Market Conditions in 07302>Question Details

Zawgyi76, Home Buyer in 07302

What is the average sale price/ sq foot of a place in Paulus Hook, Jersey City, NJ?

Asked by Zawgyi76, 07302 Fri May 29, 2009

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Your best bet is to sit down with your Realtor once you've identified the property that you're interested in and make an assessment based on the building, amenities, size, etc.

Maria "Carme" de Sagun
Sales Associate/Coldwell Banker
15 Nardone Place
Jersey City, NJ 07306
Office: 201.963.1400 ext 156
Fax: 862.345.3480
Cell: 678.770.1400
http://www.mariadesagun.com
http://www.jerseycityexpert.com
0 votes Thank Flag Link Tue Oct 20, 2009
Hi,

I recently did a cost/sqft analysis for Paulus Hook and the average came to about 500/sqft. This can fluctuate depending on the building, etc. but as of 7/09 the average is $500/sqft in Paulus Hook.

Feel free to contact me if you have any questions about a specific building or if you would like me to send you the analysis. I have one for each area of Downtown JC: Hamilton Park, Van Vorst, Paulus Hook, etc.

Best,
Chris Amberg
Weichert Exchange
Cell: 917-428-8317
Email: camberg@weichert.com
0 votes Thank Flag Link Thu Jul 2, 2009
It's definitively not a good idea to use price/sqft to evaluate a property, specially not in this area. As per the comments below, there are many variables that make it unfair to gauge properties this way, such as:
1. The type of home (new vs. old, high-rise vs. brownstone)
2. Exact location (waterfront vs. inset, proximity to Path, surrounding buildings)
3. Amenities (parking, view, deck, yard, gym)
4. Size of home (1-bed vs. 2-bed, single-multi family)

As an example take a 600SqFt 1-bed on York & Washington for $340K - elevator bldg, no parking, 5yrs old. Price per sq/ft would be $523.
Then compare to a 1200SqFt 2-bed on Essex St for $550K - parking, 4yrs old, elevator blg, doorman. Price per sq/ft would be $458.
Not a fair comparison. Case in point.

Your best bet is to speak with your Realtor about specific properties and requirements, and let them guide you in regards to what you're getting for the money.

I hope this answers your question, but if you have any more, please let me know.

Best,

Eric J.

Eric J. Diloné
Realtor Associate
HALLIBURTON HOMES: Redefining Great Service!
Office: 201.792.4300 x 33
Direct: 646 387 8012
eric@halliburtonhomes.com
0 votes Thank Flag Link Fri May 29, 2009
I completely agree with the comments below. Real estate values are extremely localized. The blanket price per square foot numbers do not make sense when you are comparing a studio condo in a walk-up building in Paulus Hook to a 2 bedroom condo at 77 Hudson St. with direct NYC views. One should compare similar units the way an appraiser would.

What kind of property are you looking to buy or sell? Feel free to email me the details and I'll be happy to send you some comparable recent sales where you can calculate the average price per sq.ft. based on those sales.

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
201-694-8946 Mobile
201-653-4154 Fax
walterburns@gmail.com
http://www.livingonthehudson.com
0 votes Thank Flag Link Fri May 29, 2009
Price per square foot is an often abused gauge for pricing. You should really look at comparable sales data. Building amenities, interior finishes, construction quality, and building age all play a huge role in the price of a home. To say you should be paying $400 a square foot in a specific neighborhood would be a huge disservice. You are going to have a huge price per square foot range even in a very small neighborhood. Elevator buildings on the water will fetch much more of a premium then will a 5th floor unrenovated walk-up. Price per square foot is only a useful tool when pricing very similar products.

Find a home you like then ask your Realtor to compare comparable sales. That will give you a better idea of how well a home is priced.

Andres Garcia
Sales Associate, CDPE
RE/MAX Gold Coast Realty
56 Newark Street
Hoboken, NJ 07030
Direct: 201 795-5200 x340
Andres@MileSquareRealty.com
http://www.MileSquareRealty.com
0 votes Thank Flag Link Fri May 29, 2009
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