All Forum Posts by: Steven C.

 Steve, couldn't thank you enough for your insight and perspective. My fiancée and I both feel fortunate to have been in a position to purchase a home in our mid/late-20's and begin building equity. We bought because the location not only made sense for us professionally and socially, but we hope that the location will continue to drive value and we won't lose money at the very least (eye to move in 2027 or so). After our wedding in October, we are thinking about purchasing another property in the area as a split investment with my dad. Glad to hear that you are relatively optimistic on this area. 

The other thing that I read about UC is that the rent control only applies to residences that are 3 families or above. Not sure if that is 100% accurate but I would definitely look into it further before moving forward.

Any thoughts on the tax reassessment that I mentioned in the reply to Daniel? I am curious to hear opinions on that.

 Thank you for your note! totally agree with you in regards to the population of the town. However, I have noticed that it is a bit different south of 24th street and east of New York Ave. I make the walk down to Hoboken for work and there are a couple "yuppie" types doing the same or waiting for the bus on New York and Palisade Aves. My conjecture is that there is a chance that increased spillover from the Heights and people priced out of Hoboken can slowly change the makeup of this neighborhood in particular (what used to be "West Hoboken" back in the day). The Hoboken Heights project on Manhattan Ave is also something that will likely be a boon. 

Since I posted the original message, we received notice that Union City will be undergoing its first tax reassessment in over 30 years. What are everyone's opinions on what that can mean for the city? My building was built in 2016 so I am praying the assessment is rather similar (I do expect an uptick), but there are parts of Palisade Ave and the like that have definitely increased drastically in value since the last assessment. 

Let me preface by saying that I wish I found this really awesome forum 6 months ago! I closed on a condo in February'22 and would have loved to hear your opinions on it beforehand. Alas, I still would appreciate the insights of local NJ investors here on the place we purchased.

The condo is a 3 bed, 2 bath, shade under 1.4k square feet on 19th Street in Union City (on the block between West and Bergenline). One parking garage space and a fire escape that also includes city views and we spruced it up a bit as a pseudo-deck. My fiancé and I were able to lock in a rate of 2.875% on a 30 yr and we put 20% down on a $520k sales price. The entire building is a new construction, in 2016, and there are two units below us. Each bedroom, the kitchen, and living room have mid-town Manhattan views. The HOA is low as it is self-managed between us and the other two units. We absolutely love it so far as we are true city people and enjoy having many of these conveniences near us in walking distance and also frequent Hoboken, JC, and Manhattan on a regular basis.

I would love to here your opinions on this neighborhood over a 5-7 year horizon (likely time frame where we would sell and move) from an investment perspective. Good opportunity for appreciation? Does Union City's UEZ deal with NJ expiring in 2026 affect investment in the city (though I figure it may be renewed)? Will proliferation of WFH and its potential impact on NYC affect the strong development in Hudson County that we saw pre-COVID?

Any and all opinions are welcome. I know that this is after the fact, but perhaps your refreshed opinions on Union City and this neighborhood in particular might be of use to others like me who browse the forum.

Let me preface by saying that I wish I found this really awesome forum 6 months ago! I closed on a condo in February'22 and would have loved to hear your opinions on it beforehand. Alas, I still would appreciate the insights of local NJ investors here on the place we purchased.

The condo is a 3 bed, 2 bath, shade under 1.4k square feet on 19th Street in Union City (on the block between West and Bergenline). One parking garage space and a fire escape that also includes city views and we spruced it up a bit as a pseudo-deck. My fiancé and I were able to lock in a rate of 2.875% on a 30 yr and we put 20% down on a $520k sales price. The entire building is a new construction, in 2016, and there are two units below us. Each bedroom, the kitchen, and living room have mid-town Manhattan views. The HOA is low as it is self-managed between us and the other two units. We absolutely love it so far as we are true city people and enjoy having many of these conveniences near us in walking distance and also frequent Hoboken, JC, and Manhattan on a regular basis.

I would love to here your opinions on this neighborhood over a 5-7 year horizon (likely time frame where we would sell and move) from an investment perspective. Good opportunity for appreciation? Does Union City's UEZ deal with NJ expiring in 2026 affect investment in the city (though I figure it may be renewed)? Will proliferation of WFH and its potential impact on NYC affect the strong development in Hudson County that we saw pre-COVID? 

Any and all opinions are welcome. I know that this is after the fact, but perhaps your refreshed opinions on Union City and this neighborhood in particular might be of use to others like me who browse the forum.