RealEstateRama Property, Rentals, Transactions
Continuing the Christie Administration’s efforts to encourage sustainable homeownership, the New Jersey Housing and Mortgage Finance Agency (HMFA) announced today the launch of the New Jersey HomeSaver Program (HomeSaver), a foreclosure prevention initiative. The HomeSaver program offers eligible New Jersey homeowners up to $50,000 in financial assistance to help bring their monthly household payment to an affordable level.
Assembly Republican Jack Ciattarelli, R-Somerset, Hunterdon, Mercer and Middlesex, said Jersey City losing $80 million in property taxes due to tax abatements is a prime example of how the school funding system is manipulated. A recent news report revealed the lost property taxes.
Freeholders Approve First Buyouts of Flood-Prone Properties in Long Hill Through Innovative County Program
The Morris County Freeholders have approved a $622,394 grant allocation for the buyouts of two flood-threatened residential properties in the Stirling section of Long Hill, marking the first such purchases in that township under the county’s innovative Flood Mitigation Program, which has previously approved $4.9 million to partially fund purchases of 55 homes in seven towns.
Central New Jersey’s multi-family trading pace is quickening at the mid-year mark, with four transactions involving a total of 106 units in Plainfield recently arranged by Gebroe-Hammer Associates. The properties were located throughout the Union County city
40 & 50 Union Avenue Medical/Professional Office Campus Leasing Assignment Awarded to Hopkins, Sampson...
Novus Equities, LLC, has named Hopkins, Sampson & Brown (HSB) Real Estate Advisory Services, LLC, as the exclusive leasing agent for 40 & 50 Union Avenue Medical/Professional Campus, the company’s flagship office property in Irvington, N.J. The leasing assignment is being spearheaded by Christian Benedetto, HSB director of the Pine Brook, N.J.-based real estate services firm
Extremely favorable demographic and employment trends, coupled with sustained rent and valuation appreciation, are the leading drivers of historic multi-family trading along the New Jersey/Pennsylvania corridor, according to investment brokerage firm Gebroe-Hammer Associates. At the mid-year mark, the firm’s transaction pace is on track to surpass last year’s benchmarks, as evidenced by the recent $165.8+ million in sales involving 912 units in a two-week timeframe.
After 85 years in business, Clayton & Clayton continues its legacy as a family business. Now owned and run by its fourth generation of Claytons, the company is more successful than ever. Asbury Park Press recently published a piece on Shawn Clayton, where he discusses the history of the business, the real estate market, and gives a peek into his own luxurious home.
EPA Extends Public Comment Period on Cleanup Plan for Residential Properties at Sherwin-Williams/Hilliards Creek...
The U.S. Environmental Protection Agency has extended the public comment period for its proposed cleanup plan to address contaminated soil on residential properties at the Sherwin-Williams/Hilliards Creek Superfund site in Gibbsboro and Voorhees, N.J to August 1, 2015. The original public comment period for the cleanup plan was scheduled to end July 2, but the EPA is extending the comment period in response to a request from the public
Legislation sponsored by Assembly Republicans Robert Auth and Rob Clifton to consolidate oversight of local governments and discard unnecessary state mandates was approved by the General Assembly today.
MAST Construction Services, Inc. an award-winning, Little Falls, NJ-based project and construction management services and owner's representative firm, today announced that it is serving as the construction manager for the fourth phase, a $10.5 million project, of one of New Jersey's most high profile public park projects: Berry Lane Park. Situated at 1 Berry Road in Jersey City, between Garfield Avenue and Woodward Street, the 17.5-acre park is undergoing a conversion which will turn the former brownfield site, previously home to industrial yards, facilities and warehouses, into recreational space for Jersey City residents to enjoy.
Menendez Leads Call for Investigation, Action to Address Mortgage Industry Housing Discrimination in Minority...
U.S. Senator Bob Menendez (D-NJ), Ranking Member of the Senate Subcommittee on Housing, Transportation, and Community Development, led a group of senators in a letter to federal housing, finance, and consumer protection regulators, calling for an investigation into potential violations of the Fair Housing Act by banks and lenders neglecting the maintenance of foreclosed homes in minority communities in favor of predominantly white communities.
A very special home just sold for $1.8 million, representing the full asking price. The Buyer saw the full value of this property while the Seller (who was also the Designer and Builder) created a Jersey Shore paradise. The "Cottage by the Sea" is a fabulous modernist design on the corner of Newman Avenue in Mantoloking. Its clean lines and modern décor are reminiscent of a Nantucket cottage, complete with flagstone patio and inviting perennial gardens to relax in after a day at the beach
A bill co-sponsored by Assemblyman Jay Webber that increases the “Safe Haven” locations where at-risk newborns may be placed won approval from the Assembly Women and Children Committee today. Under the current “New Jersey Safe Haven Infant Protection Act,” safe haven options are limited to emergency departments of general hospitals and state, county and municipal police stations. Webber’s bill, A-4149, expands Safe Haven locations to include fire stations, ambulance, first aid and rescue squad sites that are staffed 24 hours a day, seven days a week
A real estate developer and landlord of commercial buildings in Palisades Park, New Jersey, appeared in federal court today to face a criminal complaint charging him with allegedly soliciting a $50,000 bribe payment for a Palisades Park borough official, U.S. Attorney Paul J. Fishman announced
Gebroe-Hammer Associates has represented Forest Realty in the estate sale of two separate multi-family properties sold for a combined $113.5 million in Springfield and Morristown, N.J. The firm’s brokerage teams, led by Managing Director Joseph Brecher, also identified the buyers of Short Hills Village Club (Springfield) and Franklin Manor (Morristown). The sale of the properties, which were owned by Forest Realty for over 40 years, represents one of the state’s largest multi-family transactions recorded in 2015 thus far.
NJAA opposed S-1585, sponsored by Senator Turner (D-Mercer). The bill would prohibit the use of credit scores in evaluating the creditworthiness of applicants seeking to rent either affordable housing or market-rate housing while utilizing federal or State tenant-based rental assistance vouchers. Additionally, the bill sets forth specific criteria that apartment owners may use to evaluate such applicants.
Also in attendance are approximately 75 members, leaders, and staffers enjoying the momentous celebration. The 20,000 square foot building, expected to be completed in 2016, will host the New Jersey Realtors staff on floors 2 and 3, with the ground floor set to be leased out for retail, restaurant, or office space.
Diane Turton, Realtors, founded in 1985, recognized the outstanding performance of its management, agents and staff during a gala celebration at Doolan’s Shore Club in Spring Lake on May 21, 2015. “We look forward to this event each year when we can recognize the best of the best and acknowledge their outstanding achievements”, said Diane Turton, President/Founder of Diane Turton, Realtors.
Also in attendance are approximately 75 members, leaders, and staffers enjoying the momentous celebration. The 20,000 square foot building, expected to be completed in 2016, will host the New Jersey Realtors staff on floors 2 and 3, with the ground floor set to be leased out for retail, restaurant, or office space
On June 1, 2015, the Assembly Housing and Community Development Committee approved legislation A-3069 supported by New Jersey REALTORS® that creates standards for election and recall of homeowners’ associations board members. The bill sets forth criteria for required numbers of board members for homeowners’ associations and requires that owners within an association be allowed to vote anonymously.