Union city/Weehawken vs. Jersey City areas

[David Smith]

From listings, it seems  properties now in Union city/Weehawken are increasing faster than those in Jersey City areas.  How do you feel?

For JC, anyone comment on the potential and current prices for multifamilies in Bramhall, Stevens, Danforth Ave area?

[Jessica Zolotorofe]

Bergen county has a lot more open space, so there is a lot of larger scale development going on there, but it takes months to years and years to get approvals, so there seems like less going on, but the market really is not stagnant at all.  There are 3 new large condo and apartment developments that should break ground shortly. As far as smaller scale investments, towns like Lyndhurst and Garfield with older homes in closer proximity to one another are still available to flip.

Hudson county has a lot of smaller flips or two-three family new construction going on because a lot of the areas in Hudson haven't been renovated in 50+ years so there's a lot more to purchase at a lower price, plus with areas of Jersey City and Union City so close to hoboken and downtown JC and increasing in pricing so quickly, it's a more solid investment. It's just another case of supply and demand. People want to live close to the city, but don't rule out Bergen. Still a lot of money to be made all over that county.