A modern and upscale housing stock, energetic and trendy local scene and easy access to Manhattan have all combined to place Jersey City atop the list of most desirable Hudson River waterfront communities for today’s renting public.
Fueling the meteoric rise of this New Jersey Gold Coast city has been a growing movement to escape the aging apartment inventory and high rental prices of mainstay waterfront markets such as Hoboken and head to Jersey City where brand new luxury buildings feature apartments with more space, better amenities, and attractive pricing.
Nowhere is this trend more evident than at Soho Lofts, a collection of 377 upscale apartments in Jersey City’s SoHo West Community, an industrial-inspired neighborhood of loft-style homes, amenities and services being developed by Manhattan Building Company on the Hoboken border. Over 75% of the rental homes at Soho Lofts have been leased, with more than 30% of its residents moving from areas such as Hoboken, Weehawken, Bayonne and North Bergen.
Lauren Stallone, a young professional who had been living with her boyfriend in uptown Hoboken, typifies the migration to affordable rental luxury at Soho Lofts.
“I was living in an older walk-up apartment on Hoboken’s Washington Street,” Ms. Stallone says. “The home was in need of serious repair and lacked any sort of convenience. There was no washer/dryer, no central air and no dishwasher. It was a small unit with only 550 square-feet of space. We were paying a fortune for practically nothing and it was time for a move.” Continue reading