What can someone tell me about TRIO condo's in Palisades Park,NJ. I am looking at buying a penthouse

Lee
Home Buyer
07020

apartment and can't figure out if I am getting a good deal at TRIO for a PH around 720k. After looking at the average property value in Palisades Park according to zillow of around 580k; will I be able to sell this in the future for a profit or is Palisades Park not a place for the above 800k condo market?
thanks,

Answers (2)
Bobthe
Both Buyer and Seller
New Jersey

Get away!!!!! Get away!!
i have been living here for about 6 months and i'm looking to move out the maintenance staff are nice but and try to help as much as they are allow; read and get as much information as you can from people living here as most tenants are trying to move out and read all the fine print you will not get what you pay for for the price get your self a town home in the are nothing they promise you will get

Wed Dec 2 2009, 14:37
Marc Paolella,...
Agent
Succasunna, NJ
FIRST ANSWER

Hi Lee,

There's a lot that goes into determining the value of a unit in a new condominium. You're probably looking at 1904? That's the smaller 1,500 sqft penthouse. We need to know the view, the upgrades, and most importantly, how many units in the building are sold and closed. If the complex is sold out it's one thing. If the builder is having trouble selling out, you could be looking at a problem. Tarragon is offering some pretty strong incentives, so it's not like there's a waiting list to get in. Also are there firm property taxes and maintenance charges in place that are predictable over the next few years. Who is in control of the building and when will it transfer to the HOA? Buyers have a lot of choices in Fort Lee and Cliffside Park if they want the high-rise lifestyle. Trio has to compete with a favorable financial structure and amenities, because the views and the prestige are on the river.

In any case, you won't find a reliable answer from an uninvolved agent for a complex question like this. If I'm representing you, I'm going to take the building apart and figure out the likelihood of future success. If you want to discuss it further, contact me through my website.

Good luck!

Sun Jan 13 2008, 22:46

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