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Halliburton Homes Real Estate -
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Hoboken real estate and Hoboken area real estate listings database, searchable with detailed descriptions and photographs. Monthly real estate newsletter, FAQ, agent info and Hoboken area realty links. Jesse Halliburton, Broker of Record.
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| Jersey Real Estate>>Condominiums>>Condominiums |
Grandview
Grand View
Description - 40 unit luxury condominium building at the corner of Greene and Grand streets
Website - www.metrohomesllc.com
Address - Grand St, Jersey City, New Jersey ( NJ ) 07302 Map It
Reviews
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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.
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Review - Relax chaps. Units come on and off the market all the time. You were both right :)
Reviewed by - Steve Ikin (2005-04-12 )
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Review - The PH is not sold...
Quote from someone new to condo development: Well, it's because it is sold.
Answer and learn...: Well, it's back on the market (it was never sold) listen and learn and NEVER believe a website?!? Until the contract is signed, the developer still owns the unit. And will increase the price accordingly.
(2005-04-11 )
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Review - Does anyone know if the Grandview will close on June 1st?
(2005-04-06 )
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Review - It looks like the Penthouse may be sold. It looks like Chelsea Realty may be playing games. The apt was removed from their website and listed as sold this afternoon. They did this before back at the end of March. Who knows if the Grand View is actually sold out.
(2005-04-06 )
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Review - looks like the PH is back on the market at $1.15M...
(2005-04-05 )
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Review - the last price i heard was $1.15M
(2005-03-29 )
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Review - Any idea how much the penthouse sold for?
(2005-03-28 )
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Review - Well, it's because it is sold.
(2005-03-26 )
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Review - QUOTE: If it's not there, it's sold. If only life was so simple.
(2005-03-24 )
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Review - According to Chelsea, the Grand View is nowSold Out...way to go Metrohomes...looks like a great building.
(2005-03-24 )
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Review - Check it out on the chelsea webpage. The Grand View apt complex is now officially sold out.
http://www.chelsearealtors.com/residentialsale.htm
So far I have been very impressed in dealing with Metrohomes especially their waterfront design staff.
Quick question : Any other tenants considering getting california closets? Metrohomes work with a company contemporay closets which is listed on their webpage.
(2005-03-24 )
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Review - If it's not there, it's sold. If you really care, just call Chelsea.
(2005-03-23 )
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Review - Ok, folks. Care to tell us how much you paid for your unit?
(2005-03-23 )
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Review - I think the website is out of date - and has yet to reflect the new price for the penthouse - of course I might be wrong.
Then again, looking at the building (and that unit particularly) it does look like a $1M+ unit, so it might well have sold.
Good job Metrohomes.
Product or Service - 50/50 Customer Service - 50/50
Reviewed by - Steve Ikin (2005-03-21 )
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Review - It looks like the penthouse apt has been sold. I checked out the chelsea realty website. The only apt listed is the studio apt (478 sf) at $295,000.
(2005-03-20 )
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Review - Q: What's been added?
A: About $200K to the asking price. That's real estate for you. Preconstruction prices normally rise towards completion.
(2005-03-17 )
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Review - According to the Chelsea website, the Grand View penthouse 3H is now $1,150,000. Anyone know what's been added?
There is also a studio available now? Anyone know which unit?
(2005-03-16 )
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Review - Metrohomes let you use any mortgage company you like.
Of course, if Wells Fargo are offering a free rate lock, and a good rate, plus Metrohomes will give you $500 for going with them (this offer might have changed) - then why not use them?
Product or Service - 45/50 Customer Service - 45/50
(2005-03-15 )
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Review - Metrohomes did not specify any mortgage company or bank. Metrohomes did offer buyers a one year lock that they paid for. It is with Wells Fargo and is called builders best. The purchaser pays the lock up front and it is reimbursed at closing by Metrohomes.
The buyer is not obligied to exercise this option or even get their final mortgage through Wells Fargo. At closing buyers can use any bank/mortgage company.
As a first time buyer, I must say I have been impressed in dealing with Metrohomes. The waterfront design group have been a pleasure to deal with.
(2005-03-15 )
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Review - Did MetroHomes let you use the mortgage company of your choice?
(2005-03-14 )
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Review - The maintaince for parrking is as follows
Regular and compact spaces $10 per month
Tandem $15 pm
(2005-03-10 )
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Review - Plus about $30 per month per parking space.
(2005-03-09 )
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Review - It all depends on the unit size.
The maintaince varies from $127 pm for the smallest unit up to $478 for the penthouse (1806 sq feet).
(2005-03-08 )
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Review - Does anybody has an exact figure for maintenance in the Grandview?
(2005-03-05 )
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Review - Plan for June/July.
(2005-03-03 )
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Review - I spoke to Metrohomes a few weeks ago and they told me the revised date is now June 1st. I am not surprised as this is new construction and there are always delays. My lawyer warned me up front last July that it was unlikely that any new construction is completed by the anticipated closing date and to anticipate a delay of a few months. She has covered real estate law for 30 years in Hoboken and has closed on many new construction projects over that time period.
On a more positive note, I spoke to the builders on site and the sheet rock should be finished by next week. The cement is already laid in the parking area but spaces have not been painted yet.
Waterfront designs is looking for the 50% payment for all upgrades which were ordered. This is an indication that they are now getting close to having to pay the vendors for the upgrades that we ordered.
(2005-03-02 )
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Review - has anyone heard anything recently on an expected close date? Doesn't look like April 15 is going to happen.
(2005-03-01 )
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Review - “Cost per square foot = $481.43
1,598 * $481.41 = 769,323”
You arrived at $481.43 from unit 210. Note: all these units sold a long time ago. These prices are possibly 10+months old (towards the end of construction prices), and in fact if these units were on the market today, at these prices, they’d all sell within a week.
I would conservatively add 15% to these prices today, plus I would assume everyone who purchased units also purchased parking spaces, so IMO you should add 29K to the price and then divide by the sqft – because very few people would sell a unit and no sell the parking space they purchased.
Unit SQFT Q1 2004 Q1 2004 15% Increase Q1 2005 Parking Price Q1 05 + Parking Per sqft Q1 2005
202
1194 $517,900 $433.75 1.15 $498.81 $29,000 $624,585.00 $523.10
210
1190 $572,900 $481.43 1.15 $553.64 $29,000 $687,835.00 $578.01
211
1152 $592,900 $514.67 1.15 $591.87 $29,000 $710,835.00 $617.04
310
1190 $534,900 $449.50 1.15 $516.92 $29,000 $644,135.00 $541.29
409
1190 $544,900 $457.90 1.15 $526.58 $29,000 $655,635.00 $550.95
So using the same logic let's calculate the figures for 407...
407 1598 $769,322 $481.43 1.15 $553.64 $29,000 $913,721.29 $571.79
If you assume that unit 407 has better views then these units (its on the top floor) and has $45K of upgrades adds to the price per sqft. The owner is pricing it at $600 per sqft – simple math: $958,800 divided by 1598. Market rate for such a unit.
Mont-Greene units are selling for $560 per sqft. Only valet parking available.
The Grand View penthouse (currently off the market) looks excellent from the exterior, however looking at the floor plans: the kitchen is small, the elevator runs through the unit (noise is a potential issue – every time someone uses the elevator), the master bedroom is smaller than the second bedroom. But I still imagine (without parking) it will cost $1million when it come back on the market.
Regards, Martin.
(2005-02-28 )
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Review - With regards to 187 warren this is the Liberty Point building. The owner is the one who has put together the website. It has been on the market at least 5 months.
Square footage : 1598
Parking Space: Yes
Outdoor terrace: Yes, 2 120 square foot
Upgrades : 45,000
Attached is the intial price list for Liberty Point.
http://www.jerseycityhomes.com/cgi-bin/index.cgi?about+187_warren_pricelist
Cost per square foot = $481.43
1,598 * $481.41 = 769,323
Parking = 29,000
Upgrades = 45,000
Total cost = 843,323
The owner is looking for a $958,800 a profit of $115K.
If you look at the one unit left in Grand View
Penthouse
Square feet : 1,806
Cost = $986,580
Price per square feet: 546.28
Parking = an additional 26 or 29k
Upgrades = not included
Montgommery Greene is selling 1,250 units at $560 + per square feet
Maintaince in Mont Greene will be $778 for 2 bdrs, taxes 1.6% of the purchase price. Parking will be extra. This building will not be ready for another year at least.
The bottom line is, the apt in Liberty Point and the Mont Greene list prices, lead me to believe that Metro homes will not have any problem selling the Penthouse when they really put in on the market. My guess is that this will happen around the closing time when they can show the owners the true potential.
(2005-02-27 )
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Review - It has not actvely been marketed. All of the units were sold last year within a week or two of the initial listing. The only place the penthouse is listed is on the Chelsea Reality website. It has not appeared in any of the weekly newspapers or on any MLS. My guess is Chelsea/Metrohomes are waiting until the building is finished, provide all upgrades in the apt - granite countertops etc and they will increase the price. I am not in real estate and this is my first purchase, but that is my theory.
(2005-02-25 )
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Review - Did anyone check out our neighbor...
187warren.com
Also a Metrohomes Construction. Looks great.
(2005-02-25 )
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Review - Anyone have any thoughts on what is happening with the last unit remaining for sale? been on the market a long time.
(2005-02-23 )
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Review - As a non-owner of the building I also think it looks excellent and is a welcome addtion to the area.
(2005-02-22 )
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Review - What apt did you buy? I am on the third floor. Can't wait to move in on June 1st. The outside of the building does look great. I live locally and walk by the building on my way home in the evening (it is a bit out of my way but I like to see the progress that they are making. Anyone heard from Lou S. in Wells Fargo?
(2005-02-21 )
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Review - As a buyer in Grandview, I must say that the building's exterior is most impressive! Looking forward to moving to Jersey City.
(2005-02-20 )
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Review - They are starting to put in sheet rock starting on Monday. It should take around 2 weeks to finish. It looks like they are making progress.
(2005-02-19 )
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Review - Where is the ad for the grandview for sale?
(2005-02-11 )
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Review - could you provide the link? I did not see it anywhere.
(2005-02-08 )
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Review - I saw the apt listed on one of real estate sites for $599k including parking. It is located on the first floor of the building and is a 1 bedroom apt. I am not sure if they paid for any upgrades.
(2005-02-05 )
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Review -
New to market: A Grand View Unit: 980 sqft, 1 bed, 1 den: for sale $550K (i might be incorrect.)
(2005-02-03 )
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Review - Alpha Movers based in downtown JC
(2005-01-31 )
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Review - Does anyone have any recommendations on good moving companies?
(2005-01-24 )
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Review - Has anyone received any information on the closing date? I know the contract indicated that it should be April 15th 2005. Please let me know if you have heard of any delays or changes.
(2005-01-21 )
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Review - anyone know what the gym is supposed to be like?
(2005-01-17 )
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Review - Metrohomes don't (currently), to my knowledge, build building with swimming pools, gyms or doorman. This is an issue to a percetnage of buyers, however to those whom unconcerned by the lack of a small pool (useless for swimming), a room with some fitness equipment and weights (generally with one or two TVs hardly a gym) or a doorman (for the 5 packages you recevie each year).
The figures talk for themselves: the grand view yearly maintenance will be approx $4000+ per year. In the Clarmont Cove or the Pier House the maintenace will be $8000+ per year.
(2005-01-17 )
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Review - Does someone know how the tax abatement actually works and how taxes are calculated?
(2004-12-29 )
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Review - Very Ballpark:
Purchase Price * 0.015 - 0.2 (Abatement)
This works out correct (give or take $200) on the unit I recently purchase.
However, the whole tax figure is foggy and to be honest I don't actually think the City knows. It should be an easy to calculation figure but I'm sure it works to the advantage of the City if it's covered in mystery.
(2004-12-29 )
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Review - I'm not too sure about the location. Greene street is turning into a 4-lane street, which will only get busier (and noisy).
Plus the units facing Grand are north facing, hence light
(2004-12-23 )
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Review - Does anyone have an opinion on why the largest unit hasn't sold? It's expensive, however not that expensive. It's big, there's some nice outdoor space, the location seems good.
(2004-12-22 )
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Review - A very impressive and thoughtfully designed building. But it's a shame about the wooden floors, I think the lower units might suffer, especially when you consider that hardwood floors are been installed thought out. It’s strange when you consider that Metrohomes just finished Liberty Point and they used cement for the floors in that building, plus Fulton's Landing is using cement floors.
I had thought about purchasing the top corner unit, however the kitchen isn't what you'd expect for $950K+ unit, plus Metrohomes are not prepared to install granite as standard (it was an upgrade at an additional cost!). The only parking space was $45K (for two spaces).
Another potential issue with the best unit was that the only elevator in the building was right next to it. So there is a risk that you'll hear the elevator motor and door beep all the time.
Anyway, the building is going to look great. A strong addition to the area which I believe will only help increase prices in the surrounding neighborhood.
Product or Service - 40/50
(2004-12-17 )
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Review - Wood on Wood Construction--Scary stuff.
(2004-12-17 )
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