Fourteen Jersey City waterfront condos sold this past week ending October 5, 2013. Of the 14 condos sold, two were at the Trump Plaza, 88 Morgan Street, and one at the Mandalay on the Hudson building, 20 2nd Street, Jersey City. In the Trump building, one of the 2 condos sold above list price at 100.01%, while the other sold at 97% of sale to list price. In the Mandalay building, the condo sold at 98% of sale to list price.
A lack of inventory in the downtown Jersey City area is one of the main contributing factors to high sale-to-list-price ratios. With the steady increase in interest rates, this trend is expected to continue. Sales were also recorded in the Crystal Point Building, at 700 Grove, and at 70 Essex Street. If you are interested in buying a condo or selling your condo, feel free to contact me, Janice Hall, at (201) 232-8577.
