Greed Is Only So Good

Print Friendly
Print Friendly
Velocity Losing Steam:
Condos for sale, gone to rentals… In Hoboken. That’s The Velocity. The developer will tell you it’s a business decision in a changing market and not…
1) Greed. When the market was hot, realtors were lined up with buyers ready to go to contract. Realtors got stonewalled. Then the market turned…
2) Location. In a slower market, who wants to be in that really nice building next to the public housing. Would I leave my BWM convertible with the top down and my Garmin on the dash on Sixth and Jackson? I’d rather watch Oprah.
3) Slight Of Hand. Remember the big auction? It was a marketing ploy not a push to dump the units at any cost.

The Winners:
Metrostop and The Monroe Arts Center now have a virtual moat separating their high end projects from the public housing.

Speak Your Mind

*