I'm interested in a New Construction Condo I recently saw at 77 Crescent Ave, Jersey City

Asked by Michael Serrano, Williamsburg, Brooklyn, NY Mon Apr 14, 2008

This Property is bet. Astor Pl. and Communipaw. The neighborhood leave much to be desired, but I have heard that there is a lot of re-development plans coming soon. I have taken a drive around and notice there are some new condos and homes going up. Any advice on the neighborhood? Safety? Would this be a wise investment? The price of the Condo is amazingly low, but it is Gorgeous! PS 22 is on one corner and Lincoln HS is on the other. Any advice, Info, suggestions are greatly appreciated. I currently live in Williamsburg, Brooklyn (which is under heavy re-development at the moment) Looking to make the move to Jersey City to be close to work and family.

Thanks.

Mike

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Nader Rezai, Agent, Jersey City, NJ
Mon Apr 28, 2008
BEST ANSWER
Hi Michael, while I would agree with the previous response that Jersey City is rapidly changing and there is a lot of new construction, the area that you refer to is what I call in the 'cracked egg stage' and this leads me to question, with the economy and real estate where it is at, how rapidly will this area become a desirable omelet of choice? Furthermore this area has a lot of foreclosure properties and for home owners this in not necessarily a good thing. You should ask yourself things like how long are you realistically going to hang on to this property? What other areas in Jersey City might be better options? Jersey City is one of the largest city's per in New Jersey so there are a lot of neighborhoods to choose from. What is your real price range? Areas that are already converted and that offer easier access to the city may cost more but these areas are likely to hold their value during conditions such as the current market and when the market goes back up, prices in these areas will respond exponentially better. If you need an agent to assist you, please call me and I will be happy to help you further. Check out my website for my contact info. If I don’t hear from you, I wish you all the best with your purchase.

Regards,
Nader Rezai, Real Estate Professional
nader@hudsongold.com
Web Reference:  http://www.hudsongold.com
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Munish Sawhn…, , Summit, NJ
Thu Apr 24, 2008
Hello Michael,
You are right about Brooklyn, I was there 2 days ago and was amazed at the speed its growing.
Coming back to Jersey City. Please understand that this city is growing rapidly and there will be a great opportunity to build equity in the near future. Since the price is low, whats holding you back?
People today want to spend less and less time to travel to work and if you can accomplish both good price and close to work. i think you have a home run.
Enjoy. call a realtor for more advice.
Thanks
Munish
munish@kw.com
for more new construction properties in Jersey City, Please visit the website below
Web Reference:  http://www.kwVIPteam.com
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