Forget the current low interest rate situation. Manhattan's resurgence as a hub for tech startups that pay high salaries has been a boon to the Jersey City market. But a bursting tech bubble in Manhattan coupled with a glut of rentals (estimated around seven THOUSAND) coming online over the next two years is going to spell trouble for condo owners in JC because there will be rental-to-condo conversions of older rental buildings to balance out rental unit supply and alot of those high-paying tech jobs are going to vanish into thin air very quickly. There are very few units on the market in JC right now by historical standards, so a spike in inventory when these rental-to-condo conversions happen will drive down condo prices. Right now is a terrible time to buy in downtown JC and I'd be trying to sell if I owned a condo there.... more
i live and invest in the neighborhood so I am comfortable and familiar with the area. I've just begun renovation of a 4 unit building on 4th Street between Monmouth and Brunswick. I also live nearby at Monmouth and 1st.
The neighborhood you are interested in is known locally as 'he Village'. I think it would benefit you to check out the neighborhood association. Here is the website, http://jcvillage.org/
Let me know if I can be of further assistance.
Jason Ma, MSRE
(201) 314-1188 mobile
(800) 831-9207 fax