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Confusedbuyer, Home Buyer in Jersey City, NJ

I am interested in buying a 2BR Condominium in Port Liberte (phase III). Is it a good investment if I intend to sell the home in 3-4- years?

Asked by Confusedbuyer, Jersey City, NJ Thu Sep 10, 2009

Also, is it better to buy a condo in Jersey City close to the Grove Street PATH station in comparison to something similar in Port Liberte?

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Answers

9
Port Liberte now has a shuttle as well as a bus and Ferry. Transportation is available from 6 am until midnight every day except Sunday which is to 9 pm.
You get more for your money here than downtown. This is what I refer to as "suburban Jersey City"
If you visited Port Liberte in the summer months, you would think you are in a resort.
You cannot find a safer place to live. Great place to live!
1 vote Thank Flag Link Mon Oct 5, 2009
Port Liberte does have future development planned. The Applied Companies do have approvals for future buildings within the Phase 3 area, so there will be development there in the next few years.

There is also a development planned for the north side of Liberty National Golf Coarse, near the club house. The approval shows 3 residential towers overlooking Liberty National Golf Course & New York City.

Future development is something that is hard to avoid in either downtown Jersey City or Port Liberte.

I agree with your resort statement.The buyers who move to Port Liberte like the amenities associated with the community. Port Liberte is the closest thing to living in the suburbs without living in the suburbs. It's a different lifestyle than downtown Jersey City. Buyers either love the community or do not.

Walter J. Burns
Realtor-Associate
Weichert Realtors
1 Newark St.
Hoboken, NJ 07030
201-653-8488 Ext: 230
347-4-HUDSON Direct
201-694-8946 Mobile
201-653-4154 Fax
walterburns@gmail.com
http://www.livingonthehudson.com
1 vote Thank Flag Link Fri Sep 11, 2009
There are too many great things in Port Liberte, it is the best family oriented community in JC! New York Daily News names the pool at Port Liberte “BEST OUTDOOR POOL”. Great tennis court and Dave, tennis coach, is fantastic.
Did I mention the view? You can observe kids around fishing, playing soccer and ice-skating.
The size of apartments and town houses is pretty good!
The people are very friendly and I have enjoyed my 4 years in the community.
0 votes Thank Flag Link Tue Feb 18, 2014
I currently live in phase 1. Curious, where is the ice-skating? I would love to join in:)
Flag Wed Feb 19, 2014
I would never buy here and would strongly advise against renting here. My husband and I came into this with intentions of buying. We moved in Phase 1 (East Shearwater Court--top level penthouse) and it was a nightmare. The owner did not care about the unit. It was so poorly maintained that nothing worked--dishwasher, heat in winter, AC in summer--all of which were guaranteed in our lease. Not to mention we had mold growing in our bathroom sink and master shower. Everything was falling apart and management was terrible. Moved out after Sandy because the owner didn't want to pay for repairs. We moved into Phase III. While we love the apartment, there are still major issues with the lawsuits going on--anyone who buys will be required to chip in (so we have been warned by neighbors) for the fault construction suits. The whole of Port Liberte has been hit hard by Sandy. Tax assessments (read: increases for owners), lawsuits for faulty construction, etc. Took four months for elevators to come back in some Phase I buildings. We didn't have parking garages for months either. Still no gym--being told it will be another four months (for a grand total of 10 months without a gym) for that to be fixed. Take your money elsewhere. The monthly maintenance fees aren't worth what you're getting.
0 votes Thank Flag Link Tue Mar 5, 2013
I moved into Port Liberte in 2013. The gym was up and running as of November 10. It's a pretty darn good gym, and a few ladies offer pilates and yoga group training for an added fee. There are spin bikes but no spin instructor. There's also personal training for an additional fee.

There are no tax assessments coming, however, the units are PILOT'd units and the PILOTs run out between now and 2020 (depending on the phase you're in). I'm in a townhouse in Phase 2.

Each unit has its own pluses and minuses. When I bought the townhouse it needed a facelift, but I priced that into my offer. I couldn't be happier with the result of the work I had done to the unit - most of which I saw done in other similar units that were for sale when I was buying this one.

It really is the 'burbs within a city. You will have to drive to the grocery or to bars and restaurants. However, if you want a quiet neighborhood with friendly neighbors and an AMAZING pool, then Port Lib might be for you.
Flag Thu Jun 26, 2014
Do any realtors or insiders have info on the following:

- unplanned assessments of $10K every two years or so,
- water / infestation issues, esp for properties closer to the water,
- pipe and other infrastructore issue longevity issues.

Looks like a mix of happy / unhappy owner / renter reports on kannekt. just google "port liberte reviews".

Does anyone have annual sales statistics, e.g., number sold, mix sold, price sold, avg price per sqr ft, etc, going back to 1999.

You can see some basic numbers dated to 1999 here: http://www.jerseycityonline.com/Porte_liberte.htm. Appears that prices were around $260-$270 per sqr ft back then. So circa $300 / sqr foot seems like a good price for now, but national prices are bound to go down, and bonuses on Wall Str seem to be down this year, backloaded, and a lot of restricted stock, so spending will be tight.
0 votes Thank Flag Link Sat Jan 30, 2010
Confused Buyer,

I can show you some insider info on recent sales in both areas, this would allow you to see which area is more popular.

For resale value close to the PATH, cannot be beat.

However prices in Porte Liberte right now are an absolute steal.

You can get a 2 bed 2 bath for under 450k right now.

It would be very tough to get you in a luxury building by the path for that price!

You will spend more by the Grove St- Path. But the value will be there.

However at the current prices at porte Liberte. Trust me you can find awesome deals right now.
quiteHope this helps! Happy Home-Hunting,

You can actually search through all the Port Liberte And Downtown Jc by the Path Condos at
http://www.NjVipBuyer.com
Web Reference: http://www.HomeInfoNj.com
0 votes Thank Flag Link Wed Oct 14, 2009
As a potential buyer (we currently rent in downtown and are looking to possibly buy) I would not buy in Port Liberte because of the transportation issue. The great draw to JC downtown is the PATH train, which runs regularly 24 hours to/from NYC. My fiance, who works long hours, is door to door in 25 minutes to the City. This is the reason why we live here, aside from liking a more "city" feel.
We have looked at Port Liberte and have ruled it pretty much out. Its a nice place, and you do get a little more for your money, but the inconvenience factor is a dealbreaker for us. If it was SIGNIFICANTLY less expensive, then we would think about it.
Speaking of which, why don't they get a light rail to go there?
0 votes Thank Flag Link Fri Sep 11, 2009
Thank you for your quick response, Walter. What you said makes a lot of sense especially when it comes to buyer preferences in terms of convenience. I will continue looking for deals around and buy when I feel it's the best deal I could get on the place. Also, do you think Port Liberte will have the appeal to a buyer seeking luxury (upscale resort like) condos even after a couple of years? I believe that people seeking such places usually own a car and have a mindset that makes them willing to travel some distance for shopping malls, department stores, movie theatres, transit etc. I have also heard that there might be more construction underway in Port Liberte (a few more phases might be built till 2012) and so I am skeptical if buying at the current condo prices will give me returns more than 20 - 25%. Any further thoughts on this will be greatly appreciated.
0 votes Thank Flag Link Fri Sep 11, 2009
Most of the Jersey City buyers I work with usually consider looking in downtown Jersey City first before looking in Port Liberte. Since Port Liberte is a mostly a drive-in/drive -out community, buyers who do not own a car or don't want to use a car very often usually eliminate the community from their search.

The Grove St. area has become more and more popular in the past few years especially since Gulls Cove & Liberty Harbor was built. The one major advantage this area has over Port Liberte is that the PATH Train is within walking distance. Many buyers try to avoid a multi-fare commute, bus to path to subway, etc.

I know prices have come down in Port LIberte and there are some great deals right now. While we can't say exactly how much the condo will sell for in 3-4 years, many signs indicate that we are nearing the bottom of the real estate market, if not at the bottom. So buying low would be a good thing in this case.

In the end I suggest buying in a location which you like and makes you feel comfortable. In 3-4 years you will find a buyer who likes either area since properties are bought & sold all of the time in both locations.

Please let me know if you have any additional questions. I'll be happy to assist.

Sincerely,

Walter J. Burns
Realtor-Associate
Weichert Realtors
1 Newark St.
Hoboken, NJ 07030
201-653-8488 Ext: 230
347-4-HUDSON Direct
201-694-8946 Mobile
201-653-4154 Fax
walterburns@gmail.com
http://www.livingonthehudson.com
0 votes Thank Flag Link Fri Sep 11, 2009
What's going to happen with the property taxes?
Flag Wed May 29, 2013
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