From the New York Times:
A Patchwork Project, by Design
By ANTOINETTE MARTIN
IF his plans hadn’t been thwarted two decades ago, said Peter Mocco, the developer of the massive Liberty Harbor community rising adjacent to two historic neighborhoods here, he would have built a “spaceship” development — sealed-off and sterile.
But today, as the 667-unit first phase of Mr. Mocco’s project at last takes shape, he is going in the opposite direction — open and eclectic-looking. The only “spaceship” aura exists inside the residences under construction. Each will have a touch-screen computer on the wall that can do just about everything but take out the garbage.
…
It was 1985, a decidedly different era, when Mr. Mocco was named master developer of the huge site adjacent to the Paulus Hook and Van Voorst historic neighborhoods covering 28 city blocks. The area was run-down and industrial, with abandoned warehouses and, on the fringes, rows of substandard apartment buildings.
…
So that is what Mr. Mocco dutifully designed, and by 1987, he had city approval for his plans to cover the site — bounded by Grand Street, Luis Muñoz Marin Boulevard, Jersey Avenue and the Tidewater Basin — with modern, but “sterile looking” apartment buildings and single-family homes set behind a fortress wall.Abruptly, though, things soured: the economy, the real estate market and the financial industry’s willingness to back a plan for 7,000 to 10,000 housing units in a risky area of Jersey City.
A decade passed, Mr. Mocco said, before the notion of rebuilding in beat-up urban areas became realistic again. Crime rates were significantly lower in New York, and Jersey City, too, by the late 1990’s, he recalled, and urban living was regaining cachet. By the year 2000, he had begun considering how to reshape his vision for Liberty Harbor.
I wish i could be a fly on the wall in the sales office for this place. They essentially have an entire community of homes to sell in a falling market with what is probably 0 units sold to date. The prices are absolutely up there. 620K – 700K for a 2/2 condo and while you have an array of upgrades included in the price you have no assigned parking. Maitenance fees for these condos are 600 and i’m not sure about taxes. The taxes cant be any less than say 7K. they also have brownstones, but you cant buy the brownstone just a floor within the building. Lastly they have townhomes at (put your coffee down…) 1.2 Million.
Thanks but no thanks. I will continue renting.
The article says that Mocco envisioned a family style community. Families in general are not able to pay these prices, along with maintenance and taxes, you would need to bring home about 500K for that townhome (because a family of four is not going into the condo long term) and that would be just getting by when you factor all of the expenses of having a family. Chances are if you are making that much you wont be around much to give that place a FAMILY feel.
My wish would be that the places sit so long that part of the punch list will include clearing cobwebs.
Reporting live from Paulus Hook this is the Spelunker.
Peace my bubble brothers and sisters.
No you don’t want to be a fly on his wall, because there are other bugs on the wall -and I don’t mean animal bugs – I mean Fed microphone bugs..
I have not heard his name in a while, because him and his brother both wer at Club Fed for a while.
Both of them are corrupt “friends of theirs” guys. They run North Bergen like a fiefdom, The manage to build condo parking lot over public parks. They were throwing construction waste in the Meadowland swamp. The list is incredible — My favorite is the walls with studs every 24″ vs 16″ as it should be and the “fake” sprinkler system.
If you buy anything from these two you better be prepare to rebuild it again, and make sure you know how to handle the toxic waste hidden in your walls. Or yeahhh- did I forget to mention they are really tight with the old McCann – who twice got convicted.
Thanks for the tip Old timer. I didnt realize this guys history. With that said i wouldn’t feel bad at all if he did lose his shirt on this one. From what i understand he purchased the land some time ago for a song through a “friend” in town.
“My favorite is the walls with studs every 24″ vs 16″ as it should be”
With construction quality this poor i dont know that even a 50% reduction would make it any more appealing to buy from him.
Isn’t 16″ stud spacing required by the housing code or is that simply best practice?
More overpriced shoeboxes coming to JC.