High Rise Condo's: Fort Lee vs Hackensack (Edgewater: real estate, neighborhoods)

[amelen]

I'm looking at comparable units in hackensack and fort lee. The premium for fort lee is around $90,000-$100,000. (350k vs 250k). What do you guys think? Maintenance and taxes are pretty comparable. Building age, amenities, etc.. are also comparable. Is Fort Lee worth the extra premium? The commute to port authority is only 8-10min longer from hackensack. What is a better bet for future re-sale values?

[NJ Chutzpah]

I like Fort Lee better because of location

easier access to NYC by car than hackensack

It is also a nicer, cleaner town

[amelen]

I agree, Fort Lee is better.. but is it worth the $90k premium?

[pbergen]

luxury units in both towns generally have good resale value. but you should keep in mind that perception means a lot when it comes to real estate, and it seems that most people familiar with these towns find fort lee to be the more desirable of the two, even though hackensack has plenty of nice, pleasant neighborhoods and upscale housing in its own right. i personally believe that hackensack gets an undeservedly bad rap from some quarters, but there's no denying that that reputation is out there, depending whom you speak with. something to keep in mind.

i do feel that fort lee is worth the extra premium if you have school-age kids. fort lee is arguably a better town to raise kids because there are no bad areas, whereas hackensack has a mix of very nice neighborhoods along with so-so and somewhat sketchy areas. while hackensack's worst neighborhoods are not from what i would consider truly bad, fort lee has nothing even approaching that. also, if you're planning on sending your kids to public school, fort lee wins hands down; its schools range from ok to fairly good whereas hackensack's schools are subpar for bergen county. in either case, though, private schools might be an option since neither has an elite school system.

another thing to keep in mind: i suspect that the new ferry in edgewater will have a positive impact on real estate on fort lee, cliffside park, etc. in hackensack, the one mass transit project looming on the horizon is the proposed cross-county line that would run northbound through north bergen, ridgefield park, and bogota before turning west through central hackensack, maywood, and rochelle park on the way to paterson and hawthorne. but that project is still up in the air, whereas the edgewater ferry has been in place for over a year and is doing quite well from what i understand.

[NJ Chutzpah]

it is only worth it if you can afford it

if not go for something cheaper

[EEEPNJ]

pbergen hits it on the head.

One thing I'd add is that Hackensack is also a bit more diverse, Ft. Lee is predominately Korean now, but there is more "life" in Fort Lee. Have you considered Edgewater as well?

[FromDaSack]

Im in hackensack and grew up here, but never lived in a building... i know some of the buildings in hackensack can be dirty and not so nice, loud too..
But there is also PRICEY nice Penthouse ones and theres the ones in between.

Fort lee, dont know nothin about.. but it's closer to the bridge.. and it has good chinese food! hah

But i visit my friend sometimes and he lives in a building on prospect and its NICE! and where all the buildings are in hackensack are near the HS. And dont listen to the people who say "private school is the only way" because not everyone has all the money to spend, and because the schools in hackensack are really good, i went through them (Parker Elem, Hack. middle, and Hack. High) and i never had a big problem, (im in 11th) no one feels like a minority in the schools.

who wants to commute by car to work everyday.. with the traffic! Well if your doin it by car to commute, fort lee

[amelen]

thanks for all the info guys!!