If you can afford the cost of these condos, maintenance and taxes, it's worth buying. In my opinion, for the cost you can get brand new construction. The Manhattan view is great, but I have the sunset, west view which is great. I have many years of beautiful photography. I will miss this place and my dear neighbors once I move.
Good luck with your search. The commute into NYC is awesome. I find it quicker then living in Queens. My friends find the commute from NY to NJ easy and cheap.
Obviously, this isn't the greatest place to raise a family but it is perfect for the young professional that work in NYC and are looking for a great real estate investment. Hoboken is literally within walking distance, your a mile away from Washington St. in Hoboken, and might I add, one of the nicest streets around NYC, you are 15-30min. door to door for commuting in the morning.
In 4 to 5 years, this place will appreciate over time..GAURANTEED!.... And the area is not so bad, it is just like any of the boroughs around Manhattan, believe me I know, I looked everywhere.
Me and my girlfriend will be moving in a month and we are counting the days!
P.S. Avoid purchasing co-ops ..................they are the worst, not to mention the poor return on your money when you go and sell them.
Hoora........................for the Lenox........................
I agree though, definitely a buyer's mkt especially with values expected to slide until 2010. Prices seemed high for the place, if they lowered I was thinking about it.
Any recommendations on other locations? I'm looking for a 2bd $300k-$400k