Author Topic: Hackensack Real Estate News Thread  (Read 21180 times)

Offline Editor

  • Administrator
  • *****
  • Posts: 4064
  • Karma: 17
    • View Profile
    • Hackensack Now
Re: Hackensack Real Estate News Thread
« Reply #30 on: July 31, 2007, 09:09:28 AM »
Latest story:  Opportunity knocks

Offline just watching

  • Long-time poster
  • *****
  • Posts: 928
  • Karma: -24
    • View Profile
Re: Hackensack Real Estate News Thread
« Reply #31 on: August 19, 2007, 12:45:28 PM »
Now that it is public knowledge that the real estate market is FIRMLY down, I wonder how many of the approved projects will get built ???

Looking at the previous posts, I see that includes Linden Street near Anderson (cleared, but no new construction), Second & Berry Street (cleared, but no new construction), and Jackson & Frederick (cleared, but no new construction), First Street near Essex (vacant foundation from the 1980's, recently approved for condos, but no construction), and several condo projects on River Street. Right now, nothing residential is getting built except the 17 units on Myer Street.

It looks like real estate runs in a 17 year cycle.  It was hottest in 2004, then previously in 1987, then 1971, and then 1954.  The mid-1950's brought us hundreds of suburban houses and hundreds of garden apartments, 1971 and 1972 brought us half of the high-rises on Prospect and Overlook Avenues, and who could forget the boom of the mid-80's, which culminated in 1987 and 1988.

let's see, what happened last time real estate tanked. Well, the boom peaked in 1987, and by late 1989 the boom was clearly over. There were condo projects planned for River Street, and they were never built. By 1994, real estate was deader than dead. Houses in Hackensack lost 40% of their 1987 value, and condo's averaged 60% down. If a single house was built, that was big news. it was so bad that people thought that multi-unit building would NEVER again be built in Hackensack. By 1997, it was warming slightly, and plots of land that were vacant for 10 years and previously approved for multi-unit were instead being built for one and two family houses (Ross & Linden, Passaic & Clarendon).  In 1998, someone decided to build two 4-unit condos not far from the Fairmount School, and it was a giant shock that anyone would build multi-unit in Hackensack.

Well, if the real estate cycle holds to form, real estate will again be deader than dead in 2011, and we'll again have the problem of vacant development sites. It may begin building up again by 2014, and be red-hot by 2021.  Now, if I can beg, borrow, plunder, embezzle, and steal enough money by 2011, I'll be in the right position to buy real estate !!!!

And what about that 300-unit Transit Village proposed for Zabriskie Street.  Well, at the rate the County is progressing with moving the County Police to South River Street, the Transit Village won't break ground for another 10 years. So they might as well proceed with the project. The market will be starting to heat up by then.

Offline Editor

  • Administrator
  • *****
  • Posts: 4064
  • Karma: 17
    • View Profile
    • Hackensack Now
Re: Hackensack Real Estate News Thread
« Reply #32 on: September 02, 2007, 09:33:28 AM »

Offline Skipx219

  • Full Member
  • ***
  • Posts: 113
  • Karma: 10
    • View Profile
Re: Hackensack Real Estate News Thread
« Reply #33 on: September 03, 2007, 01:57:44 PM »
I noticed today that Demo work started at the former Waterloo Sue's

Offline Editor

  • Administrator
  • *****
  • Posts: 4064
  • Karma: 17
    • View Profile
    • Hackensack Now
Re: Hackensack Real Estate News Thread
« Reply #34 on: September 03, 2007, 06:26:00 PM »

Offline Editor

  • Administrator
  • *****
  • Posts: 4064
  • Karma: 17
    • View Profile
    • Hackensack Now
Re: Hackensack Real Estate News Thread
« Reply #35 on: November 20, 2007, 10:10:41 AM »
Highlands' long-argued master plan released

Among other things, the plan proposes lake-management zones to regulate development near private residential lakes, cluster housing on portions of farm fields and a transfer-of-development-rights program that would pay a landowner in Kinnelon, for instance, for not building while denser development would be allowed in an urban area, such as Hackensack.


Hartz touts New Jersey office deals
« Last Edit: November 20, 2007, 10:13:28 AM by Editor »

Offline just watching

  • Long-time poster
  • *****
  • Posts: 928
  • Karma: -24
    • View Profile
Re: Hackensack Real Estate News Thread
« Reply #36 on: November 23, 2007, 12:33:46 PM »
Rehab is complete, and the restaurant that is replacing Waterloo Sue's looks great.  Not sure if they are open yet. Instead of the whole building, trim and all, painted one color (pink), we now have a building with a decidedly upscale feel to it.  It's off-gold with black trim.  Still slightly funky, but the black trim has raised panel sections and contains so much architectural detail that "it works". Plus the new stonework on the 2nd floor corner facing the 5-corner intersection adds greatly to the appeal of the building, and ties in architecturally with the slate roof, as well as the stonework on the "Pesto" restaurant across the street to the south.

A block away, at Elm and Grand, Hackensack is going to lose one it's most classic pre-1880 houses, along with all it's landscaping.  An office building will be built. Oh, well.

But generally speaking, the visual appearance of the entire business strip of Main Street north of Sears to the old Waterloo Sue's has vastly improved over the past 15 years.   

Note all the changes: the new 7-11 at Hackensack Ave, Demolition of Packards to construct Target, rehab of B&W Bakery, establishment of the new Irish pub south of B&W (relocated from Essex & Prospect), a new sports clinic at Linden & Main replaces a hideous industrial-type building, the new houses on the lower block of Ross Ave built 10 years ago to replace a long-standing vacant lot, rehab of the Fairmount Diner, and especially the demolition of Hackensack Jack Auto sales for a new retail strip including a Quick Chek. Other relatively minor improvements have also occurred.

Offline just watching

  • Long-time poster
  • *****
  • Posts: 928
  • Karma: -24
    • View Profile
Re: Hackensack Real Estate News Thread
« Reply #37 on: December 04, 2007, 12:37:06 AM »
I noticed the bar and restaurant replacing Waterloo Sue's (corner of Main St, Grand Ave, Spring Valley Ave, & Voorhees) painted a large Toucan with a rainbow-colored bill on the corner of the building.  I guess that's the owner's way of saying that the bar will be "fabulous".  Oh well, I guess everyone has the right to have their place somewhere.

Offline Editor

  • Administrator
  • *****
  • Posts: 4064
  • Karma: 17
    • View Profile
    • Hackensack Now
Re: Hackensack Real Estate News Thread
« Reply #38 on: December 04, 2007, 02:07:43 PM »
The Toucan was a Guinness character that first appeared in 1935. Click here for more info. As an Irish establishment, I'm sure that's what it means.

"Four native Irishmen will run the new establishment, to be called The Potcheen Still. Potcheen means "moonshine" in Irish." From: Waterloo Sue's serving its final brunch


« Last Edit: December 04, 2007, 03:23:12 PM by Editor »

Offline Skipx219

  • Full Member
  • ***
  • Posts: 113
  • Karma: 10
    • View Profile
Re: Hackensack Real Estate News Thread
« Reply #39 on: December 04, 2007, 03:36:04 PM »
In the early 1960's and before it was Corki's Corner - it 2 Joe's Tavern and
Hodde's Ice Cream Parlor was where Presto's is now

Offline just watching

  • Long-time poster
  • *****
  • Posts: 928
  • Karma: -24
    • View Profile
Re: Hackensack Real Estate News Thread
« Reply #40 on: December 04, 2007, 08:57:54 PM »
Hahahaha.  This makes my day ---- this is utterly hilarious. Thanks for the research, Mr. Editor.

I guess the new establishment is "safe" to visit after all.

Offline Editor

  • Administrator
  • *****
  • Posts: 4064
  • Karma: 17
    • View Profile
    • Hackensack Now
Re: Hackensack Real Estate News Thread
« Reply #41 on: December 16, 2007, 07:45:51 PM »
Top meat manufacturer finds cure for its tight N.Y.C. quarters

Now, they're very pleased with their find in Hackensack, 3,500 square feet of leased space in the same building as an electrical wholesaler. They'll add more space in the next few months, and eventually they plan to buy the whole building. They say the move will allow them to stop turning down business offers, particularly from retail stores.

Offline Editor

  • Administrator
  • *****
  • Posts: 4064
  • Karma: 17
    • View Profile
    • Hackensack Now
Re: Hackensack Real Estate News Thread
« Reply #42 on: January 29, 2008, 10:33:52 AM »
Eric Martindale asked me to post this:

Groundbreaking has occured for 361 unit high-rise apartment complex along the Hackensack River directly east of Berry Street and the Giant Market supermarket. Developers are currently clearing away 7 acres of asphalt and concrete onsite from the former Hackensack Ford-Mazda dealership. It includes a major segment of the Hackensack Waterfront Walkway, with a spur connection to River Street along the south wall of Kirk's Goodyear. Prior approval had been granted for townhouses, but the market changed and this new development was very recently approved by the City.  It is likely that this will add over 750 residents to the population of Hackensack. These will be high-rent apartments with security guards and swimming pools in each of two buildings.  This is expected to increase pedestrian traffic on Main Street, which is only one block away, helping to improve the business climate.  In other real estate news, the Planning Board gave a 6-month extension for the 90-unit, 8-story luxury building planned for State and Warren Street, only 1/2 block from Main Street.


Offline Editor

  • Administrator
  • *****
  • Posts: 4064
  • Karma: 17
    • View Profile
    • Hackensack Now
Re: Hackensack Real Estate News Thread
« Reply #43 on: January 29, 2008, 11:57:45 AM »

Offline Skipx219

  • Full Member
  • ***
  • Posts: 113
  • Karma: 10
    • View Profile
Re: Hackensack Real Estate News Thread
« Reply #44 on: February 19, 2008, 12:31:17 PM »
458 Passaic St. I saw an application for a 54 unit single family building on the Zoning Board Agenda - Is that the old Spreen's property?

 

anything