Recent comments in /f/jerseycity

Lestic t1_j6d1yls wrote

I am not sure about New Jersey, but where I am from you have the right to see the HOA books which are audited yearly when you are going to put in an offer. I would inquire about those because there seems to be serious shortfalls in the monthly fee for having constant assessments or the place just isn't built well.

I know some buildings will keep the fees low to make the place look attractive and then things fall apart and lead to the 10s of thousands of dollars to repair.

For reference my place in Ontario Canada has a $605 HOA fee per month with more than $1.3 million in the bank for operations and to cover repairs suggested by engineers who audit the structure every few years. My wife and I spent a lot of time investigating the buildings we were considering purchasing because a lot of things are outside of your control.

2

jlichyen t1_j6caniu wrote

Setting aside "urban development" and "growth", there's lots of ways to design a street intersection -- for example, pedestrian bulbs at the corner so cars can't park in the crosswalk -- so that cyclists and drivers can see who is coming from the other directions with more than enough distance to stop in time. Hoboken has many intersections with these improvements.

If these had been done, both the cyclist and the driver would have been more likely to see the other, and stop sooner (possibly).

4

AWarTimeConsigliere t1_j6bn08u wrote

Reply to comment by PrincipleOfMoments in Port Liberte by sunnysmileyleo

This is correct. Live here now in Condo 1. There was a $30K assessment for repairs that most sellers are currently taking off purchase prices of their homes, but there will be additional assessments in the future as the $30K will be nowhere near enough.

Also, as mentioned elsewhere, there are monthly COA & HOA fees that total about $2K-$2500k per month on top of your mortgage/taxes.

In Condo 1, there are major leaking issues that are supposedly coming from the way the balconies were built. I live on the 7th (top) floor in a 2 floor condo and the leaking is occurring on the downstairs (6th) floor in the bedrooms anytime there is a significant rainstorm.

There is also a know rodent problem here that we seem to deal with every winter, and there has been significant mismanagement by the management company for a lot of issues.

2

MarieSkiis t1_j6bmwzh wrote

Reply to comment by PrincipleOfMoments in Port Liberte by sunnysmileyleo

It’s for one of the larger townhomes there. I didn’t personally review this person’s claim but based on another assessment for a property that I own, I can completely understand this number for plumbing replacement of the property. The figure that I heard for phase 1 of plumbing was $5m. Again, I don’t own there or attend the board meetings but I have no reason to doubt the validity of this info.

0