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K. Hovnanian at Paulus Hook
Description - Luxury Condominiums - 68 units. 1-2 bedrooms and 1-2 baths with covered parking
Website - www.khov.com
Address - 161 Warren St, Jersey City, New Jersey ( NJ ) 07302 Map It
Telephone - (888) KHO-VHOME
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Review - I was at the sales office today, I'm looking for something with my wife. We like the area, but are trying to decide what to buy; there's a lot out there right now. This board has been helpful, but I don't think everything on this board is what I heard from the salesperson today. I want other people to be helped too, so here's what I found out:
-2nd floor is the only one they're selling right now, then 3rd in Sept., 1st in Jan., and 4th in May '06
-2nd floor has 4 homes left, 16 already sold - it is not sold out yet
-the ones on the second floor are available to go under contract immediately (we almost did on the B4)
-apparently they're going to start advertising in this weekend's Star Ledger, which is the first time they'll be advertising in print
-Someone on this board said there's all the bells and whistles, like a pool, etc. There's a courtyard (like Fulton's Landing) on the 2nd floor, FREE parking (no cost, and no extra maintenance), a gym, a restaurant, and bike storage. There's no pool or concierge.
-the floor premiums are:
2nd floor: $0
3rd floor: $10k
4th floor: $40k
1st floor: don't know
-Someone said that it was going to be $40k between each floor, but that's not right. So overall, the homes are not going to have as much difference in price between the whole building that people have been saying; i don't know if that's a good or bad thing, but I just wanted to tell everyone what I found out
-2nd and 3rd floors have 9' ceilings, 4th floor has 12' ceilings (which is how they explain the $40k difference); 1st floor also 12' ceilings
-maintenance fees are based on sft of the unit, for the ones remaining on the 2nd floor it's b/w $474-$605/mo.
-taxes are a 20 year abatement (whoever said that was right), about 1.5% of the price
-you DO have to give 10% deposit, but I asked what they do with that money, and it turns out it's just put into escrow, it's not used for a construction loan to build the units (like someone here said) - I think a big company like that probably has plenty of money to build the building without taking out loans on people's down payments, so I�m fine with that. I kind of like my money being in a house instead of in the stock market, at least the housing market is better than stocks�
-it's $10k on contract, not $5k. but it still goes towards that 10%.
My wife and I are still trying to figure out which building is the best in the whole area. We like Hovnanian, and we're leaning that way, but everyone here has us scared that we're paying too much.
(2005-07-06 )
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Review - Of course, you might well be kicking yourself in 15-months time when the prices are 20% highly and the best units have gone.
Of course, the market might stand still, but you'll still be looking for a home.
Of course, the market might tank, and you might be looking at a 10%/15% discount. But unless you're paying cash the increase in intreset ratewill negate the saving.
(2005-07-02 )
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Review - Q: Anyway, where should I go....any advice?
A: What's your budget?
(2005-07-01 )
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Review - I just gave up too. 18 months is too long too wait.
(2005-07-01 )
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Review - I was a serious buyer here.
And I just gave up.
They had three 2b/2 bth unit which is left over from selling. They will open third and 4th (total 4th story) soon with $40,000 plus increase to each floor.
The major reason I gave up was their payment schedule.
you pay $10,000 now, and within 30days, you pay more than 10% for closing.
And you just wait for 1 1/2 year to occupy.
You can do. But I would use the money for other thing in 1 1/2 year.
Some people at here said about Fulton-landing, the next bldg. Most people didn't like their design.
Personally, I like their design much better than box type brick K.Hov bldg.
Maybe they came from Boston..... all brick. But, boston brick has tradional color. This is not applied to this bldg.
Finishes. I am a modern design preferred person. Rather than granite, I would have Corian for Kitchen which is more expensive.
Overall quality, K.Hov bldg is better than Fulton. $/SF is about $540 VS $610.
I couldn't decide yet. But, I just gave up K.Hov.
I called weehaken and Hudson new project from K.Hov.
They have exact same payment schedule with occupancy in 18month later.
In my view, (My profession is related to this. I wouldn't compare the construction cost and short-term construction loan, it is waste of time to say here...).
But I simply don't want to give my money to build bldg. with no money from K.Hov.
Anyway, where should I go....any advice?
I like Paulus Hook
Product or Service - 2/50 Customer Service - 2/50
(2005-06-30 )
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Review - Has anyone purchased a unit ? do you know exactly when are they intending to bulid or complete the construction ? since i was passing by and its been 2 -3 months they are yapping about this building and cursing Fulton's landing, but i only see them digging the ground yet ?
By the time they finish and give the units to owner, the market will be upside down and for all you know, you are sitting with no returns, only losses. its better to go with Pulte since they are almost about to finish their construction, and start releasing the units by end of july. Watever the construction maybe, its atlest better then Liberty Towers where they have finished constructing before even they have begun selling.
Reviewed by - (2005-06-27 )
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Review - 90K more is a significant amount of money, and I assume you're not referring to the top floor with the 12' ceilings?
It's a difficult call. The Warren/Dudley corner unit will have a lot more light than the Dudley/Fulton corner, especially the lower floors.
Given the option, I'd order my selection from better to worst:
1. Corner PH units (South/East will get the most light). 2. Any PH unit facing any direct - because the 12' ceilings will be really nice. The other floors will have 9' ceilings. I would be concerned about light on the top floor regardless of the direction it faces.
3. Any PH unit with outdoor space.
4. Any other floor unit with outdoor space.
5. Any of the other floor corner units - remember the South East will have the light.
6. The ground floor units with access from the street, it's nice to be able to walk into your own home and not navigate corridors, lift, etc.
7. Then start considering any unit in Fulton's Drowning :P
(2005-06-21 )
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Review - Its 758K ~90 K more
(2005-06-14 )
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Review - I think light might well be an issue, especially on a lower floor.
How much more expensive is the Warren and Dudley corner?
(2005-06-13 )
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Review - I am talking about the other corner which is B7 and not B7A. This is the corner unit unit next to Fulton's landing. (other end from the B7A unit)
It is priced at 669,000 for the 1294 sq foot. It looks like light may be an issue in that unit Thoughts
(2005-06-10 )
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Review - The corner units on Dudley and Warren are the best - which is floorplan B7A I think. The floor plan numbering is stupid and not simple to understand.
All of those corner units are 1294 sqft.
The top floor corner will be around $850K when it comes on the market, which is about $650 per sqft.
It's not a bad building, I'd prefer it if the units had some outdoor space, like a deck or a terrace. I hope it's a real brick construction, and not the stuff Fulton's Landing is using. Plus at least all the units get gas and central A/C which Futlon's Landing only decided that the penthouses should get.
(2005-06-09 )
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Review - Our Grand Opening weekend at K. Hovnanian� at Paulus Hook was a huge success!
But if you missed your chance to purchase on May 21st, we're happy to announce that an additional twelve homes will be released for sale on Saturday, June 18th!
Only a limited number of homes are being released at this VIP opening, and purchase is by appointment only
Appointments will be set on a first-call, first-served basis
Purchase appointments will be held Saturday, June 18th
Call (201) 435-2320 after 10 AM on Monday, June 6th to reserve your spot! (Appointments will be arranged by phone ONLY. No appointments by e-mail.)
Only 1 contract taken per family per appointment. A limited number of homes will be available for investment purposes.
Only twelve homes will be available at this special VIP-only event, each offering 2 bedrooms and 2 baths. This selection of homes ranges in size from 1,155 to 1,513 square feet. Prices begin in the low $600's.
In all, 68 luxury garden homes will be available at Paulus Hook, in a building featuring elevator service, a fitness center and covered parking. Step up to a luxurious home in one of Jersey City's most exciting neighborhoods, featuring convenient commuting and exciting amenities including restaurants, cafes, retail shops, and nightlife!
Only Paulus Hook has so much to offer, including:
A choice location situated near Liberty State Park and the Hudson River - the center of the great New York/New Jersey metropolis.
Manhattan is just minutes away. Close to convenient PATH and Light Rail service, plus major roadways, airports and train service to everywhere.
Near the Meadowlands for championship sports, thoroughbred & harness racing as well as headliner concerts.
Convenient to shopping, hotels, dining and much more!
As one of our special V.I.P.'s, you'll be among the very first to purchase a home in this sensational community. Don't let this golden opportunity pass you by - luxurious garden homes along the Jersey City riverfront are in great demand, and we anticipate brisk sales when we open to the public.
Be sure to call us on Monday at 10 AM to schedule your purchase appointment!
Sincerely,
(2005-06-07 )
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Review - You should be in pretty good shape with light in that unit. In addition to views both of the city and statue. The unit is $740k (99k location premium). Good luck..
Also FYI to all they have extra parking spaces availalbe where you can sign up to potentially buy a second space. Are you folks from Fulton's landing listening this may solve your parking space deficit.
(2005-06-07 )
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Review - I am seeing them next Saturday. Most interested in the B7 corner unit. This is the corner unit next to Fulton's (end of street) facing Hudson Pointe. In my opinion one of the best floor plans in the building My only concern is given that the unit faces South-West what light can I expect.
Thoughs from the real estate gurus will be apprecaited!
(2005-06-06 )
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Review - floorplans are up on the khov.com site-- interesting corner units!
(2005-06-03 )
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Review - So anyone get in on these this past weekend. What's the word, prices, etc.
(2005-05-24 )
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Review - Buy 1 today and flip it Is exactly the rational that is causing this bubble. There is a difference at buying below market and selling vs buying at market. At this point in the real estate cycle too many people are doing this which is causing the artificial demand here. I would be skeptical to think after all of these projects that are going up in a year you will get 600 a sq ft back on a re sale. Plus you have to think about all the closing cost, taxes etc. Be prepared to position your self should things head in the other direction. Ask yourself if your Mortgage and taxes etc on the unit warrant that in rent. If your costs are below what rent would get for a unit you are safe. Otherwise you are in for a nightmare if you can't resale. Too many people are doing this and dont know what they are doing. When everyone is doing it you know it is too late probably not a wise choice. Needless to say it will be a great building and great place to live for the long term owner.
(2005-05-20 )
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Review - quote: I was told 600 per sq.ft. which includes parking. However next door at Fulton's Landing a top floor 6th and 7th 2 story duplex of 1450 sq. ft. prices at $529 per sq. ft. Whereas Khov is $600 per sq. ft. for the second floor. It does concern me. The 1 bedroom's at Fulton's Landing on a lower floor is over $700 per sq. ft. Very strange.
It's not that strange, think about it.
Size % per sqft Price
700 $700.00 $490,000.00
1000 $650.00 $650,000.00
1500 $600.00 $900,000.00
or
Size % per sqft Price
700 $700.00 $490,000.00
1000 $700.00 $700,000.00
1500 $700.00 $1,050,000.00
It's a way to increase the price of the smaller units (which many people can afford) without making the larger units look very expensive.
Steve
Reviewed by - S. Ikin (2005-05-20 )
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Review - I am buying a unit this weekend and will probably flip it. Anyone interested in a 2 bedroom plus den unit a year from now in this building.
(2005-05-19 )
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Review - The first appointments are taking place this Saturday May 21st. I was told 600 per sq.ft. which includes parking. However next door at Fulton's Landing a top floor 6th and 7th 2 story duplex of 1450 sq. ft. prices at $529 per sq. ft. Whereas Khov is $600 per sq. ft. for the second floor. It does concern me. The 1 bedroom's at Fulton's Landing on a lower floor is over $700 per sq. ft. Very strange.
(2005-05-19 )
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Review - I live in paulus hook too, what surprises me is that how can anyone say good things about paulus hook, they are charging people for parking, when they are asking $550 per sq feet. WTF they just want to put a decent face that other buliders are charging and they are not.
I don't think its advisable to actually give $550 per square feet for pre construction houses, when you know you are shooting the arrow in dark.
Pier House they are asking $565 per sqaure feet, when you can see the layout atleast.
I don't know how anyone can give so much for pre construction.
Reviewed by - (2005-05-18 )
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Review - Do you have a sense for what the monthly maintaince fee will be for the building.
I am assuming the condo will have the 20 year tax abatement - could you please confirm.
I thought that units were not being listed until the end of this month. Any updates would be helpful.
(2005-05-18 )
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Review - The Scoop on K. Hov Paulus Hook
My wife and I went over to the K. Hov sales office this afternoon at Droyers Point to get the scoop on K. Hov Paulus Hook. We aren't thinking about moving (currently live on Morris Street) just wanted to get some more information. Here are the details and my impressions. I have no affliation with any buildings, just a Paulus Hook resident who keeps a close watch on real estate and development in our neighborhood.
Opening/Move In: The building will be finished in September 2006. Owners will begin moving in then, starting with the 4th floor (top floor) and working their way down to the 1st floor. From first move-in to last will take 8 weeks.
Cost/Financing: The units are approximately $600/square foot. The smallest units are 729 square feet. NOTE: There is one 589 square foot unit on the first floor, right next to the front desk and lobby. I do not remember how big the largest units are. When you sign your contract (which you have to have an invitation/appointment for a meeting to get to the contract part) they ask for 5K down. You must then come up with 10% of your unit's cost within 30 days. The 5K down counts towards the 10%.
Availability: They are selling it by floor (which there are 4). The second floor is the first to go on sale (right now) and it is sold out. The third floor is scheduled to go on sale around September. They anticipate that when the 4th floor goes on sale, the cost per square foot will be around $615. If you buy on the 4th floor, all the units will have either 10 foot or 12 foot ceilings, which you will pay extra for. You will also pay extra for living on the 4th floor.
Amenities: The good thing about this building is almost everything you need/want is included in the cost. Hardwood floors throughout, granite countertops throughout, full-size washer and dryer (not stackable) etc. Units also come with DirecTV. Building comes with all the usual bells and whistles. Swimming pool, courtyard, fitness center etc.
Upgrades: They are available for the floors, countertops etc but that's if you want a more expensive granite or hardwood.
Parking: Each unit comes with one deeded space. No extra fees. This is a HUGE deal living in Paulus Hook.
Vs. Fulton's Landing: Compared with Fulton's Landing, which is being build next door, I would say it is a much better deal. Cost wise, the square footage is very comparable, but it's the parking and the upgrades that separate the buildings. Parking is free at K. Hov, but you must buy a spot a Fulton's Landing, and there are not as many spots as there are units. This will become a big issue. As for the upgrades, K. Hov really provides every bell and whistle you can think of. Only if you want a better grade of granite or hardwood floors do you pay more. The total upgrade package for the K. Hov tops out around 25K additional, while the Fulton's Landing tops out at about 75K additional. In the units, at K. Hov they are granite throughout, (kitchen, bathrooms) but at Fulton's Landing they are Corian. At Fulton's Landing, washer and dryers, and refrigerators are optional upgrades.
Please feel free to add additional information, since I am sure a lot of people have other insight. I just hoped to share some information to those interested in buying into this great neighborhood.
Good Luck
Reviewed by - oregonducker (2005-05-15 )
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Review - i just heard that PAULUS HOOK is $500's per sq. feet ....... man crazy ..... anyways thanks guys this makes my house worth millions.
Now i can relax and sit, since i know i easily get $600 per sq feet for my condo.
Reviewed by - (2005-05-12 )
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Review - Hope everyone got an appointment for the May 21st. About $550 sq. ft. for second floor which is being sold first. 15 units and then 3 floor then 1st and finally 4th. Parking is included in the price and they have central A/C which they don't have at Fulton's Landing and you must pay 43k for a parking space
(2005-05-12 )
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Review - Location, Location, Location!
Be our V.I.P. guest at the Gala Opening of K. Hovnanian� at Paulus Hook, the premier Jersey City community! Don't miss this V.I.P. Opening beginning - by appointment only - on Saturday, May 21st.
Only a limited number of homes are being released at the VIP opening and purchase is by appointment only
Appointments will be set on a first-call, first-served basis
Purchase appointments will be held Saturday, May 21st
Call (201) 435-2320 today to reserve your spot! (Appointments will be arranged by phone ONLY. No appointments by e-mail.)
Only 1 contract taken per family per appointment. Limited number of homes available for investment purchases.
Just 68 luxury garden homes will be available at Paulus Hook, all offering 1 or 2 bedrooms and 1 or 2 baths in a building featuring elevator service, a fitness center and covered parking. Prices begin in the $400's.
Step up to a luxurious home in one of Jersey City's most exciting neighborhoods, featuring convenient commuting and exciting amenities including restaurants, cafes, retail shops, and nightlife!
Only Paulus Hook has so much to offer, including:
A choice location situated near Liberty State Park and the Hudson River - the center of the great New York/New Jersey metropolis.
Manhattan is just minutes away. Close to convenient PATH and Light Rail service, plus major roadways, airports and train service to everywhere.
Near the Meadowlands for championship sports, thoroughbred & harness racing as well as headliner concerts.
Convenient to shopping, hotels, dining and much more!
As one of our special V.I.P.'s, you'll be among the very first to preview this sensational community. Don't let this golden opportunity pass you by - luxurious garden homes along the Jersey City riverfront are in great demand, and we anticipate brisk sales when we open to the public. Make your private appointment today!
(2005-05-12 )
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Review - Some things you have to factor into the recent surge of property value in Jersey City that I dont think you can quantify by doing a year to year appreciation comparison, is the renewed desireability and improved community paulus hook is. Over the last 2 years we have seen new development after new development in an area that has a premier location to New York City. Because you didnt sense this community being on the verge of this 2 years ago doesnt mean it is too late to join in. The area has all the right metrics in place to see property value continue to appreciate considering a couple of important factors:
1. LOCATION, LOCATION, LOCATION - that is the rule of thumb in real estate and you just can't go wrong here.
2. Improved quality of living - try to remember what Paulus hook was like 5 years ago. The community of people, the types of condos/apartments available, restaurants etc. This is definitely improved considerably and it just so happen to be at a time when real estate in general has been strong.
3. LOCATION LOCATION LOCATION - There is a considerable amount of high income people that work in New York and can spend alot of money on a place that is close and convient to their jobs. Even if you make 100k a year I would not be surprised if you are Average in New York wages. So and average place to live and purchase just might not be paulus hook anymore.
(2005-05-12 )
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Review - I have seen there floor plans they are not worth $500 per sq feet ......... what is wrong with buyer's in todays date.
They just want to put any price for the house, whatever builders are asking and these builders just make money on those senseless people and have driven the market sky rocket. STOP IT NOW, you are not getting that much return when you sit to sell it. starting at $ 500 to $600 per sqaure feet INSANITY ( that's what i would call it )
Reviewed by - (2005-05-10 )
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Review - Very Strong interest thus far, about 2000 inquiries already for 68 homes
This is the best news I heard all day!!! I'm thinking the asking price for an average 1000sqft owner should be high $500s per sqft, maybe $575 to $590 per sqft. Top floor units with a good space should be $630 to $660 per sqft. Then add parking.
(2005-05-06 )
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Review - he said they havent been priced yet. And that the sizes range from 600 sq ft to 1500 sq ft, NOT $600 a sqft to $1500 a sqft. Prices havent reached that in Midtown and you think you would get that in Paulus hook?
(2005-05-05 )
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Review - Please read it more carefully next time: 1500 sq. ft. in size not $1500 per sq. ft..
(2005-05-05 )
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Review - That is size 1,500 sq. ft. not cost. Obviously everyone would sell if that was the case. Regardless, the site is not on the water as are some of the others it will be a few steps back and with only 4 floors will there be waterviews I doubt it. Will they charge for parking and have central air unlike only the top floors of Fulton's landing?
(2005-05-05 )
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Review - Pricing will range from $450 per square foot to over $600 per square foot, +/- $40k per parking space
No water views, but nice looking livable homes with high ceilings.
Very Strong interest thus far, about 2000 inquiries already for 68 homes
If you are going to get in on this I would be first in line as prices are sure to rise rapidly due to the level of interest.
Product or Service - 50/50 Customer Service - 50/50
Reviewed by - Insider (2005-05-05 )
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Review - Up to $1500.00 / sq ft? I don't believe that for a second. That would make a 1200 sq ft condo almost $2M! If they sell that high I am selling my condo (which is right next door) immediately.
(2005-05-04 )
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Review - I very interested in finding out the price range. If anyone finds out, can you please post it on this site. Thanks
(2005-04-27 )
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Review - I called khovanian today and they said they haven't been priced yet. They gave me May 21st as the date they will be available. They will range in size from 600 sqft to 1500 sqft.
(2005-04-19 )
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Review - Does anyone know when the prices for these units will be released?
Reviewed by - NR (2005-04-08 )
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Review - Any news on this yet?
(2005-04-08 )
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