Home News Hoboken Townhouse Sells $1M Below Ask

Hoboken Townhouse Sells $1M Below Ask

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614 Hudson Street in Hoboken (photo by Brown Harris Stevens)

The Hoboken townhouse rides on to destinations that have recently cooled off last year’s housing market heat, eventually settling for second place in the area record, $1 million below its original asking price.

one’s home 614 Hudson Street was listed first Late last year before claiming its place among Hoboken’s highest-grossing after a townhouse that sold for $6.5 million in 2016… anywhere.

614 Hudson Street in Hoboken (photo by Brown Harris Stevens)

614 Hudson Street in Hoboken (photo by Brown Harris Stevens)

This house was built in 1897. Buyers Matt and Diana Thomas work as day traders and recruiters, respectively.

They listed a property with 11 rooms $7 million last November, landed on the market as low inventories, high prices, and bidding wars set national records. However, Peter Kosio of Brown Harris Stevens, who had the list, said the price was incorrect.

“The asking price was a little bullish when we put it on the listing,” Kosio said of the home. won headlines in the New York Post to achieve a record.

614 Hudson Street in Hoboken (photo by Brown Harris Stevens)

614 Hudson Street in Hoboken (photo by Brown Harris Stevens)

Cossio said sellers refused to lower prices when the market was active, allowing buyers to get better deals than usual when activity cooled in the summer.

The seller is “satisfied with the sale of the house,” said the broker, but feels a loss of $1 million.

“I don’t think they’re happy with 5.9, to be honest,” Cossio said.

This year, records have become familiar territory for Hoboken. A penthouse was sold for his $4.2 million in cash, claiming a record for most expensive condo in the process. In the first half of 2022, the city will largest share of Hudson County’s top deals.

However, the remainder of 2022 remains challenging for sellers. So the Thomases aren’t the only ones having to adjust their expectations.

Mortgage rates have doubled in recent months from last year’s record lows. evict a homebuyer of market. After hovering around 3% from the end of last year to the beginning of 2022, exceeded 6% in June Before we go back to the month with a little tick 6.7 percentthe highest since July 2007.

Inflated borrowing costs side by side with prospective sellers and buyers alike In northern New Jersey, a local broker told Northjersey.com. According to data from the NJ Real Estate Association, New listings and closed deals Hudson County townhouses and condos fell about 20% year-over-year in August.

Along with Cossio, the Hudson Realty Group team represented the seller. BHS also acted on behalf of the purchaser.

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