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Hello, I am French and looking to purchase a condo in the US as an investment. We are looking for a big high floor condo with a great potential for resale. My husband and I fell in love with 77 Hudson but I was really astonished by the taxes level : 1,6% even with abatement! I think it could make it harder at the time of resale. Moreover, as we live in Paris, we do not know the area. Can someone advise me on the best place to live for a young family with two kids but who would appreciate to have shopping, restaurants... around? How do ou explain the tax level in Jersey city? Also, what do you think of Northsidepiers and the Edge condos in Williamsburg? Last, how do you think both places will evolve and what kind of developments are planned? Thanks for your help.
Well, I would certainly come over here and rent first, especially since you are coming from France! You'll need to get to know the area before you purchase something, for sure.
That beng said, no urban area, whether it's Jersey City or Brooklyn, is the BEST place to send kids to school. However, a LOT, and I mean a lot, of people are doing it...they just send their kids to private school. Downtown Jersey City is literally loaded with parents pushing around strollers and playing with their children in the park.
OK...Jersey City vs Williamsburg. Equal commutes to Manhattan NYC. Equal type of "scene"...waterfront, shopping, restaurants, bars, gentrification. In my opinion (and I am biased) Downtown Jersey City is more aesthetically pleasing. It has gleaming modern skyscrapers on the waterfront, and if you travel just a few blocks inland you have very pretty, quaint brownstone neighborhoods where everybody knows your face. From my experiences in Williamsburg, it is kind of junky looking...lots of ancient warehouses and run-down buildings. Just my opinion. (FYI, there are nicer parts of Brooklyn, too).
77 Hudson on the Jersey City waterfront is a Toll Brothers building, which means that it is not well constructed. However, it is nice looking, you have one of the best views in the metropolitan area, and you are near everything.
Come to Downtown Jersey City and check it out for a day, or two. Stay in the Hyatt on the waterfront, and walk around. Then check out different parts of Brooklyn in the same manner. Whatever you do, I'd recommend renting in an area first.
Thank you very much to you both for the information you provided me. Could you please let me know why you say that 77 Hudson does not sell? I have been to NYC area 4 times and will stay there again next month but do not want to rent. I would rather own my condo and this is the good timing for me to purchase : the rate of the euro is still interesting and I will not have access to financing when I come to the US as I will have to wait at least a couple of years to be able to build up a credit history. My feeling is that Jersey city would be a great option even if I also think that the new developments are overvalued. However, since I am putting a big downpayment in euros and as I won't resale the condo before at least 5 years, I think it still makes sense to purchase now. Manhattan could also be a good option given the budget that we have but with kids I do not feel it is the right place unless considering Battery Park, West village or other quite areas. This is just my feeling but I could be wrong so it is good to have information from people who know the area.
77 hudson is not toll brothers, it is Khovnanian which is the largest builder in NJ. I personally think one of the high floors in 77 hudson which you can get under 1.3MM for a 1800sqft 3 bedroom with a garage spot is a good deal and if you are willing to hold it until the economy improves then I think you will see a nice increase in your investment.
We own a condo in another KHov developed property (on Route 440 in Jersey City) and it turned out to be the most regrettable decision we made. The biggest complaint we have is the construction quality. On the outside it does look very good and expensive. However, living there for 3 years now (the place is almost 5 years old), the quality is beginning to show. Additionally their sound insulation is the worst - we experience many sleepless nights.
We would recommend talking to other Jersey City Realtors who know about KHov condos. We are not the only ones, we've asked our neighbors and they've made same complaints. We've since checked out 77 Hudson and felt that the sound insulation was not of top quality. We would highly recommend testing out before.
Their post-sale service is not great either. Maybe due to the recent downturn, they've not responded to our board's requests to fix the simplest items. I would check out other KHov before making the purchase - they have mostly mixed reviews.
Well, I would certainly come over here and rent first, especially since you are coming from France! You'll need to get to know the area before you purchase something, for sure.
That beng said, no urban area, whether it's Jersey City or Brooklyn, is the BEST place to send kids to school. However, a LOT, and I mean a lot, of people are doing it...they just send their kids to private school. Downtown Jersey City is literally loaded with parents pushing around strollers and playing with their children in the park.
OK...Jersey City vs Williamsburg. Equal commutes to Manhattan NYC. Equal type of "scene"...waterfront, shopping, restaurants, bars, gentrification. In my opinion (and I am biased) Downtown Jersey City is more aesthetically pleasing. It has gleaming modern skyscrapers on the waterfront, and if you travel just a few blocks inland you have very pretty, quaint brownstone neighborhoods where everybody knows your face. From my experiences in Williamsburg, it is kind of junky looking...lots of ancient warehouses and run-down buildings. Just my opinion. (FYI, there are nicer parts of Brooklyn, too).
77 Hudson on the Jersey City waterfront is a Toll Brothers building, which means that it is not well constructed. However, it is nice looking, you have one of the best views in the metropolitan area, and you are near everything.
Come to Downtown Jersey City and check it out for a day, or two. Stay in the Hyatt on the waterfront, and walk around. Then check out different parts of Brooklyn in the same manner. Whatever you do, I'd recommend renting in an area first.
You obviously are biased , Downtown Jersey City was built around alot of warehouses just like Williamsburg, the only aesthetically pleasing areas in JC is the VVP neighborhood. And no the "scene" is not similar. Williamsburg are much younger and "artsy" hipsters. Downtown JC is more Manhattan communters with the exception of Grove St. where hipsters seem to gravitate. As far as gentrification Williamsburg is loaded with nightlife and constant goings on, Downtown JC is generally dead at night with the exception of a handful of bars, mostly because it is an older commuter crowd that resides there, and generally the younger crowd goes to NYC for nightlife with the exception of a few local JC bars. As far as 77 Hudson it is selling at a snails pace but thats all I really know about that, Williamsburg in general is pricier because it is the "IN" place to be.
We own a condo in another KHov developed property (on Route 440 in Jersey City) and it turned out to be the most regrettable decision we made. The biggest complaint we have is the construction quality. On the outside it does look very good and expensive. However, living there for 3 years now (the place is almost 5 years old), the quality is beginning to show. Additionally their sound insulation is the worst - we experience many sleepless nights.
We would recommend talking to other Jersey City Realtors who know about KHov condos. We are not the only ones, we've asked our neighbors and they've made same complaints. We've since checked out 77 Hudson and felt that the sound insulation was not of top quality. We would highly recommend testing out before.
Their post-sale service is not great either. Maybe due to the recent downturn, they've not responded to our board's requests to fix the simplest items. I would check out other KHov before making the purchase - they have mostly mixed reviews.
what is so bad about the sound quality? outside noise or neighbor noise?
You obviously are biased , Downtown Jersey City was built around alot of warehouses just like Williamsburg, the only aesthetically pleasing areas in JC is the VVP neighborhood. And no the "scene" is not similar. Williamsburg are much younger and "artsy" hipsters. Downtown JC is more Manhattan communters with the exception of Grove St. where hipsters seem to gravitate. As far as gentrification Williamsburg is loaded with nightlife and constant goings on, Downtown JC is generally dead at night with the exception of a handful of bars, mostly because it is an older commuter crowd that resides there, and generally the younger crowd goes to NYC for nightlife with the exception of a few local JC bars. As far as 77 Hudson it is selling at a snails pace but thats all I really know about that, Williamsburg in general is pricier because it is the "IN" place to be.
I disagree with much of your post, but then again most of it is opinion related.
I disagree with much of your post, but then again most of it is opinion related.
Not true, you're just saying its opinion based because you're upset. Please explain to me what parts of my statement are untrue.
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However, it is nice looking, you have one of the best views in the metropolitan area, and you are near everything. 
Thanks
