From the Real Deal:
The Gold Coast of New Jersey has gotten so hot for developers in recent years that in many areas near the waterfront there is hardly any land left to go around.
The land grab has pushed prices to record levels in some areas as buyers from around the world swoop in and snag the remaining plots. Developers forced to buy land at higher prices are now planning to build condominiums rather than rentals, a relatively new trend for even the most popular areas of Jersey City in Hudson County.
“Everything we had is under contract or sold,” Brian Whitmer, a senior director at Cushman & Wakefield in East Rutherford, told The Real Deal. “Now the expectations by sellers are that their land will be sold for condos because that pricing is much higher.”
Last June, Strategic Capital — the investment arm of China Construction America — paid a reported record $55 million, or $121,000 per unit, for the land to build a 37-story luxury condo building at 75 Park Lane in Jersey City. Strategic Capital is also planning to build a seven-story condo property with 48 lofts nearby at 2 Shore Drive North, the company said.
In November 2015, a much smaller site in the “Soho West” area of Jersey City sold to Hoboken Brownstone Co. for $6.5 million, or $118,000 per unit. Land priced for rental apartments in that neighborhood is significantly lower, around $70,000 per unit, Whitmer said.
Those deals follow in the footsteps of the $500-million mixed-use condominium building at 99 Hudson Street in Jersey City, which began construction a few months ago. The 79-story building, developed by China Overseas America, marked the first condo project in Jersey City in eight years. It will also be the tallest building in New Jersey once completed.
Land prices per square foot in Hudson County — one of the areas in closest proximity to Manhattan — nearly tripled to an average of $81.76 in 2015 from $32.66 in 2006, during the last boom market, according to data from CoStar.
The interest in Jersey City now extends deeper than the waterfront as well. Luxury high-rise developments going up around Journal Square are pushing up prices in that area. A small plot at 823 Newark Avenue sold in 2003 for $475,000 and then traded hands again in December for $1.2 million.
“People keep pushing further and further away from the waterfront, which points to the sustainability in this boom,” said Joseph Sollazzo, real estate economist at CoStar Portfolio Strategy.
Still, analysts are questioning how long the boom can continue. Average prices for land per square foot have dropped so far in 2016, even in Hudson County, though the year is far from over. And an analysis by TRD showed that total land sales volume in the first quarter of 2016 is down — in some cases significantly — versus the first quarter of 2014 and 2015 in Bergen, Hudson and Essex counties. Morris County bucked the trend, with much higher first-quarter sales volume year over year, while Passaic remained about the same. It may be that the pricing has become prohibitive for buyers.
“We’re in the seventh year of this recovery, so the question is will prices pull back a little or will they continue to rise?” said Brian Hosey of Marcus & Millichap.
For now, the influx of people who have been priced out of Manhattan and Brooklyn — and more recently Jersey City and Hoboken — is driving up prices in other parts of New Jersey.
Good Morning New Jersey
Gold Coast soon to be Mold Coast.
Friskies eaters, get ready. BOOOYAAAAAAHHHHHH!!!!!
In Brooklyn for meetings. After SI traffic of course
God, I’m glad I only have to do this drive 2x a year
Still have never actually stepped foot on Staten Island.
That’s our future President.
Grim says:
June 6, 2016 at 8:44 pm
http://www.cnbc.com/2016/06/06/hillary-clinton-wore-an-armani-jacket-during-a-speech-about-inequality.html
Jersey City’s problem; how much more growth can the rail lines support before they are maxed out in capacity? Christie’s dumb a$$ should have never killed that tunnel project. Really shot this state in the foot. Nj growth is dependent on improving access to nyc, anyone with an ounce of business smarts would see that. Guess Christie lacks the capability to see the big picture. Instead he kills the project on claims of corruption, like corruption isn’t a part of the game anywhere in this world. Loser!! Took that money and spent it on what? Who knows. Guy also cost us 400 million in education funds. Biggest loser ever.
http://www.bloomberg.com/politics/articles/2016-06-06/n-j-bridge-conspiracy-figure-urges-judges-to-keep-name-mum
The chatter around the folate-autism linkage is incredibly disconcerting (recent John’s Hopkins paper).
[5] grim
From what little I’ve seen in my times off 278, you aren’t missing anything
Traffic not too bad. 3hrs door to door from near Chadds Ford PA to Brooklyn
“The Fed chair underscored her sense that the U.S. economy still has forward thrust and that consumers were in a position to provide a “significant” step up in spending this quarter to propel overall growth. But she was silent on when another rate increase would be needed, playing down a June move and raising doubts about July.
“I see good reasons to expect that the positive forces supporting employment growth and higher inflation will continue to outweigh the negative ones,” she said in Philadelphia before the U.S. central bank enters a self-imposed quiet period before its June 14-15 policy meeting.
“I continue to think that the federal funds rate will probably need to rise gradually over time to ensure price stability and maximum sustainable employment in the longer run,” she said.”
http://www.bloomberg.com/news/articles/2016-06-06/yellen-says-fed-still-wants-to-raise-rates-but-signals-no-hurry
@pourmecoffee
If your campaign is spent arguing a particular judge should grant summary judgment in a civil case,
maybe being president isn’t for you.
Staten Island..1961-1987…I recall the unpaved streets until age 5-6….I will say Ps.55, IS 7 and Msgr. Farrell education blows away what my 2 kids received here (youngest just graduated HS)
http://www.bloomberg.com/news/articles/2016-06-06/playboy-mansion-to-sell-to-hostess-owner-for-over-100-million
GOP’s broken (the good one):
And if you think wiping a server clean means using a cloth, maybe that would disqualify one from being president as well.
Comrade Nom Deplume. Citizen, 2nd Class. says:
June 7, 2016 at 8:35 am
Traffic not too bad. 3hrs door to door from near Chadds Ford PA to Brooklyn
They finished 278, so at least you are driving on new highway to Verrazano
NJ Primary today. Over the weekend, AP called the democratic nomination for Hillary; Hillary shills on Twitter today pulling their hair out in GOTV efforts since its not quite iced yet — afraid Hillary voters will stay home (Enthusiasm Gap, Hill?!?).
Building Healthy Relationships (jj Edition):
A mom is breastfeeding her boyfriend – 20 years after having children.
Jennifer Mulford took time off from her job as a bartender to induce breastfeeding because she wants to start an Adult Breastfeeding Relationship (ABR) with Brad Leeson.
Because she has not given birth to a baby, she and Brad, 36, need to “dry feed,” every two hours to fool her body into thinking she is feeding a child so she starts producing milk.
Jennifer was single when she stumbled across a website about ABR.
She said: “When I read about the bond breastfeeding could create between two people I was envious.
“I have always enjoyed my breasts being touched during sex more than anything else, so I knew I would enjoy it.”
Jennifer, from Atlanta, started searching for men who be open to the idea of adult breastfeeding.
“When I read about the pure joy it brought others, I was desperate to seek out a partner to share an emotional bond with.
“I used dating sites, put messages on ABR forums and even put an advert on Craigslist, but I drew a blank. I started to think I’d never get to try adult breastfeeding.”
Finally, she started chatting about the idea one night with Brad, an old boyfriend from school.
“We were talking and Brad told me he had a thing for big-breasted women, and that size had always been a factor in his relationships.
“I thought it was the perfect time to bring up adult breastfeeding – and see if he’d be interested,” said Jennifer.
We both wanted the same thing out of the relationship – a magical bond that only breastfeeding an achieve.
– Jennifer Mulford
Thankfully, Brad was instantly open to the idea. “It was like a light switched flicked in his head. I could tell from his voice that he was curious and excited.”
He started doing his own research into ABR and they soon became more than just friends.
She said: “At that moment I knew that I had a partner for life.
“We both wanted the same thing out of the relationship – a magical bond that only breastfeeding an achieve.”
Because Jennifer hadn’t breastfed for over 20 years, she had no milk to feed Brad.
The couple need to induce lactation by dry-feeding and pumping her breasts every two hours, just as if she was feeding a baby.
Protests backfire as anti-American images push undecided voters to Trump
http://www.washingtontimes.com/news/2016/may/30/donald-trump-rally-protests-backfire-as-anti-ameri/
Adult breast feeding? Paraphilic infantilism?
You’ve morphed over the years from Libtard to
“Hillary’s Cankles are ground zero for Zika virus”
?
Ral(ph) Lau (ren) closing 50 stores and laying off 1000 employees.
ok, as long as you don’t tax them
@SenSanders
Lincoln said, “Of the people, by the people, and for the people,” not “Of the billionaires, by the billionaires, and for the billionaires.”
well, you too fat to fit in those clothes anyways
Alex says:
June 7, 2016 at 1:09 pm
Ral(ph) Lau (ren) closing 50 stores and laying off 1000 employees.
Daily Mail reporting the NJ Zika baby will cost taxpayers $1 million
http://www.dailymail.co.uk/news/article-3623706/Mother-Zika-baby-born-New-Jersey-says-flew-America-seek-treatment-doctors-Honduras-underestimated-symptoms.html
“Hillary’s Cankles are ground zero for Zika virus”
I’m simply continuing my theme of taking what Otto and A-none and reflecting that in my name. Otto feels that is not just okay, but that it should be encouraged that those who contract the Zika virus should come to the United States for treatment regardless of their ability to pay. The Twitiot, feels that I am being misogynistic over my infatuation with grandma Hillary’s elephant femur.
“Daily Mail reporting the NJ Zika baby will cost taxpayers $1 million”
Zika Baby – Pitbull ft. Drake
$1M is a joke. They’ll burn through that at the hospital before being discharged. The range in the article is from $1-10M and I’d lean toward the latter. This will be a huge boost for Trump with absolutely gouging us and treating us like fools.
*warning* there is no blurring of the video when Tensing gets to the car after the crash.
http://www.theguardian.com/us-news/video/2015/sep/01/samuel-dubose-killing-full-dashcam-video
BTW, his license was suspended and he had two pounds of marijuana and a couple grand cash in the car. The cop is being tried for murder.
BTW, they already paid off the family.
Details of the DuBose settlement include:
payment to the DuBose family of $4.85 million.
tuition-free UC undergraduate education for DuBose’s 12 children.
an eventual on-campus memorial to DuBose.
an apology from UC President Santa J. Ono.
and an invitation for DuBose’s family to participate in Community Advisory Committee meetings aimed at creating comprehensive reform in the university police department.
http://www.cincinnati.com/story/news/2016/01/18/uc-sam-dubose-family-reach-settlement/78957824/
31- What a joke. Taxpayer is on the hook for millions because this dude can’t follow the law, and tries to take off on a cop. Only in America do we protect criminals like this and then blame a cop with murder for doing his job. Ignorant human beings do whatever they want, even when an armed police officer is talking to them. This is a clear example of this. Black lives matter will claim racism, but I’ll call it like I see it. Nothing to do with racism and everything to do with ignorance. Enough of this bs.
Can I go puke now? I don’t even know what to say. I guess all I can say is vote trump. Call the guy whatever you want, but someone has to have the balls to put an end to people taking advantage of America. If your own country won’t help you, don’t fuc!ing come here to take advantage of hard working Americans that are barely getting by.
D-FENS says:
June 7, 2016 at 2:59 pm
Daily Mail reporting the NJ Zika baby will cost taxpayers $1 million
http://www.dailymail.co.uk/news/article-3623706/Mother-Zika-baby-born-New-Jersey-says-flew-America-seek-treatment-doctors-Honduras-underestimated-symptoms.html
Yup.
We are fools. We are in debt, but we somehow have millions to pay for some other country’s problem? Print up some money, let’s save the world!
Best part, the rest of the world hates us! Really can’t make this stuff up.
nwnj3 says:
June 7, 2016 at 3:40 pm
$1M is a joke. They’ll burn through that at the hospital before being discharged. The range in the article is from $1-10M and I’d lean toward the latter. This will be a huge boost for Trump with absolutely gouging us and treating us like foold.
31-
So let me get this straight. No one is acknowledging that an innocent life(s) could have been lost in the high speed chase that was ensue if this cop didn’t shoot him? What’s the answer, just let him take off and don’t chase him? Or do you chase him and risk putting innocent lives at risk? Or do you shoot the ignorant jackass taking off in his car in a traffic stop? Cop did what he had to do. Why no blame is placed on the criminal is mind blowing. Really don’t understand the thought process of people who defend people like this guy who clearly decided to act in an ignorant way. I would never take off on a cop, but then again, I’m not ignorant.
[35] It is crazy. So now the new de facto, at least in Cincinnati, is:
When a cop pulls you over, wait for him to come to your window, roll it down, tell him to fcuk off, and enjoy your 8 second head start as you drive away.
[35] In fact, the only way I can see that the University cop was in the complete wrong is if he had specific documented training to:
Once a pulled over suspect restarts or otherwise attempts to leave the scene with his vehicle while failing to comply you are required to:
1. Immediately step away from the vehicle a safe distance.
2. Attempt to continue a dialogue with the suspect, gently persuading him not to leave.
Here’s another bonus piece of the puzzle :
The police chief ordered the cops to make more off-campus traffic stops! All that happened to the chief was that he lost his job.
The Exiger investigation found that “no question exists that Chief Goodrich embraced the use of traffic stops as a key part of his proactive policing philosophy, that he actively encouraged his officers to make more stops …”
The number of traffic stops spiked from 86.5 a month to 271.5 a month in the nine months prior to the Dubose shooting.
http://www.wlwt.com/news/university-of-cincinnati-police-chief-resigns/39023560
Agreed. Death is the appropriate punishment in these situations.
I do not believe the cop should have been charged with murder (and this comment is not sarcastic).
[38] joyce – death is the appropriate punishment for cops, drug dealers, innocent children in the street or all of the above? By the way, just like in the end of Legends of the Fall, it was a “good death” for DuBose. Now his 12 children, aged 4 to 24, all have a free ride to college, he’ll have a statue of himself on campus and his family is now in the 1%. Quite a step up from being a drug dealing family drinking gin and juice while you mule your pounds of pot around poor neighborhoods, right?
Agreed. Death is the appropriate punishment in these situations.
…with a suspended license you just lied about as your final words on this earth.
[39] joyce – I’m glad we’re on the same page. Good. I think cops are trained to have one hand on their weapon, especially when a suspect is reaching around inside their car…just in case something goes wrong. Well, something went wrong and he pulled his weapon with just cause. You can make a case he shouldn’t have fired it, but not a murder case.
I do not believe the cop should have been charged with murder (and this comment is not sarcastic).
Now the other side will use different words but effectively say, “You should never be in fear of your life while driving away from a police traffic stop at high speed earnestly attempting to avoid a multi-year prison sentence for a drug conviction.”
Now there is a little problem with what the cop said. What was not true was that he got his hand caught. He grabbed the driver’s shoulder belt with his left hand and was dragged. What is probably going through his mind are the three roads from here:
1. I can continue to get dragged, but at much higher speeds.
2. The vehicle will stop and I’ll be fine.
3. I’ll fall to the road and get run over or not.
I believe when he shot his firearm he did it to stop the car. He may have shot the guy deliberately in the head or may have just fired at the driver, or he may have just fired, I can’t say, and I don’t think it matters. I know he was dragged 20 feet and there was an oncoming vehicle that didn’t miss him by much. He reacted with his right hand to pull his gun and reacted with his left hand to stay engaged with the driver and vehicle and now he’s off to the races with only the gun hand available to act. He landed flat on his back with both hands in the air.
I was pulled over once and the cop from his car using the PA had me put both hands outside the window before he approached the car. I was driving a 20 year old Camaro with out-of-state plates, so I could appreciate his apprehension. I took no offense.
Karma? Lived his life without dignity, so goes out with his last words being a lie.
I can not take anyone that has 12 kids serious, esp when it’s with multiple mothers. Tells me he has no respect for himself, his family, nature, and himself. He just did whatever he wanted. You don’t have 12 kids, it’s beyond selfish this day and age. It screams of the type character you have.
The Original NJ ExPat says:
June 7, 2016 at 6:35 pm
…with a suspended license you just lied about as your final words on this earth
*society in place of “himself” at the end of the sentence.
Bingo.
The Original NJ ExPat says:
June 7, 2016 at 6:43 pm
Now the other side will use different words but effectively say, “You should never be in fear of your life while driving away from a police traffic stop at high speed earnestly attempting to avoid a multi-year prison sentence for a drug conviction.”
I don’t like police either, but it’s insane to charge this cop with murder based on that video footage. Guy pretty much killed himself with his “own” actions. No one told you to take off with a cop hanging out your window. Anyone with an ounce of common sense would know that this would not end well. Anyone with common sense would not take off in that situation unless you are asking to get killed.
Messed up part, the cop was trying to be cool with him. He should have just said I’m sorry officer but I’m driving with a suspended license when the officer asked for it.
joyce says:
June 7, 2016 at 6:27 pm
I do not believe the cop should have been charged with murder (and this comment is not sarcastic).
http://ftw.usatoday.com/2016/06/kimbo-slice-nfl-nba-players-react-mma-twitter
Must kill the fringe democrats that the republicans were able to select their crackpot delegate, but they were not.
Kimbo Slice was the man.
[50] grim
That’s because they were too busy strategically voting for Trump
Lib – I think you mean fibula/tibia
https://en.wikipedia.org/wiki/Fibula
grandma Hillary’s elephant femur.
Lib – a must view (unless I’m late to the party)
https://www.youtube.com/watch?v=Wbo_NKUJUuU
Expat
40… At least someone, yourself, is thinking of the children.
42
“I think cops are trained to have one hand on their weapon, especially when a suspect is reaching around inside their car… just in case something goes wrong.”
Yes, they are and it’s a terrible policy. It leads to situations like this:
http://www.cnn.com/2014/09/25/justice/south-carolina-trooper-shooting/
Training cops that the slightest hesitation will result in losing their lives hence it’s better for them to act first even if they’re wrong is awful. They’re lives are not worth more than the average person. Cops cannot demand to be lionized as heroes as well as claim that any perception of risk (real or imagined) is justification for the use of force.
“You can make a case he shouldn’t have fired it, but not a murder case.”
Once again, agreed.
44
Dragged? Dragged 20 feet?!?! Is there another video I haven’t seen?
Lastly, why does driving an old car out of state demand increased suspicion?
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