Long drawn to Hudson County, NJ for its affordable luxury, added space and proximity to Manhattan, urban renters are finding even more reasons to set their sights on Hudson River residential hotspots in the wake of the COVID pandemic. While many news reports have focused on an exodus to suburbia in New Jersey, Long Island or Westchester County, there is still a large pool of renters not quite ready to sacrifice the vibrancy and convenience of city lifestyle.
Enter the New Jersey Gold Coast which is experiencing an energized rental market to start 2021 as renters react to the perfect balance of an energetic metropolis and a respite from the crowds of Manhattan. Tremendous access to NJ Transit PATH Trains and express bus service into Port Authority, a dynamic local scene of restaurants, shopping and recreation and an inventory of luxury, highly-amenitized rental buildings have enabled waterfront cities like Hoboken and Jersey City to remain strongholds in the migration to the Hudson River waterfront.
“We’re getting a high volume of renters who have grown weary of New York City, but can’t pull themselves too far away from its lure,” says Jaqueline Urgo, President of The Marketing Directors, exclusive marketing and leasing agent for several Jersey “Gold Coast” for sale and rental buildings. “We’re also seeing renters who have moved to the suburbs temporarily at the start of the pandemic and are now moving back. Many are anticipating a level of normalcy to resume in 2021. This could mean either commuting for a full or partial return to office, or simply wanting to remain close to New York City when its world-renowned entertainment, culture and nightlife come back to life.”
Two rental properties under the direction of The Marketing Directors – 7 Seventy House in Hoboken and 100 House in Jersey City – are indicative of the heightened interest in Jersey Gold Coast apartments. Both luxury buildings have recorded high leasing velocity since January 1st and attracted renters both locally, and from the New York City boroughs. The properties have proven attractive to the renting public with ultra-luxe homes, a wealth of amenities indoor and out, and locations removed from the congestion of downtown centers, but still within walking distance of shopping, restaurants, and more.
Jordan Berger is one of many New Yorkers whose priorities shifted in the wake of the COVID-19, opting to trade in Manhattan rental living for a more luxurious apartment and a complete lifestyle.
“The Coronavirus created the desire to move out of the Upper East Side,” Mr. Berger said. “I realized that the City buzz no longer existed, and an apartment is now so much more than a place to sleep. It has evolved into a space to entertain family, an office for work, and a gym.”
While finding the perfect homes for a 24-hour lifestyle was the main priority, a strong sense of community and vibrant urban scene were also important factors when choosing a new home. With that in mind, Mr. Berger’s apartment search included much more than homes. He also set out to discover all the dining, entertainment, and local treasures in neighborhoods he was considering with the goal of acquiring a strong feel for its lifestyle and flair. His search took him to neighborhoods in Long Island City, Queens, the Upper West Side and Hoboken, where he chose the 424-home 7 Seventy House developed by Bijou Properties and partner Intercontinental Real Estate Corporation at 770 Jackson Street on the city’s western edge.
“Layout, price, location, and knowing that we will be the first occupants of our home were the differences that made us choose 7 Seventy House,” he said. “The floorplans made it easy to configure the placement of furniture and fully utilize the space without having to be creative. We had planned to rent a two-bedroom with the second bedroom\ utilized for storage and a working space. With all the communal spaces that the building has to offer, you don’t need a spare bedroom to convert to an office. The one-bedroom is spacious enough which the main room can be set up with furniture to have a full kitchen table, couch and media system, as well as a desk and still have room to breathe and not feel cluttered. The best part is the view of New York City, we can see the World Trade Center and Lower Manhattan; you can never get this view if you lived in Manhattan.”
7 Seventy House has one of the most comprehensive amenity package in Hudson County with a penthouse pool and roof deck with lounge seating, expansive amenity deck with BBQ stations, multiple outdoor gardens, bocce ball court, state-of-the-art multi-level gym, playroom, game room, indoor bike storage, on-site dog park, dog grooming room, alcove with coworking lounge and coffee station and a conference room with access to an outdoor lounge with a fire pit. In conjunction with the building, the development team built and donated a two-acre public park right outside the doors of 7 Seventy House that includes a plaza with step seating and a tilted lawn panel, expansive open areas to accommodate vendors and seasonal markets, a children’s playground, a one-acre green space designed for active and passive recreation uses and a state-of-the-art 6,835 square-foot community gymnasium.
100 House, a 137-unit rental at 100 Hoboken Avenue on Jersey City’s Hoboken border, has seen a similar high level of velocity that included strong leasing since the start of the New Year. Like its neighbor to the north Hoboken, Jersey City often draws the attention of renters with its vibrant arts and cultural setting, diverse dining and nightlife scene, scenic waterfront promenade with abundant parks, and convenient mass transportation options into New York City.
This includes Sheila Arias and Pablo Angeles, who made the move to 100 House after living in The Bronx with their 7-year-old daughter. The family landed at the building after informally researching apartments in the New York Metro area. Like many others, they found luxury New York City rentals that met their lifestyle needs exorbitantly priced. Wanting a location near Mr. Angeles’ work in Brooklyn, they narrowed their search to Westchester County, NY and Jersey City, Harrison, and Hackensack in New Jersey.
“We were looking for a new home that had more living space and a washer and dryer,” said Ms. Arias. “With remote learning and remote working going full time, amenities were also a priority. My husband and I are very active, so we wanted a full gym, as well as a lounge area and outdoor space. 100 House had all of that, and the co-working spaces and game room for our daughter really stood out.”
Developed by BNE Real Estate Group, Hoboken Brownstone Company and McKinney Properties, 100 House features spacious studio, one and two-bedroom homes and 35,000 square feet of amenities that include an elegant lobby lounge. resident lounge with screening room, game lounge, bowling alley, multi-sports simulator, movie theatre, resident dining room, and a fully equipped fitness center, co-working lounge and second-floor sun terrace with private barbeque and dining area, outdoor bar, games, fire pits and lounge seating.
Additional information on 7 Seventy House can be found at www.7seventyhouse.com, and more information on 100 House can be found at www.100Housejc.com.