Once booming pre-pandemic luxury rentals in Hudson County cities strained to find footing at the onset of COVID-19 as renters increasingly set their sights on suburban apartments. For decades, diverse urban centers such as Jersey City and Hoboken have been highly coveted addresses drawing renters with modern and stylish homes, world-class amenities, great proximity to dining, shops and entertainment and plentiful mass transportation options.
These sought-after traits are now fueling a renewed attractiveness to upscale urban buildings as the fight against coronavirus has strengthened. In fact, if the spring rental season is any indication, luxury city rentals just may have fully returned to prominence with strong leasing velocity reported at many urban multi-family buildings.
Driving much of the activity has been young single-professionals and couples, some looking to move-up from smaller, less amenitized rentals, and others spurred by the opportunity to return to a vibrant city lifestyle and eyeing the potential resumption of in-person work.
“SoHo is cool but the five-story walkup to a closet sized apartment gets old,” Patrick Troy, a former resident of the trendy part Manhattan who moved up to a luxury lifestyle in the mile-square city of Hoboken last year, said. “Working from home full time, I wanted to upgrade. I wanted more space, I wanted to get a car and I wanted to golf more. Most important, I wanted to get way more value for what I was spending.”
7 Seventy House (www.7SeventyHouse.com), an upscale collection of 424 studios, one-, two- and three-bedroom apartments in Hoboken, offered everything he sought. The 14-story building offers homes with open floor plans with red oak engineered wood floors and expansive windows that bathe the homes in natural light. Kitchens boast Quartz countertops, white ceramic tile backsplashes, custom cabinetry, and a premium GE stainless-steel appliance package, with in residence Bosch washer and dryers. Luxury baths are outfitted with grey mineral stone tile and Moen & Kohler fixtures. Monthly rents start from the $2,300s, with incentives that include up to three months free rent.
Enhancing resident lifestyle at 7 Seventy House is a complete package of resort-style amenities, including 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 co-working lounge and coffee station and a conference room with access to an outdoor lounge with a fire pit. The amenity spaces are strategically located on multiple floors with views that include the Manhattan skyline.
It’s not just Hudson County cities that are experiencing a resurgent rental market. Some of New Jersey’s most recognizable downtown centers have also recorded a noticeable uptick in interest as summer approaches. At 30 Court, an upscale four-story rental building in downtown Morristown, more than 50% of its 58 apartments have been leased due in large measure to high rental activity since the start of 2021.
The building has attracted young urban professionals such as former Jersey City Heights resident Mallorie Thomas who was seeking a new downtown apartment lifestyle.
“I was hoping to move closer to the Florham Park area for work reasons and was looking for a home with great amenities, modern design, lots of natural lighting, nice outdoor space,” she says. “I looked exclusively in the Morristown area and viewed almost all local apartments. Out of all the apartments I toured 30 Court had the most elegant finishes, offered incredibly spacious homes and provided top-class amenities, all complimented by technology that enhances the ease of living. It was by far the nicest space for the best price. The building is also just two minutes from restaurants and nightlife yet is still tucked perfectly away to have peace and quiet.”
30 Court (www.30Court.com) is a boutique collection of oversized, ultra luxe homes with a full suite of amenities just feet from Morristown’s Green and South Streets, where entertainment and cultural opportunities also abound, including the renowned Mayo Performing Arts Center, home to music, dance, comedy and more, and the Frelinghuysen Arboretum. Of course, Morristown is widely recognized for its role in the nation’s revolutionary past and nearby museums and historical sites such as Washington’s Headquarters pay homage.
30 Court offers two-bedroom and two-bedroom-plus-den homes and is situated on Morristown’s highest elevation to provide unrivaled panoramic views of the surrounding landscape. Elegant homes feature open and light-filled floorplans with upscale features and finishes that include 9’-ceiling heights, full and Juliette balconies, in-home, separate laundry room with full-size washers and dryers, gourmet kitchens boast quartz countertops and custom-built cabinets and sumptuous master bedroom suites feature spacious walk-in closets and luxurious bathrooms with porcelain floors, showers, and bath walls Net-effective monthly rents for the stylish homes start at $3,825 which include a limited time incentive of 1 month free on a 13-month lease and 2 months free on a 26-month lease.
The refined lifestyle at 30 Court is highlighted by sprawling courtyard unlike any other in the downtown Morristown marketplace as part of its amenity package. The private, lushly landscaped courtyard features a lawn area with shaded seating and dining areas, oversized fireplaces, tranquil water feature and an outdoor kitchen area with grill stations. There’s also a Clubroom with a bar and seating area, and a spacious Wi-Fi-enabled Entertainment Lounge with a flat-screen TV and integrated Sonos® sound system.