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Valentina Ga…, Real Estate Pro in sea girt, NJ

Why are so many units for sale in the Doric union city nj?

Asked by Valentina Gabela, sea girt, NJ Sun Feb 3, 2013

Has there been something going on at the Doric in union city recently ? There seems to be a lot for sale there ?

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I wouldn't buy there even if it was dirt cheap. There are tons of people selling simply because they want to get rid of their terrible investments. I looked at a property there and it is not worth it. The hallways are gross and outdated. The exterior of the building is also in terrible condition. Whats even worse is that the maintenance fees are ridiculously high (I believe 1k a month minimum) and that doesnt even include access to the gym, pool or parking. I think access to the pool is 200 dollars for the summer season. Not worth it, stay away and put your money elsewhere.
1 vote Thank Flag Link Mon May 6, 2013
I have lived here for over a year now after living in Hoboken for 5 years. I now OWN a huge two-bedroom, two-bath apartment with panoramic, breathtaking views of NYC and NJ, for much much less than i was paying for RENT of a one-bedroom in Hoboken. The maintenance is slightly high, but it includes ALL utilities, taxes, maintenance (doorman, garbage, snow, etc...). Taxes in NJ are ridiculous to begin with, so the high maintenance is justifiable. The building location is spectacular. Insane NYC views, pool, covered parking, deli and dry cleaning IN the building. Bus to Hoboken and NYC right in front of the building. Literally takes me 10 minutes to get to NYC in the morning for work. The hallways are dated, but they are clean. Besides, we don't live in the hallways and I believe they plan to update them shortly anyway. I rather pay $200 to access a pool than to not have a pool at all (most buildings).
Flag Tue Sep 23, 2014
It's a co-op. Take into consideration that the taxes are included in the maintenance.
Flag Thu Sep 11, 2014
I would agree the building is a bit old but some of the units there are really nice. It's a changing of the guard and they are working on improving it. I've been there for 4 years and am planning on moving out at the end of the year but the reason is I'm making more money and just want a better location. To be honest for the space, cost, transportation, and amenities I can't think of too many better options in the area.
Flag Fri Apr 25, 2014
I have a 2BR and the mat fee is on;y $723
Flag Fri Apr 25, 2014
wow. that sounds really bad. thanks danielle. I seem to be getting this feedback a lot. I will take your advice. Val
Flag Mon May 6, 2013
I am about to close on an apartment in the Doric. I have a finance degree and am an attorney. I looked at the financials and the coop documents. Everything looked great so I moved forward. The maintenance includes all utilities.
2 votes Thank Flag Link Tue May 7, 2013
HI,

I am planning to buy a apartment in Doric. Would like to know if the financials and co op documents are still looking better. Would greatly appreciate if you provide some info.

Regards,
Sandy
rsandy203@gmail.com
Flag Sat Jun 20, 2015
Are you happy you did, now that you have been there for a year?
Flag Tue May 20, 2014
You are fine. Good decision at the price points today. Danielle is right that the hallways are outdated, but I have been in many large apartment buildings where that is the case. Don't think its anything to worry about in terms of true value of a building. It is an old building for sure so yeah the outside was a bit unappealing, but from what I heard they were going to try and make some improvements to the facade and the hallways.

I would disagree with Danielle, the amenities are above average. Free shuttle to path, deli in building, dry cleaning in building, pool on premise (yes there was a seasonal fee, but not earth shattering) a decent gym for use, and about 5-7 different buses to get you into hoboken and nyc. So not sure what the issue is here, I am telling you these things from personal experience on living in the building as well as the fact that I am there a few times a month to visit friends.
Flag Mon Aug 5, 2013
I have to say I am shocked that you are buying there. May I ask what made you decide to do so? The building is in such bad shape in the exterior and the hallways. The amenities arent great at all either.
Flag Tue May 7, 2013
I saw a few units.. They look old and in need of a bulldozer. No disrespect,

Those units reached their USE BY date many moons ago.

Perhaps that explains it.
2 votes Thank Flag Link Mon Apr 15, 2013
Recently a number of units that were rented in violation of the building policy were vacated, so the owners put them on the market. Building has a new roof, new boiler, new gym, and is planning on upgrades to include repairs to the parking deck, garden, and hallways.
1 vote Thank Flag Link Wed Feb 6, 2013
I wonder if there is financial issues with the Building. Because lot of units seems to on sale. They always had the policy where units could not be rented.
Flag Fri Mar 1, 2013
What is the maintenance fee?
Flag Sun Feb 17, 2013
The doric is under major renovations this coming year. As a new shareholder, we are acutely aware of the upcoming developments on Hoboken's western edge and the proximity of the light rail (1 block away) at half the price point of all that is available in Hoboken. Considering that most of Hoboken is in a flood zone, the location on top of the palisades protects peoples investments as well as giving unobstructed views of NYC and NJ. The total height limits of the buildings in Hoboken cannot exceed 11 stories according to the latest western edge development plan, and those heights will barely clear the parking structure, allowing even 1st and 2nd floor units beautiful views of New York City. the hallways are about to get an extensive makeover, as is the pool deck and garden. The reason people are selling is that the units have increased in value approximately 25 percent in two years, and people are selling to make money on their investment. The new tenants moving in are pet friendly, family friendly with cars (due to the relatively cheap parking at $150 full valet), and Hoboken transplants tried of street parking and congested streets. All the older units are also being renovated by recent shareholders like myself. Furthermore, Jersey City heights next to The Doric is also rapidly undergoing gentrification, resulting in a couple new restaurants and art venues making the area more attractive. Also, the dog run attached to the building is fantastic for pet owners. Maintenance fees are high, considering it is a coop, but remember that includes taxes and tax deductible. This is the last good deal in the area. So if you wanna get in, get in now.
0 votes Thank Flag Link Wed Mar 16, 2016
All,

I have clients that are buying at The Doric and they have been liking the conveniences and the price appreciation over time.

I can help you personnel if you would like a help of teal estate professional
0 votes Thank Flag Link Mon Dec 7, 2015
I have lived in the Doric for 4 years now. To me, buying an apartment there was the best decision ever. I still "live" in Hoboken, I commute via Path, shop at Hoboken ShopRite, eat my lunch on Washington street but at the same time I OWN my own place, just one elevator ride away. I could never find such a great deal in Hoboken and in fact, rent there was more expensive than paying my mortgage and maintenance!! And even though the cost is not hight at all, it feels like living in a luxury building with doorman, mailroom, dry cleaners and a deli. It has great community feel. I have lived on my own the last 4 yeas and felt super safe. I honestly think the bad opinions here are from people that find Doric apts a competition.
0 votes Thank Flag Link Tue Apr 28, 2015
What are the best lines for views of NYC?
Flag Mon Sep 28, 2015
Unauthorized renting was cracked down on- which is good for us who own there. The more owner occupied units- the better value we have and the better rates we all get for mortgages ,etc. I have lived here for 7 years and I LOVE it. convenient, safe, huge apts and lots of closets. The fees are lower than average once you factor in taxes for sure. Trust the opinions of the people who actually live here.

oh- the hallways are outdated but clean and they are shampooed,etc regularly. I will take outdated as long as it clean!
0 votes Thank Flag Link Fri Dec 5, 2014
Why anyone would choose to rent, much less buy in this building is beyond human intelligence.
The building needs to be torn down and rebuilt. Regardless of the bandaids they have "upgraded" here and there. Tear it down and do over, please. I went to see a unit there and the hallway lobby looks like a jail lobby you see in movies. Then the unit was unsightly and dilapidated. Hallways reeked of mildew. And pregnant women all around. Yuck, not my scene. Sorry, no disrespect. And, not to mention all the add ons for any of the so called antiquated amenities. Top of all that mess, you must pass a board approval. Well, i had no idea i was moving into 700 Park Avenue, NYC. No friggin thanx. Ill pass.
0 votes Thank Flag Link Wed Dec 18, 2013
This is an exaggeration. I live here with my wife and two kids. Never sensed or seen any mildew. Spectacular views (million dollar views), great units, a pool that costs $150 fpr my kids and I every Summer, free shuttle to path, deli, dry cleaner, pizzeria, park, tennis courts across street and extremely cheap parking ($150 a month). Downside is hallways and exterior. But that's what gives it value. And the hallways will be updated soon. Great spot, resurgent and undervalued.
Flag Sat Oct 18, 2014
I lived in the Doric previously for several years and have friends/family there at the moment. Unfortunately some of the comments here are just outright incorrect. barb is actually along the right line. The doric found that many apartments were subletting against policy and had to make some changes to policy in order to maintain the integrity and value of the building. As a result, many of those "illegal" renters were forced to move out and resulted in a big increase in apartments listed. Not ideal, but nothing to be afraid of. Just read the policy on subletting before you get in.

Maintenance fees are not ridiculous high by any means. When i lived there I paid $650 for a 1BR and 2BR fees were between $900-$1,100. I don't find that ridiculous if you compare around. And along the standard lines includes all utilities + taxes.

To Anthony's point, conditions of units vary greatly, I agree there that some are very outdated and need upgrading. When i bought, i had to gut the entire thing and renovate it all. The upgraded apartments though look great and if you saw them you would agree. So you can either buy an outdated one and fix it up or there are many on the market that are already upgraded very nicely.

I am not trying to say its the best place in the world, but the value is there and I would say its a solid buy at these price points. Financials are in order as well last time I checked and the coop board was doing a solid job.

hope this helps.
0 votes Thank Flag Link Mon Aug 5, 2013
Do you think they are a good buy now
0 votes Thank Flag Link Wed Feb 6, 2013
Many units are priced at prices below market. Doric is less than a 10 minute walk to Hoboken, and maintenance includes all utilities and property taxes. It is a good buy for a person who wants to live in their unit. Plus, the swimming pool is great in the summer, and there are free tennis courts a block away in the park.
Flag Fri Feb 8, 2013
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