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Thread: Hudson Lights - Fort Lee - New Jersey

  1. #31
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    Wow. A big change from the last time I was in Fort Lee 5 years back. Will check it out this summer when I'm there.

  2. #32

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    Quote Originally Posted by Ed007Toronto View Post
    Wow. A big change from the last time I was in Fort Lee 5 years back. Will check it out this summer when I'm there.
    There is a second 50 floor building about to rise in Fort Lee, as well as a separate development consisting of more 10-25 floor buildings surrounding a major outdoor urban retail center.

  3. #33
    Forum Veteran West Hudson's Avatar
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    Does anyone know if anything has broken ground since the first tower at The Modern in Fort Lee? Two years into leasing at Twenty50, 2 free months' rent is still being offered, and the same is being offered one year into leasing at the Modern. Seems like an oversupply.

  4. #34

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    Quote Originally Posted by West Hudson View Post
    Does anyone know if anything has broken ground since the first tower at The Modern in Fort Lee? Two years into leasing at Twenty50, 2 free months' rent is still being offered, and the same is being offered one year into leasing at the Modern. Seems like an oversupply.
    One month free (which actually isn't one month free, it's a 13 month lease, and basically a gimmick) is standard in new developments everywhere. It's the norm, and not indicative of an oversupply.

    There has been so little new rental construction over the last few decades relative to demand, that there would have to be just massive rental construction to cause a regional oversupply.

  5. #35
    Forum Veteran West Hudson's Avatar
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    Quote Originally Posted by ASchwarz View Post
    One month free (which actually isn't one month free, it's a 13 month lease, and basically a gimmick) is standard in new developments everywhere. It's the norm, and not indicative of an oversupply.

    There has been so little new rental construction over the last few decades relative to demand, that there would have to be just massive rental construction to cause a regional oversupply.
    Why do you keep trying to debate things on this board when you don't know any of the basic facts? lol

    First of all, the new buildings in Fort Lee are offering TWO (not just one) months of free rent. Back in 2013 when supply was tight, buildings in the region were offering zero free months of rent.

    Second, it's normal to offer 3 months of free rent in some new buildings; it's NOT normal to offer two months' free rent for up to two years after a building opens, which is what we're seeing in these new buildings in Fort Lee. This suggests that either the buildings have unacceptably high vacancy or unacceptably high turnover, or both.

  6. #36

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    When is the 2nd tower starting construction? Or has it already?

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  9. #39

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    Quote Originally Posted by West Hudson View Post
    Why do you keep trying to debate things on this board when you don't know any of the basic facts? lol

    First of all, the new buildings in Fort Lee are offering TWO (not just one) months of free rent. Back in 2013 when supply was tight, buildings in the region were offering zero free months of rent.

    Second, it's normal to offer 3 months of free rent in some new buildings; it's NOT normal to offer two months' free rent for up to two years after a building opens, which is what we're seeing in these new buildings in Fort Lee. This suggests that either the buildings have unacceptably high vacancy or unacceptably high turnover, or both.
    LOL at this post.

    I think you just like to argue as 1. Nothing you wrote contradicts what I wrote and 2. Nothing you wrote has anything to do with supporting your constant theme on WNY, which is that developers and consumers are all idiots, the Census Bureau is lying about record low regional vacancy rates, and only you know the rental market in the NYC area.

    And as yet another 50 floor tower rises in Fort Lee, do we believe the developers, the market and the Census Bureau, or do we believe a random poster who insists reality is a farce?

  10. #40

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    You are responding to something written more than 7 months ago.

  11. #41

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    Quote Originally Posted by ASchwarz View Post
    LOL at this post.

    I think you just like to argue as 1. Nothing you wrote contradicts what I wrote and 2. Nothing you wrote has anything to do with supporting your constant theme on WNY, which is that developers and consumers are all idiots, the Census Bureau is lying about record low regional vacancy rates, and only you know the rental market in the NYC area.

    And as yet another 50 floor tower rises in Fort Lee, do we believe the developers, the market and the Census Bureau, or do we believe a random poster who insists reality is a farce?
    They aren't building the 2nd second tower for shits and gigs--- obviously the 1st has made enough money to justify the 2nd

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