The Next Park Slope? Union City NJ.
Families, Schools, Clean Streets — What more could you want?
Fine, Al Capone’s hit-mans house is there, too.
Here is how Park Slope is described “Rich in history and yet charmingly contemporary, Park Slope — located in northwest Brooklyn — is one of the most desirable neighborhoods in all of New York City. Chosen by a multitude of publications and groups as the best of the best — including New York Magazine and the American Planning Association -Park Slope is a magical combination of quiet tree-lined streets and a thriving, vibrant and diverse community. This neighborhood offers residents top-rated restaurants, bars, farmer’s markets and cultural events. Brooklyn Academy of Music, the Brooklyn Botanic Garden, theBrooklyn Museum and the Brooklyn Conservatory of Music are all located in Park Slope; the arts are alive and well in this community”.
Real Estate Prices in Park Slope have soared to levels very few people can afford. From my experience, families that buy in Park Slope have generations of wealth, or money that doesn’t run out. The streets are clean. The restaurants are great. The schools, top rated in all of NYC. Location, great as well.
In today’s market, people do not want to move. They want to get the full city experience. What does this mean? This means that when people buy a property to live in, they want to be able to walk to the restaurants, walk to the grocery store, walk to the gym, walk to the park, lay on some grass close by, walk their dog in the dog park, and most importantly, have great schools, with great teachers, who provide a great education to their children.
Now, Union City. No, not Union Nj, UNION CITY! Union City has the infrastructure to be not only the next Park Slope, but outpace it. It may not have the full history and architecture to blow you away every block, but it does have the location. Less than 12 minutes driving into Midtown NYC. Parks are every where. Oh yeah, and SCHOOLS! The schools are key. So this means a New Yorker could move to Union City, drop their kid off at school, and then drive if they wanted to midtown in less than 15 minutes door to door. That’s right. Prices have increased steadily over the past several years (As they have every where else in the NYC metro area) but, rents are still between $900-$1400 for the most part. A lot of the community has been there for decades. Apartments do not turn over (people don’t move out), and the landlords are old school and have owned the real estate for many, many years.
When the prices begin to soar, like everywhere else, the old timers will begin to liquidate their properties, take the money, and give it to their children and grandchildren. It has happened, everywhere in NYC almost. HARLEM, Brooklyn, parts of Queens, Definitely Manhattan… and Now, it is happening in NJ. What we all (in the REAL ESTATE game) have experienced over the last decade, of profit taking, high values, is now being replicated in Northern NJ. Don’t miss the boat.
Now, back to Al Capone’s hitman’s former house. 1112 Palisade Avenue. A beautiful, monstrosity of a house, sitting right in the middle of a residential block. Don’t be alarmed by the beautiful, non-working fountain, in the middle of the front yard, as if it was located in Italy. As you walk up to the house, you have this unknowing curiosity of, How did this house get here and why did they built it like this? Well, I don’t know either of those answers, but it is really cool. The top floor of the house is somewhat like a Green-house. Current Artist Ocean Clark http://www.oceanclark.com/ lives there. The full panoramic glass windows with the unobstructed NYC skyline views are INCREDIBLE. You can see the entire city lit up. If you can check it out, go buy some art from Ocean and he will give you a quick history of the house.
Back to Real Estate. By the way, the guys to the left I believe are all from NEW YORK, and just partied in New Jersey… Just sayin People. Location, Location, Location. You heard it here. NJ will outpace NY growth. Maybe Brooklyn, Long Island City, and Astoria have cooler names. Maybe Jersey has a big stigma, and there may be parts that smell. But, there is more to JERSEY than just the Jersey Shore. Hoboken, Jersey City, Union City, Bayonne, Edgewater, North Bergen, West New York, Ft Lee all have great things to offer. I would be happy to discuss more with you and guide you in your real estate and financing journey.
18 months to make the best investment of your life. The longer you wait, the more money you miss out on. Make the smart move. JUST DO IT.
The Mortgage Quarterback
NMLS # 69987
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