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Hi all, I am considering an apartment in Passaic park.
Any thoughts about whether it would be a good investment to buy/live there vs West New York, NJ?
If you're looking for investment potential then I would probably look at WNY before Passaic; since its close to Manhattan and may end up getting gentrified in the far future as the Hoboken/JC Waterfront crowd look for cheaper housing. Plus, I've heard of proposals for a ferry service between this area and Manhattan; which would boost desirability...not sure if the plans will ever reach fruition.
Passaic Park is considered the nicer part of Passaic but I don't ever see any part of Passaic experiencing a sharp increase in property values any time soon.
Also keep in mind that they're two completely different types of areas...maybe I'll be wrong.
Last edited by MemoryMaker; 02-22-2019 at 01:20 PM..
If you're looking for investment potential then I would probably look at WNY before Passaic; since its close to Manhattan and may end up getting gentrified in the far future
LOL
That ship has already sailed. The closer you are to the waterfront, the better, but even interior WNY is over $600K for the nicer homes.
If you're looking for investment potential then I would probably look at WNY before Passaic; since its close to Manhattan and may end up getting gentrified in the far future as the Hoboken/JC Waterfront crowd look for cheaper housing. Plus, I've heard of proposals for a ferry service between this area and Manhattan; which would boost desirability...not sure if the plans will ever reach fruition.
Passaic Park is considered the nicer part of Passaic but I don't ever see any part of Passaic experiencing a sharp increase in property values any time soon.
Also keep in mind that they're two completely different types of areas...maybe I'll be wrong.
Yeah this really is not accurate. West New York IS and has been gentrifying for a while now. It is also a MUCH better investment than Passaic. I find it hilarious that people say Jersey City is gentrifying outside of downtown yet are not aware of places like Union City and West New York.
It will take a VERY long time for union city and west new york to change...their school systems are horrible and the areas are very dense, but in a bad way. but they are way better than passaic.
It will take a VERY long time for union city and west new york to change...their school systems are horrible and the areas are very dense, but in a bad way. but they are way better than passaic.
It will take a VERY long time for union city and west new york to change...their school systems are horrible and the areas are very dense, but in a bad way. but they are way better than passaic.
Union City sends 75 percent of its graduating seniors to college. That’s pretty high for a low income district.
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