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1025 Maxwell - $1000 per square foot - Overpriced or Fair?

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Re: 1025 Maxwell - $1000 per square foot - Overpriced or Fair?

#21

Anonymous

Quote:

Not very familiar with builder cycles, are you ? Practically every real estate boom and burst was accompanied by huge overbuilding by builders. Raw land costs money, even built up houses cost money. Carrying that cost is a huge strain for builders, so they most definitely do sell new construction at discount prices when a real estate market turns sour.

Not very familiar with the concept of sticky prices, are you? Drastically building costs only add to this phenomenon.

Posted on: 2006/5/10 9:57

Re: 1025 Maxwell - $1000 per square foot - Overpriced or Fair?

#22

Anonymous

Quote:

You point is flawed. There will always be more demand for prime view units than non-prime view, and prime view units will sell for a premium RELATIVE to non-prime view units, however BOTH can and will decline in price. Anyone who believes otherwise is naive.

Historical record proves your above claim to be false. It very often happens that the overall market will decline while the most expensive/desirable properties continue to increase in price. This happened in the Hamptons.

I'm not saying what will happen either way, just thought everyone should know you don't have a clue what you are talking about.

Posted on: 2006/5/10 9:59

Re: 1025 Maxwell - $1000 per square foot - Overpriced or Fair?

#23

Anonymous

All properties at maxwell will vary to some degree but they all will be desirable veiw or no view. It is the premier spot to live in hoboken period.

Posted on: 2006/5/10 10:35

Re: 1025 Maxwell - $1000 per square foot - Overpriced or Fair?

#24

Anonymous

one factor people are missing: Wall St is moving/has moved to JC. The amout of $ saved in taxes by living in Jersey, working in Jersey is huge. When I was getting huge bonuses on the St, if I worked in Jersey, I would have 100% wanted to live in Jersey. Without a doubt I would look to the most prestegious building with easy access to NYC. That will be Maxwell.

Posted on: 2006/5/10 11:04

Re: 1025 Maxwell - $1000 per square foot - Overpriced or Fair?

#25

Anonymous

Quote:

Anonymous wrote:
Quote:

Not very familiar with builder cycles, are you ? Practically every real estate boom and burst was accompanied by huge overbuilding by builders. Raw land costs money, even built up houses cost money. Carrying that cost is a huge strain for builders, so they most definitely do sell new construction at discount prices when a real estate market turns sour.

Not very familiar with the concept of sticky prices, are you? Drastically building costs only add to this phenomenon.

I would suggest examining the history of builders in past booms and bursts. They always overbuild and get slaughtered in the burst.

Posted on: 2006/5/10 18:59

Re: 1025 Maxwell - $1000 per square foot - Overpriced or Fair?

#26

Anonymous

Historical record proves your above claim to be false. It very often happens that the overall market will decline while the most expensive/desirable properties continue to increase in price. This happened in the Hamptons.

You have got to be kidding me.

You are comparing one of the MOST DESIRABLE AREAS IN THE WORLD, the Hamptons, where the super-rich live in $50 mil waterfront mansions, to Maxwell in Hoboken?

That is probably the #OOPS#est thing I read on the Internet in the last 10 years.

Congratulations.

Posted on: 2006/5/10 19:25

Re: 1025 Maxwell - $1000 per square foot - Overpriced or Fair?

#27

Anonymous

Please get back the unit in question !!!!!

Posted on: 2006/5/10 22:25

Re: 1025 Maxwell - $1000 per square foot - Overpriced or Fair?

#28

Anonymous

I saw another unit in the Times listed for 1,685,000 - 2000 square ft facing south in 1025 with partial views. What does everyone think on that ?

Posted on: 2006/5/10 22:31

Re: 1025 Maxwell - $1000 per square foot - Overpriced or Fair?

#29

Anonymous

Regarding the unit facing South: dependson the floor and how far back it is. I believe it could get downtown Manhattan in full, so "partial views" should be used cautiously.
At 842/sq.ft. I would say it could be worth it depending on the factors I mentioned above.

Posted on: 2006/5/10 22:35

Re: 1025 Maxwell - $1000 per square foot - Overpriced or Fair?

#30

Anonymous

Its a fair price, decent view but low floor. 6-12 doesnt have anything that big. Its 1 or 2 units in from the east.

Posted on: 2006/5/10 22:59