Hoboken Auction Open House: "Top Notch"

Tuesday, June 5, 2007, by Joey

The dream of living in fabulous Hoboken may be a little off the radar for some of you, but we're still intrigued with what's going on at Velocity Hoboken, the 128-unit development that's auctioning off 40 of those units later on this month for a minimum bid of $295,000 each. Hoboken Hero went to check out VH, and the result is an informative review and very very detailed photo tour. Some wisdom:

Yes it's close to where you'd rather not like it to be at the moment, however this should be of no consequence. And in a year or two when many of the other major developements are finished, such as Metrostop and Upper Grand, and the forthcoming retail presence of the Monroe Center of the Arts, you'll be so happy you scooped one of these puppies up at a fraction of the cost of market rate. From living in the area for a while now, it is clear that these condos SHOULD be getting market rate, just like anything else within a 10 block radius. I'm not kidding. YES, the original asking prices are way to high for this market, that is painfully obvious. Whomever drummed up the original asking prices should be fired because they are were way too aggressive. There's no wonder they had a hard time selling. However, the construction and ameneties are top notch for Hoboken, and you'd be a fool not to look at Velocity Hoboken if you are interested in upgrading your living space.

Click through for a bunch more pics, including the interior courtyard, the staff that greets you and the super creepy Shining hallways. Oh, and that flat screen is way too close to the sofa to achieve the proper recommended viewing distance. Just sayin'.
· velocity hoboken open house - actually 40 open houses! [Hoboken Hero]
· Hoboken Condos Sell For Whatever You Feel Like Paying [Curbed]

Filed under Outside NYC: New Jersey, Real Estate Development, Real Estate For Sale, Hoboken, Velocity

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Comments (8 extant)

Check out the pics from the upper-floor windows--what a lovely view of the adjacent housing project.

By anonymous at June 5, 2007 10:08 AM

Having your very own colored help bowing to you makes the projects worthwhile. They throw in two little whitey girls in for free.

What a deal!

By Anonymous at June 5, 2007 10:28 AM

It looks much better than most of the new construction in Brooklyn, at least.

By Oldmark at June 5, 2007 10:55 AM

I hope we get a report of what sells and for what price!!!

By Anonymous at June 5, 2007 11:11 AM

Are you kidding, #3?

These look like cheap rental apartments in a Houston suburb.

By Anonymous at June 5, 2007 11:30 AM

I didn't say it was great, but have you seen what typically goes up in Brooklyn? At least it has bay windows, a feeble cornice and a muted color scheme.

By Oldmark at June 5, 2007 12:01 PM

Actually they falsely advertised for 40 units, because they only auctioned 9 units. The itinerary was originally set for 16, 200 people showed up. Then, after 9 units they decided the prices weren't high enough, so they cut off the auction. Not to mention that paying $390,000 for a one bedroom is not really a deal. Grat, so in 45 days 9 people will be living in a complex of 128 units all alone, next to the projects.

By buyer at June 24, 2007 3:03 PM

Yes, it's true, i was there, i just came out and a lot of us were DISAPPOINTED. What a FAKE auction!!

By i was there at June 24, 2007 3:08 PM