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Gabriella, Home Buyer in Jersey City, NJ

Is the area around Liberty State Park ever going improve like downtown did? It is so close to the waterfront

Asked by Gabriella, Jersey City, NJ Fri Nov 7, 2008

and transportation and filled with beautiful brownstones it seems like it can improve. However when I drive through the area some house have metal cages around the porches and bars on all the windows, that is always a bad sign... any thoughts? Would it be a bad idea to move there so soon, even if I got a great deal?

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6
I don't know. It might, but it's not worth it to me. I'm looking too and I notice that only realtors that have homes listed in the area are answering your question favorably. I have also looked at homes in that area. There are some nice ones, but the owners want a mint for them despite the fact that the rest of the block looks like nuclear fallout! If I'm not getting a true deal, there's no incentive to tough it out in the hood. I'd rather spend my money in an established neighborhood. There's no guesswork, hopes or prayer involved. A home is a BIG investment and i'd rather not get stuck in a $300K condo in the middle of a Brownfield. If you're a gambling woman with no kids, a black belt, a pit bull, a 12 gage and get a GREAT deal; go for it! If not, don't waste your time. You can get the same prices in better areas anyway.
0 votes Thank Flag Link Fri Dec 4, 2009
I must say this is definitely a great area to invest in and buy NOW! The Conrad Hilton is coming in the near future which will add a sophistication and more popularity to the area. It's also a beautiful location with all the views of NYC. Recently a beer garden was opened up and it's a HIT.

Hope this helps.

Best,
Millie Velez
0 votes Thank Flag Link Thu Nov 19, 2009
just consider the factors are there amenities is it safe not because an area has beautiful homes means it is desirable. Consider as the real estate market softens people who would once purchase in these areas can get better bargains in already established neighborhoods i would not invest in any area in this market that is not desirable or decent with the rate that the market has appreciated we are bound to see extensive price corrections especially in areas that are not very desirable not because an area is close to Manhattan does not make it desirable you have to look at the specific location the schools, crimes, and the status of the neighborhood. For the realtor who spoke of million dollar brownstones those brownstones are no longer selling at that rate for instance you can know purchase a single family home in downtown with parking that needs some work for 379k the price folks where paying for a 1 bed condo in bergen lafayette you do the math i think a single family home in an established area far exceeds an investment in an "IF" neighborhood

good luck
0 votes Thank Flag Link Sat Feb 21, 2009
My wife and I are buying in this area. We're in our early 40's and have lived in JC for about 2 years after living in the East Village. We believe it's a hidden gem of JC and are very confident in its future because of its proximity to Liberty State Park (LSP), the light rail, and to downtown. We're getting a really excellent deal on a home purchase.

One reason it remains a "hidden" gem, in my opinion, is that the major artery leading into LSP take you down roads that are lined with cookie-cutter lower-quality housing with bars/cages - Johnston Ave. and eastern Pacific Ave. However, once you go only a couple blocks west of Johnston the housing stock changes dramatically. There are some really beautiful old buildings there between Maple and Communipaw.

We've spent a long time researching this, and have spent countless hours walking around the neighborhood. It's a friendly area, certainly not without its problems but I think one could have said the same about the Grove St. area several years back. There's a lot of development planned in the area (see the Lafayette section of http://www.thejcra.org), including the 18-acre Berry Lane Park, which will replace much of the industrial wasteland along Garfield/Communipaw.

It won't ever be an area to rival the beautiful rows of brownstones closer to downtown, but I think that years from now, this will be a very desirable area to live. That's why we're getting in now. Good luck!
0 votes Thank Flag Link Thu Feb 19, 2009
As the developer of Library Hall Lofts in this area and as someone who has been involved in many other transactions as a Realtor in Bergen Lafayette, I've seen enormous change here over the past few years. I often relate it like this to perspective buyers; around Manhattan you either get in before the curve and tough it out for a few years as the neighborhood comes to you, or you wait and often find yourself looking further away for the next hot area because you're now priced out of the one you passed on a few years before. I have expert knowledge of the neighborhoods around Liberty State Park, and I'd be happy to share it with you.

Larry Brush
Empire Realty Group
201.686.4227
0 votes Thank Flag Link Fri Nov 7, 2008
Like everything else, when the time comes this will be hot also. Back in 1995 in Jersey City, by colgate.. Brownstones were selling for $70,000. they are and have been over 1 million since

Not to say that this will happen here.. but you do not know. it is very close to NYC and the water. Make a smart choice. There aare some great buys in that area.
0 votes Thank Flag Link Fri Nov 7, 2008
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