Jersey City Heights?

Question

Hey all, just curious if anyone has any experience in the Heights in Jersey City. Iv been told that it is on the upswing. I don't know from personal experience but anyone with an opinion on the matter would be awesome.

Thanks.

Chris Martino · Answer

I have been interested in the heights for a few months now and the area has become very competitive. A lot of the good properties have been getting scooped up quickly. I recently put a bid in on a SFH that had 9 offers on the home in 4 days. It has become tough to make the numbers work up there. I see the next area of JC to become popular is the Bergen Lafayette area but it still has some rough areas.

I'm looking mostly in the North Jersey area if anyone is looking to partner up on a deal.

Anthony Segreto · Answer

@Jena Richards I have been living in the heights for the past two years, up near Washington Park.  I love it, great parking, lots of families, and close enough to Downtown JC / Hoboken / NYC.  Although prices have skyrocketed the past 10 years or so, I still think that the area is valued a bit more realistically than the Hoboken/Downtown spots. If you are looking in the Western portion, personally I'd want to be in the area around The Hutton.  Prices really range for 2 families.  You can get something old for 650, seems like a lot of the new builds are going for 800. Let me know if you want to chat about it, I am actively looking in the area.

Matt Aquino · Answer

I've also been interested in JC Heights for quite some time now.  Like @Ryan Goldfarb said .. I haven't seen anything on MLS that has an attractive price in the very specific area of JC which I think is desirable for the priced out Hoboken/JC crowd.

I have seen a few properties come out of clear flips/re-models and sell at some very high prices. In fact I know a couple friends who have actually made the purchase of such units. I checked the price and before pictures and they were buying these things dirt cheap and had to do a complete gut and remodel. Unfortunately either those deals are getting snatched up before it hits MLS or maybe its been someone giving direct offers.

Jessica Zolotorofe · Answer

Property values dip just because of walkability to restaurants and shops, and distance from the light rail, but it's not a "bad" area by any means. Lots of families are moving there because prices are cheaper but it's still the Heights. It's ideal for car commuters, too, because access to the 1&9 is so easy. I bought in the Heights on the east side specifically to be close to the train and I have literally taken it ONCE in 2 yrs. The Western Slope is nice and actually I know 2 developers who build all over JC that live on that side of JFK.

If you want to message me your email, happy to run MLS comps for you.

Jessica Zolotorofe · Answer

@Nicholas Salvia I live in the Heights and I do a lot of business there. from an investment perspective, it’s slowing down a little because of the high volume of new build 2 family condo conversions coming in. There are also new laws against tearing down “historic” homes, so the inventory for buying property for new builds is lower now. Fixer uppers are still a possibility, but sometimes they are so old and in disrepair, it’s more expensive to rehab than rip down, so theres a dilemma. I still would say it’s a hot market to pick up property in if you can find one and make the numbers work. Definitely “up and coming” so I don’t see anyone losing money there right now. Happy to answer any other questions!

Mark Gee · Answer

@Nicholas Salvia  I think the Heights are a very good place to invest if you stay on the better parts of town.  My cousin just moved into the area closest to Hoboken; there's actually an elevator at the top of the cliff that takes you down to the Light Rail. It'd definitely a cool spot.

Drew Slew · Answer

JC Heights i wouldnt touch. Its over, its going to be luxury like downtown JC soon. Will probably keep appreciating but its quite high priced IMO. Bergen Lafayette and Greenville is the only remainder lil 10sqmile or so war zone type of area maintstream people still get freightened about. Thats it, and even that will change a LOT by next summer.

Jena Richards · Answer

@Jessica Zolotorofe I know this is an old thread but just curious to hear opinions on the Western Slope area near the heights. I know property dips in value to the west of Kennedy Blvd but I’ve been finding it hard to really come up with good numbers for the area because most of what has sold was either a tear down or new build. What are good numbers on just solid 2 families around there?

Stefan Tsvetkov · Answer

Price growth in JC Heights has been indeed scary reaching to nearly 100% for the last 6 years according to Zillow data (although the latter seems to have a significant upward bias compared to Case-Shiller price index in regions covered by both).

With most of JC except Downtown being in my view “not nice”, JC Heights has gotten significant  traction as the relatively acceptable Downtown alternative. I always found the latter less visully appealing  than the upper “Latin” towns of Union City, North Bergen and West New York, though my opinion appears to be in the minority.

JC heights belonging to the large investor-friendly city of JC is though miles ahead of the above in its pure market development (even if may be in a bubble at this particular moment). The latter has reached fruition in a high condo demand in the area with new construction (and even renovated) condos selling for the price of a multifamily in most other areas of Hudson County.

Ryan Goldfarb · Answer

The Heights has been booming over the past few years as buyers are priced out of downtown JC and Hoboken. There's still a price difference between The Heights and DTJC/Hoboken, but it's less significant than it used to be.

I saw a 2-family new construction hit the market this week for $1.2MM, which is insane. I'm a big fan of the area, but prices have gotten scary to the point where it's tough to make the numbers work on anything that hits the MLS.

Jersey City Heights?

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