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Old 05-16-2009, 11:14 PM
 
18 posts, read 36,436 times
Reputation: 14

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I just went to see these condos today and found this thread when finding what others think about them.

I didn't find the area to dangerous where it was at. I work with alot of rappers in in the Bronx so maybe I am just used to it but the people seemed friendly enough. Still not about to go jogging after dark in Paterson anytime soon.

The lofts are really nice. The problem that comes up is the price. They really need to bring the price down if you ask me. 140k will get you the smallest one bedroom facing the train tracks. The second floor you are staring right at the train. YIKES!!! Other side of the building you are looking at the church. Rather nice on that side but I would suggest the 3rd or 4th floor. 2nd floor with the big windows it seems like you have no privacy.

The only apartment I would be interested in is the 2 bedroom facing the church on the south end of the building. The other side is already sold. I can understand because that is a really nice apartment. But the one they call the Arlington on the 2nd, 3rd and 4th floor are the only ones to buy IMO. The lofts apartments I felt took away from the vaulted ceilings so unless you really needs that much space I would save your money.


I really thought they were out of there mind when they told me the price. They wanted 309,000 for the Arlington(2 bedroom). No matter how badly they want this to be Manhattan it just isn't. The Brooklyn hipsters from Williamsburg are not gonna move in. Remember although those people over pay for NYC aprtments they also don't need a car and have 5 of their friends living with them.

Only reason I even considered checking this place out is if the price for the 2 bedroom was closer to 220k it would be a pretty decent investment. I plan to buy a house in 2 years so if I can get a nice apartment that I can flip or rent out in 2 years then it would be worth it.

309k asking price IMO is 120k to much. Sorry no matter how beautiful the place is it is still a bad neighborhood.

Also I have a few exotic cars that I wouldn't ever leave in Paterson. They only have outside lots near the building so that kinda turned me off.

I hope they can turn Paterson into the vision they have for it but you need to make it more profitable to me if you want to see me bring my money to the city.
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Old 05-17-2009, 08:34 AM
 
Location: Back home in Kaguawagpjpa.
1,990 posts, read 6,839,531 times
Reputation: 1047
[quote=turboman808;8846940]
Quote:
I just went to see these condos today and found this thread when finding what others think about them.

I didn't find the area to dangerous where it was at. I work with alot of rappers in in the Bronx so maybe I am just used to it but the people seemed friendly enough. Still not about to go jogging after dark in Paterson anytime soon.

The lofts are really nice. The problem that comes up is the price. They really need to bring the price down if you ask me. 140k will get you the smallest one bedroom facing the train tracks. The second floor you are staring right at the train. YIKES!!! Other side of the building you are looking at the church. Rather nice on that side but I would suggest the 3rd or 4th floor. 2nd floor with the big windows it seems like you have no privacy.
With this economy, it isn't a possibility that these condos will drop in price. However, one will have to remember that these buildings are historic in itself. It has taken a lot of money to renovate these old silk mills, and the price will get passed on to the buyers.

Quote:
The only apartment I would be interested in is the 2 bedroom facing the church on the south end of the building. The other side is already sold. I can understand because that is a really nice apartment. But the one they call the Arlington on the 2nd, 3rd and 4th floor are the only ones to buy IMO. The lofts apartments I felt took away from the vaulted ceilings so unless you really needs that much space I would save your money.


I really thought they were out of there mind when they told me the price. They wanted 309,000 for the Arlington(2 bedroom). No matter how badly they want this to be Manhattan it just isn't. The Brooklyn hipsters from Williamsburg are not gonna move in. Remember although those people over pay for NYC aprtments they also don't need a car and have 5 of their friends living with them.
I have to laugh at this. Paterson isn't trying to be Manhattan. Paterson is only tapping into a market of historic mills being converted into condos. Besides, it is a good thing that Brooklyn hipsters aren't moving in. At least Paterson can still keep some sort of idenity.

Quote:
Only reason I even considered checking this place out is if the price for the 2 bedroom was closer to 220k it would be a pretty decent investment. I plan to buy a house in 2 years so if I can get a nice apartment that I can flip or rent out in 2 years then it would be worth it.

309k asking price IMO is 120k to much. Sorry no matter how beautiful the place is it is still a bad neighborhood.

Also I have a few exotic cars that I wouldn't ever leave in Paterson. They only have outside lots near the building so that kinda turned me off.

I hope they can turn Paterson into the vision they have for it but you need to make it more profitable to me if you want to see me bring my money to the city.[/
QUOTE]

I wouldn't worry too much about parking an exotic car in Paterson, seriously. If someone is going to steal a car, it is usually a averagecar that can be chopped for parts, but I digress.

309K is exprensive, but housing in Paterson-and New Jersey in general-is expensive to begin with. Believe it or not, 309k wouldn't get someone a house in Paterson in a not-so-good area. Paterson has a ways to go, but it is slowy srarting to get there.
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Old 05-17-2009, 02:49 PM
 
18 posts, read 36,436 times
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Quote:
Originally Posted by SilkCity0416 View Post

309K is exprensive, but housing in Paterson-and New Jersey in general-is expensive to begin with. Believe it or not, 309k wouldn't get someone a house in Paterson in a not-so-good area. Paterson has a ways to go, but it is slowy srarting to get there.

Actualy there are alot fo 130k houses in Pateson. Not saying I would want them. Which again if a house is 130k in Paterson then what would be the value of a pretty loft space in Paterson? 200-220 would really be about my limit.
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Old 05-17-2009, 04:49 PM
 
Location: Hudson County, NJ
1,493 posts, read 2,580,367 times
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Maybe they wont steal your exotic car, but it sure will get vandalized if they don't steal it, jealousy.

Im going to stop by since I live next door and check these places out. $140k still seems like a lot, and its too soon to tell what kind of return you can potentially get, depending who your neighbors are, and if in fact the light rail is near by. There are houses out there in that price range that you can buy if you're willing to do some work.

And I don't think Paterson will be the next Williamsburg, silk city. I live next to paterson and in Wburg, and there is the whole way of life and surroundings out there, the history, but who knows. It won't happen anytime soon though.

Is there a website for these condos?
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Old 05-18-2009, 09:11 AM
 
Location: Back home in Kaguawagpjpa.
1,990 posts, read 6,839,531 times
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Quote:
Originally Posted by nowitsshowtime View Post
Maybe they wont steal your exotic car, but it sure will get vandalized if they don't steal it, jealousy.

Im going to stop by since I live next door and check these places out. $140k still seems like a lot, and its too soon to tell what kind of return you can potentially get, depending who your neighbors are, and if in fact the light rail is near by. There are houses out there in that price range that you can buy if you're willing to do some work.

And I don't think Paterson will be the next Williamsburg, silk city. I live next to paterson and in Wburg, and there is the whole way of life and surroundings out there, the history, but who knows. It won't happen anytime soon though.

Is there a website for these condos?

Can I key his car?
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Old 05-18-2009, 11:59 AM
 
18 posts, read 36,436 times
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Quote:
Originally Posted by SilkCity0416 View Post
Can I key his car?


By the way I lived in Flushing before moving to Hackensack. Right near Kissena Velodrome.

Probably just gonna stay in Hackensack another 2 years then buy the big house in Oakland.
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Old 07-28-2009, 05:52 PM
 
1 posts, read 1,815 times
Reputation: 10
WOW!!!!My husband and I thought that what we saw was beautiful, I moved back to Paterson to be with my elderly mother. I lived in the South where you get more bang for your buck, but unless all you like are cookouts and a big house, it can get very boring. Paterson has such a bad reputation that alone will stop people from buying this beautiful property. They would have to have a lot of visible security. I wish it were different because this is my home and I've watched it deterioate. There are still decent people here. Its hard to find them because of the bad element that has taken over here from the politicians, bad school system, gangs, welfare culture and all the things that people do not look for when yheir buying property.

Last edited by saying my piece; 07-28-2009 at 05:54 PM.. Reason: grammar
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Old 07-28-2009, 09:24 PM
 
820 posts, read 1,444,303 times
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Quote:
Originally Posted by brookdaleresident View Post
They're cheap for a good reason. You'll probably never be able to sell it.
This is so true.
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Old 07-28-2009, 11:06 PM
 
Location: New Jersey
4,085 posts, read 7,447,401 times
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Even the Arab section of Paterson has been brought down by the influx of Turks over the last several years. But I think Paterson is due for some kind of re-birth or gentrification.
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Old 07-30-2009, 07:21 AM
Status: "Even better than okay" (set 8 days ago)
 
Location: Coastal New Jersey
51,202 posts, read 50,499,962 times
Reputation: 60095
I'd love to see Paterson get a new lease on life. My grandparents worked in the silk mills and even when I was a kid my mother took me shopping at Jacobs and Meyer Brothers, which are long gone now. She said it was cheaper than going "out on the highway". I like to go to the farmer's market down by Getty Avenue on Sunday mornings.

Paterson's got a lot of history. I see they are going to do something with the old Alexander Hamilton Hotel.
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