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King Of The Block: Renovated Hackensack Home Sells For $70K Over Appraised Value
A fully renovated Hackensack home just sold for $70,000 over appraised value.
The 4-bedroom, 2.5-bath home at 431 W. Lookout Avenue hit the market on May 14 for $849,900, according to George Mikhael, the New Jersey realtor who represented the seller, a repeat investor client. Within a week, it was under contract for $920,000.
But the deal nearly fell apart.
“The appraisal came back at $850,000,” Mikhael said. “The buyer got nervous. The lender didn’t want to move forward. We asked for a second appraisal — still $850,000.”
With the deal on the line, Mikhael said he stepped in and went to w…
$29.5M Luxury Housing Project For 55+ Coming To North Jersey
A luxury housing project for adults 55 and over is coming to North Jersey — and it’s bringing firepits, BBQ grills, and a rooftop pool with it.
JLL Capital Markets on Thursday, July 10 announced $29.5 million in construction financing for Soho Park Residences, an 85-unit luxury rental development set to rise at 116 Harrison St. in Nutley.
The property, backed by Rock Solid Builders Inc., will include one- and two-bedroom apartments averaging 1,110 square feet. It will feature resort-style amenities including a clubhouse, library, sun deck with pool, firepits, BBQ stations, and a wellness ce…
$85M Sale Of North Jersey Luxury Apartments Finalized
A sprawling luxury apartment community in Morris Plains just sold for a whopping $85 million, officials with CBRE announced on Friday, July 11.
The buyer, whose name has not been released, purchased Signature Place, a 197-unit Class A complex featuring high-end finishes and resort-style amenities, from Veris Residential, a New Jersey-based real estate investment trust.
Built in 2018, Signature Place offers apartments averaging more than 1,000 square feet and is loaded with perks: a pool, yoga studio, golf simulator, movie theater, conference rooms, pet spa, and a clubroom with game tables a…
New Jersey Home Listed For $1 — Yes, That's Right
A Newark home can be yours, as long as you have a dollar to spare.
The house at 28 Reynolds Pl. has been listed for $1. And while you probably can't own the home for a simple George Washington, it's created quite a stir on the real estate market.
Brendan DaSilva, who listed the 3-bedroom, 2-bathroom home, said he has seen homes suffer from being overpriced, but never saw a listing suffer from being undervalued.
"The market dictates value, regardless of the listing," DaSilva, who has sold nearly 1,000 homes, 400 in Newark alone, said.
Since the $1 listing went up, DaSilva said he receives …
