| Jersey Real Estate>>Condominiums>>Condominiums |
Portofino Residences ( Tower )
Description - Luxury residences located directly across the river from Manhattan's World Financial Center.
Services - Spacious one, two, and three bedroom apartments, 24-hour concierge service, health and fitness center, a heated outdoor swimming pool with a large sundeck, and an on-site conference room, multi-purpose party room available to all residents.
Website - www.portofinoatjerseycity.com
Address - 1 2nd St, Jersey City, New Jersey ( NJ ) 07302 Map It
Telephone - (201) 222-3111
Reviews
Submit your review
Disclaimer: Any opinion expressed below is to be considered the reviewer's personal opinion,
not necessarily that of the Kannekt company or its editors. Please read with discretion.
If this is your listing, to remove or disable reviews, Please contact us |
Review - Since all the utilities are electric can someone tell how much - in average - is the electric bill (1 badroom apt).
Thanks.
(2005-08-05 )
|
Review - Anyone know about the condominium insurance? Please give some info if you bought an apt and waiting for the closing>.
(2005-08-04 )
|
Review - I have lived in this building for the past year and have loved it. I am buying the apartment I have been renting because I really enjoy living here. Between the DirecTV, high speed internet, gym, and pool I think the monthly fees are worth it.
I found the particular salesperson I dealt with relatively useless (not to say they are all this way). She didn't know much, didn't seem to enjoy her job and was just there to let people know what is still available and sign people up. The property manager, who is the next person you see after signing up is very helpful and can answer many of your questions. He used to handle the rentals before the condo conversion so he is very familiar with the building. He also can answer many of the questions about the contract. You won't need to go to the seller's attorney about every question you have. So far it has been a good experience and things are moving quickly toward closing.
(2005-08-02 )
|
Review - For anyone who has been monitoring the Real Estate Market and the Fed you should be well aware of the fact that Alan Greenspan has never used the term Real Estate Bubble. While you're entitled to your opinion and I guess I have to somewhat respect the possibility that you could be correct I can't help but think that your just a bitter renter who didn't take advantage of the lower prices when you had a chance and now you have to go through the trouble of finding a new apartment.
Product or Service - 50/50 Customer Service - 50/50
(2005-07-31 )
|
Review - From my perspective this is an extremely risky investment from both a macro and micro perspective.
When considering the macro perspective my view is that the “real estate bubble” will eventually burst, if anything driven by a self-fulfilling prophecy (everyone is talking about it, from a. greenspan to my next door neighbor).
In terms of the specific location/micro perspective my view is that this building will be exposed to new capacity that will be developed in the next two to three years negatively impacting the price due to the (i) classic offer/demand curve, (ii) lower value proposition (new buildings with better quality) and (iii) potential of view obstruction. Also, mgmt fees/taxes in top of the mortgage monthly payments seem very high (take a look at the implied cap rate).
When it comes to building management I should say that as a renter I have been in better places were they place more emphasis on customer service and quality management.
Cheers
Product or Service - 30/50 Customer Service - 20/50
(2005-07-29 )
|
Review - Since this building was an apartment complex, does anyone know what kind of renovation they will do for each unit before selling as a condo? Assume people don't take the upgrade package. Karen (in the sales office)?
Product or Service - 50/50 Customer Service - 50/50
Reviewed by - (2005-07-26 )
|
Review - PILOT payments are tax-deductible. Don't ask JC Tax office, ask a CPA specializing in Federal and State Income Tax.
Product or Service - 50/50 Customer Service - 50/50
(2005-07-25 )
|
Review - Is the tax on this property a PILOT payment? The tax abatement suggests (to me) that Portofino owners will be paying PILOT, which is not deductible for income tax purposes, because PILOT is not truly a property tax (that's why it's called PILOT, Payment In Lieu Of Taxes). Jersey City tax authorities told me categorically that PILOT is not tax deductible. So when I see on this bulletin board that a $600,000 apartment carries a PILOT of 1.5% ($9,000 per year, non-tax deductible), I don't walk away. I run.
(2005-07-24 )
|
Review - An update: I have booked a property
due to the confusion about tax abatement , i spoke to the City hall office
http://www.jcnj.com/taxassessor.shtml
They confirmed that there is a 20 year tax abatement. They told me the approx tax based on my price and maintenance. the tax works out to about 1.5%.
thanks
Product or Service - 45/50 Customer Service - 35/50
(2005-07-20 )
|
Review - Thanks a lot for the feedback. The views were to the south (statue of Liberty) which is clear now but looking at the plans for Harborside, there will be a building that will block the view. 918 sq/ft. The location is definitely great.
Product or Service - 50/50 Customer Service - 50/50
Reviewed by - Ron (2005-07-20 )
|
Review - I also feel that the views from the NW side of the Portofinowill remain in tact. The South side is a different story. Although the old Powerhouse has been landmarked and can't be knocked down there are still three rather large parking lots over there that I feel will be built on in the future. Once this happens you can say goodbye to any decent views the A will have. I can't really speak for the Shore Club but i've heard alot or rumors that they don't own a sizable lot between them and the river.
Product or Service - 50/50 Customer Service - 50/50
(2005-07-20 )
|
Review - I feel the place worth it even with AS IS condition on the contract. Some views may get blocked thought. Our experience with the sales person was quite plesent.What is most appalling is the way they trat you when you call them for clarification after purchasing the unit. The people in in contracts depatment are very rude ,never call you or your lawyer back with any answers.Very disappointing. If you decide to buy make sure you get all that was promised in writing.
Product or Service - 50/50 Customer Service - 10/50
(2005-07-20 )
|
Review - Hard to say. What are the views? That is often what you are paying for and can they be blocked in the future? With the NW views from Portofino over the low rises of Avalon, I don't see how that can happen. Chatter at A and Shore Clubs seems to say there is concerns about other highrises blocking view. I think that both A and Shore Club are publishing these intro prices to create a demand (as do all developers) and then will raise prices. Upgrades in these units are not a hard thing and not as expensive as the upgrade packages they are asking at Portofino.
(2005-07-19 )
|
Review - I'm sure you're going to pay alot more than $510K for a 1-bedroom 1.5 bath at the A. By the time that building is ready you won't be able to find a 1-bedroom for under 600K and you won't have nearly as good of a view as the Portofino. So you have to do some upgrades to the unit like tiles in the bathrooms as appliances. Big Deal. I think you may have made a mistake by cancelling your reservation. I bought a 1-bedroom on one of the upper floors and i'm looking forward to the move.
Product or Service - 50/50 Customer Service - 50/50
(2005-07-19 )
|
Review - I went to the open house this past Sunday and reserved a unit. Once I did a little more research and saw everything that was going up, I decided to cancel my reservation. They are selling the units as-is with when the tenant leaves it. Floors are cheap, appliances and bathrooms are definitalely rental quality... If the A is going to be $200s - $800s, the $510 price for an 18th floor 1 bedroom 1.5 bathroom seems way too high. thoughts?
Product or Service - 50/50
Reviewed by - Ron (2005-07-18 )
|
Review - for everyone that's been trying to get info on the bldg. and hasn't received a return phone call or waited and didn't get the chance to sit down with one of us - on behalf of the sales team we truly appologize for the delay and inconvenience. we are doing our best to meet with everyone and anyone interested in the bldg. as of now, the best thing would be to come in sunday for the grand opening - take a tour, sit with an agent, and have lunch on the sundeck while enjoying the live jazz band! we will make sure to satisfy you in any way possible, if it's from filling your belly or purchasing a new home, consider it done!
anxiously waiting to meet you all!
sales team.
Product or Service - 50/50 Customer Service - 50/50
Reviewed by - karen (one of the sales reps) (2005-07-15 )
|
Review - Can the sales team clarify a previous posting that verbal commitment on tax abatement has been received and it will be 1.44%?
Anxious potential buyer.
Product or Service - 50/50 Customer Service - 50/50
(2005-07-15 )
|
Review - The maintenance is very reasonable. I'm paying $330 for a studio. This includes 400-channel DirecTV and T-1 internet, pool, gym etc.
Product or Service - 50/50 Customer Service - 50/50
(2005-07-14 )
|
Review - sales staff is great. they called me back when a unit became available. there is separate additional cost for a complete upgrade, parking & storage. monthly maintenance is around 380 for 1BR. prop tax is 2% of sp less abatement.
Product or Service - 40/50 Customer Service - 50/50
(2005-07-14 )
|
Review - The building has a received a verbal commitment for a tax abatement - the rate will be 1.44%. This will be confirmed on July 27th.
Product or Service - 50/50 Customer Service - 50/50
(2005-07-13 )
|
Review - Can some of you guys who bought units here tell us what you paid? I'd love to get a pricelist but since the salespeople won't give me the time of day this is my next best option.
(2005-07-13 )
|
Review - For people who have purchsed units there, would it be possible to share the following information:
b) studio/ 1 br/2 br/ 3br?
c) sq footage?
d) orientation, north-east corner, north-west corner, north, south etc?
e) floor?
f) price with/ without parking?
(2005-07-13 )
|
Review - How were you able to view and purchase these condos already. I called their office and was told that first sales are through a pre-view this Sunday??
Also, if anybody knows, what is the Monthly maintenance charges running at?
Thanks
Reviewed by - Very interested (2005-07-13 )
|
Review - anybody that has some sense of real estate would know what the value is of purchasing a unit in this building. i just went into contract on a 2 bdr. the sales rep couldn't be more patient with me while just a few feet away in the lobby was a mad house. i think that taking a piece of of this opportunity is worth every penny i paid! just look from the sales, if it wasn't worth it, it wouldn't be selling. there's always going to be some type of critic no matter how perfect the building is.
a happy new owner
Product or Service - 50/50 Customer Service - 50/50
(2005-07-12 )
|
Review - Anyone heard about details of tax abatement on this building? Heard it will be around 1.5% but not sure. Thinking about buying but it's scary without knowing what property tax may be. Also heard they sell like hot cakes...
Product or Service - 40/50 Customer Service - 40/50
(2005-07-12 )
|
Review - I just bought a unit at Portofino last week. Sure it's expensive, but The Shore Club and A will be even more expensive.
As for A, they may advertise Starting in the $200,000s but that's probably for the studio on the first level facing the factory behind it. Plus, they won't have the views and proximity to the PATH and Waterfront that Portofino has. The Shore Club: will no doubt have spectacular buildings, but the cheapest ones will sell out within the first couple days and prices will top $1,000,000 for the larger ones with Hudson views.
As for the existing and planned condo's which are further away from the Waterfront in JC (Grove St. area, they won't have the advantage of being close to the ever-developing waterfront which A and Portofino have but will probably command higher prices than Portofino currently has because they're new. Hope I've helped and good luck!
Product or Service - 50/50 Customer Service - 50/50
Reviewed by - JC-Waterfront (2005-07-12 )
|
Review - I purchased an apartment in the Portofino. I bought it only after looking at the apartments currently for sale in the Paulus Hook area. The current prices in Paulus Hook (newer condos with comparable amenities) are in the $600-700 per sq. ft. range, if not more.
First of all, lets address the high prices: For the amenities that the building offers, yes, they are justified in charging the high prices. The building includes a gym, heated swimming pool, a social room with a pool table, a business center with a conference room, attached garage and T-1 internet and Direct TV included in maintenance. Again, none of the other buildings / condos in the area offer the convenience in terms of the amenities and the location (close to 2 Path stations, the ShopRite supermarket and the Dollar Rent-a-car). You wouldn't need a car to live here.
Apart from the amenities, I also liked the quality of the building in general. The hallways are wider. The flooring is superb. The A/Cs are newer units and they work well.
My friend who has lived there for the past 2 years is buying his unit because he is happy with the overall quality of life there.
Also, the views from most of the units are superb. I think the prices are justified given the overall package. One-third of the building was pre-sold in the first 10 days. I do know that they are bumping up the prices. So, if you want, you can try negotiating.
Product or Service - 50/50 Customer Service - 50/50
(2005-07-11 )
|
Review - The taxes are extremely high compared to larger apts in better buildings in the Paulus Hook area.
(2005-07-09 )
|
Review - Surprisingly, very few reviews on this message board given that the apartments are flying off the shelves like hot cakes.
Given that it is a rental property, any ideas how they plan on converting it into a Condos?
I was there this past Sunday and the sales agent would not give you a moment unless you come in with a check book in hand. After spending two miserable hours to get an appointment the attitude was very unfriendly to say the least. Prices were non-negotiable and range between %480-$600 psf. No mention of upgrade package either - so i am still not aware what that would include. Frankly - I am quite disgusted with the whole experience, though I wouldnt mind living in a place like that given the location and views.
Product or Service - 35/50 Customer Service - 10/50
Reviewed by - ModestRenter (2005-07-08 )
|
Review - Popcorn ceilings, tiny claustrophobic cubbyholes of apts, in-room AC, beat-up rentals, lousy views, $600/sqft = major mistake.
Product or Service - 25/50 Customer Service - 25/50
(2005-07-08 )
|
Review - The poster below is not correct. If you add in the upgrades here you are at almost $600 psf for most units. And the views are not dead on NYC views, as the building is oriented north/south and not east/west. They have also had a lot of problems with parking garage break-ins here. I would wait for the new construction that will be coming out soon (A Condominiums, Shore Club). This building is not a great buy.
(2005-07-07 )
|
Review - Fabulous views from almost every unit. Great buy for the money. Why buy in Fulton's Drowning when you can purhcase units with unbelievable views?
Product or Service - 50/50 Customer Service - 50/50
(2005-07-05 )
|
Review - The building is going condo in 2005.
(2005-01-29 )
|
|
Kannekt Classifieds
New improved classifieds. Post up to 3 photographs
Rentals (24)
Home Sales (14)
Furniture Sales (9)
...
|
|
