Jersey City - Bergen Lafayette Real Estate Market

[Denvol Haye]

Curious on folks take on Bergen Lafayette Real Estate Market Outlook. Between the new public safety building and developments, it feels like the market is, or soon to be, experiencing some change. Believe they also recently rebranded the area around the MLK light rail station to “Jackson Square” which in my experience has been a way for localities to rebrand a neighborhood to attract new resident (ie, SoHa in Harlem). 

Any thoughts on what it all means? Outlook for the area around the new public safety building/Jackson Square? Are others looking at this area? 

Thanks! 

[Peter Tverdov]

We keep getting more client inquiries to manage in Jersey City, West New York etc. Obviously there is a lot of rental demand for those areas. Even a lot of areas in NJ that were beaten down have investor money pouring into it. We have even decided to expand property management coverage there because of the demand. 

[Alexander Szikla]

The area has changed and improved tremendously. Lots of infrastructure being built and retail taking over once vacant spaces. 

Dense market with constant rental demand. However, a lot of capital has been chasing the Jersey City / Bayonne markets. 

Very difficult to find deals that make sense from a cash flow perspective. You really need to believe in the continued future appreciation. 

Today, I believe there is more value for yield and growth in the Bronx.