The Hudson County market
Hudson is the densest county in the state and the one where a floor number moves value more than a floor plan does.
Jersey City, Hoboken and the Gold Coast are condominium markets first. Floor, line, exposure, how much of the view is protected and what the monthly charges buy will each move a number further than an extra ten square feet. The best evidence available anywhere in this market is a matched pair inside the same building, and where those sales exist the analysis uses them.
Tax treatment complicates the comparison. Buildings under a payment in lieu of taxes carry a different monthly cost from conventionally assessed ones, with its own schedule and its own expiry, and a buyer responds to the payment rather than to the label. Where comparables come from a different arrangement, the report says so.
Away from the waterfront, Bayonne, Union City and West New York hold dense two and three-family stock. Those are income properties and are valued as such.
Municipalities served in Hudson County
Jersey City · Hoboken · Union City · West New York · North Bergen · Bayonne · Secaucus · Weehawken · Harrison · Kearny · Guttenberg · East Newark · North Bergen Township