Bayonne New Jersey Real Estate
When Jason Tsay and Michael Suchocki left the swanky Chelsea for sleepy Bayonne, they thought the city of New Jersey was on the cusp of a real estate renaissance. The couple moved in 2004, but only now are they gearing up for a game - the change of scenery. JMF Properties will this year break ground on a project that will include more than 1,000 square meters of office, retail and residential space. After years of stagnation in development plans, it plans to add another 1.5 hectares of residential and office space in the next few years.
Atlantic Realty is also to build 525 garden apartments that the city plans to connect to the 34th Street light rail station via a pedestrian bridge over Route 440. Bayonne is in talks with the Port Authority to build a new ferry terminal at the foot of the Hudson River, and at the end of February it agreed to conduct an impact assessment to determine demand for the pier. The New York Metropolitan Transportation Authority has pledged $4 million for the feasibility study that will connect the new terminal to a ferry terminal at the New Jersey Turnpike and a light rail station.
To fill the new cushions, Bayonne is banking on the same factors that prompted Tsay and Suchocki to launch their first-ever real estate venture in New Jersey this year: the city's economic growth and its proximity to New York.
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Third, we show the median value of each house, broken down by the median year in which it was built, and show the household size and tenants. Bayonne is only slightly larger in terms of the number of family members per unit of housing, compared to the US average of 3.3, but has a higher proportion of single-family homes than New Jersey as a whole.
The residential complex in Bayonne was built in the mid-1990s, which makes it possible to find different age groups of houses in it, and it can be useful to understand the relative age of a neighborhood as a real estate investor. In terms of the median year in which homeowners moved into their homes, it ranks first in New Jersey, with the highest median age for single-family homes. It has the second highest percentage of renters who moved from 1990 to 1999, compared to the U.S. average of 2.5%, but the lowest percentage of renters from 2000 to 2010.
Bayonne has a house size of 2.5, which is the smallest measured size, while other towns in the city are measured by the household size of the tenant. East Newark, represented as a 3.0-5 tenant apartment size, is one of the most diverse neighborhoods in New Jersey and the largest in terms of tenant households. It shows the difference in the number of people moving to the region each year, as evidenced by the percentage of owners - occupied units and tenants who lived in them. Bayonne also had a relatively small number (0.2%) of rental apartments, while East New Brunswick, East Jersey's largest borough, was larger because tenants moved to the area every year. The difference between the number of homeowners and the number of tenants in a single-family home is presented as the ratio of owners to tenants, based on the number of rental apartments to the owners, not the proportion of ownership units.