collegy" and broish. I dont really care for Hoboken. I feel like if your gonna pay Hoboken prices you should jus live in NyC. I mean when you factor in the commute time, delays, cost of path and nyc train... You might as well live in the city.

I mean the night scene is a bunch of white drunk lushes which all go up their apts and hook up. I dont know. Hoboken is just not ym cup of tea
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Old 07-31-2014, 05:59 AM
 
19,034 posts, read 25,108,565 times
Reputation: 25341
Quote:
Originally Posted by smommaof3 View Post
My question is why are people willing to pay that much?


Something is worth exactly what people are willing to pay for it, plain & simple.

Whether it is an apartment in Hoboken, a house in Westfield, a suit of clothing from Brooks Brothers, or a Rolls-Royce, the price would be lower if not for the reality that enough people are willing to pay a high price as a result of their perceptions of its desirability.

It doesn't matter whether you agree with those perceptions or not, as long as sufficient numbers of other consumers feel that the inflated price is worthwhile.

Thus, if a landlord or realty company can successfully rent-out a small apartment for...let's say...$1,800 per month, they will do it. If that apartment couldn't be successfully marketed at that price, the price would be lower.

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Old 07-31-2014, 09:52 AM
 
Location: Elsewhere
87,960 posts, read 83,789,860 times
Reputation: 114145
Small place + lots of people wanting to live there = high prices.

It's the location. If you recall, a few years ago NOBODY wanted to live in Hoboken. It was a rundown, trashy city. Then somebody said, "HEY, but it's on the Hudson, with an easy connection to NYC, and NYC prices are becoming out of reach...let's buy a few of these brownstones, spruce 'em up, and see what happens." And we saw what happened.
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Old 07-31-2014, 10:04 AM
 
Location: West Orange, NJ
12,546 posts, read 21,328,292 times
Reputation: 3730
Quote:
Originally Posted by smommaof3 View Post
My question is why are people willing to pay that much? I don't think Hoboken is much better than most of the areas surrounding it (also close to NY).
> 50,000 people live in a square mile area that has a 15 minute ride to 33rd street and a 7-10 minute ride to World Trade Center. It's virtually fully developed, so there isn't really much new supply being added. It's less expensive than Manhattan for the most part, and yet, people who live in Hoboken can be at certain offices faster than their coworkers that live in Manhattan.

What surrounding area "also close to NY" do you think is undervalued compared to Hoboken?
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Old 07-31-2014, 10:10 AM
 
Location: West Orange, NJ
12,546 posts, read 21,328,292 times
Reputation: 3730
Quote:
Originally Posted by Popfizz View Post
Its very "collegy" and broish. I dont really care for Hoboken. I feel like if your gonna pay Hoboken prices you should jus live in NyC. I mean when you factor in the commute time, delays, cost of path and nyc train... You might as well live in the city.

I mean the night scene is a bunch of white drunk lushes which all go up their apts and hook up. I dont know. Hoboken is just not ym cup of tea
It's not for everyone, for sure. But when I lived in Hoboken (2004-2010), I liked being able to leave Manhattan at the end of the day. I also got to the office more quickly than my friends who lived in stuy-town and uptown. my commute was typically 45-55 minutes depending on how i caught the train in Hoboken. Plus, I had an elevator, washer and dryer in my apartment, and a garaged parking spot - so, my Hoboken price, while not cheap by any measure, was nowhere near as expensive as NYC would be to have even some of those perks in my apartment. What's a 2 bedroom in an elevator building with a garage and in-apartment laundry go for in NYC?
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