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Been looking for a condo for over 5 months now. Finally we really really like one that's on 4th and Jefferson st. in Hoboken. 3 bedroom , 2 bath with a good sized balcony. Elevator building, deeded indoor parking space, fantastic layout, great finishes ... not much we want to change in the house.
Really the big question now is regarding the neighborhood. We've taken many walks around there (couple blocks each direction pretty much), spoke to neighbors and grocery store owners. No red flags as of yet. I was hoping to get some advice from people who live around the neighborhood or have lived there in the past.
I can't imagine the neighborhood being anything but lovely. Hoboken is a great place to live. My MAJOR concern with buying property is flooding. Does your condo require flood insurance? How much? I know this address is further away from the river, but Hoboken can turn into a lagoon during bad storms.
That is only about 3 blocks away from the projects so if the price seems too good to be true, that may be why. Not to say there's anything wrong with that area at all but I'm sure it turns some people off.
Basically, unless you are on Hudson St or parts of Washington St. you will need flood insurance in Hoboken. It is likely included in the HOA already (it is included in mine) as in condos it's a pooled expense shared equally. The worst flooding occurs in the Monroe & Madison areas in the western part of town, basically from the Monroe Center and south. So Jefferson is close'ish to that, so may be a concern. Just don't live on the 1st floor.
Otherwise, the area is fine (although if I recall it's a hike from any grocery stores, which would probably annoy me). You'll have some noise spillover from the Stewed Cow, but you kinda have that all over town. The only part of Hoboken I would truly avoid when purchasing is in the 2nd & Jackson vicinity, which are surprisingly sketchy. And maybe even more surprising, increasingly, is the area around 3rd & Bloomfield (which otherwise is a great street) with the shelter. Sadly, there has been a noticeable increase in homelessness around town, and the epicenter seems to be there (duh) and Church Square Park.
Update : We put in an offer but another buyer bid wayyy higher than asking price. We didn't want to match it so the decision was kinda made for us. It was a beautiful house. The search continues!!
Thank you all for your replies, they were really helpful!!
how is the hoboken housing market? i have a friend who owns an apartment there that he once lived in then rented when they moved out of hoboken. he is losing his tenants soon and will need to find a new renter. i suggested he look into selling since if the hoboken market is hot like it is here, it may make sense to just cash out and not have to worry about collecting monthly rent checks.
I lived a block from there on 5th and Jeff 20 years ago. It was fine then and is probably better now.
i lived at Jefferson between 6th and 7th for seven years way back in the day (1985-1992). never any flooding, or problems with the neighborhood.
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