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Incnetive package the builder is offering according to NYT:

In Hoboken, a developer of 76 one- and two-bedroom condominiums on Adams Street is seeking to snare buyers with a fat package of incentives, including a chance to win a paid two-year lease on a BMW, a down payment capped at $2,500, fully paid closing costs and no common charges for a year

thats old news. the car deal was for 1 of the 5 first buyers. not only that 700 grove is offering much more incentives,like 4 years monthlys. as much as i like these units. the taxes are a killer,even after the abaitment. and at $500 sqf,its pretty pricey in this market.

that said, anyone know how negotiable they are? I would buy if there was a good drop in price

Got this email today

End of the Year Incentives

2 Years of Free Maintenance (If fee is $375/mo = $9,000 value)
Up to $9,000 in Closing Costs will be Covered
Priced from $430 to $515 per SqFt All upgrades are included in every sale. One garage parking space is included in every sale.

Prices seem to be falling too.

Anyone know roughly what the taxes are?

tax abated at 1.1%

Quote:

That's what 1200 and 1300 thought too but it was a lie.... check with city hall the abatement is minimal....

it aint a great rate,its listed as 7k for a 2bedroom going for 560k. thats a big kick in the ass

the abatement, while not as good as originally promoted (this is still being fought), is better than "minimal" as you put it.. market rate taxes on a $560K unit are almost $9,000. I guess you don't think almost $2,000 is meaningful, but its a savings of ~28%, not to mention you have the comfort of knowing it won't be going up for some time.

I can do a one bedroom for $400 a sq ft, if you have one let me know.

good luck with that