Navigating the COVID-19 Market

I’m surprised to be writing this post – in all honesty, I fully expected the market to grind to a screeching halt during the COVID-19 pandemic; however, it’s been business as usual – if not busier than usual.  Just this week my listing at 1030 Hudson #6 went under contract with multiple offers after less than 2 weeks on the market, and I listed a large 3-family at 505 Bloomfield St. While the suburbs are hot right now, Hoboken and Downtown Jersey City seem to be holding their own with buyers from Manhattan and Brooklyn seeking to escape to the inner “burbs”, being Hoboken and Downtown JC. Interest rates remain at historic lows which is holding the market up.  While the market is brisk, I’m getting initial signs that buyers are more actively demanding a COVID discount.  It’s perhaps the most balanced market in Hoboken and Jersey City in a decade, there’s a limited supply of updated / modern inventory, but poor economic indicators are balancing the lack of good inventory.

There continues to be a fantastic arbitrage opportunity for dated condos, single family, and multi-family units, with good bones and outdated finishes.  If you’re willing to do the work, there are still relatively easy flips out there with 50%+ levered IRR’s.  With the equities market seemingly stalled in the doldrums of a pandemic with more downside risk than upside potential, and quality bonds pegged at or below the rate of inflation, these opportunities remain one of the few high-certainty, high-yield investments available.  For a detailed investment analysis of the most compelling opportunities in Hudson county, contact me at – you’ll be glad you did!