Albert Ngai of The Ngai Group at Weichert Realtors recently celebrated the record sales of two brand-new condominiums at 2 Elizabeth Street, Jersey City.
According to the Hudson County MLS, this was a record sale for condominiums in the Journal Square neighborhood. Unit 2 set the initial record in September 2023 when it sold for $1,380,000; however, that record was soon eclipsed by Unit 1, which sold for $1,525,000 in October 2023.
Built by Pintak Development LLC in a joint venture with NY Urban, the two luxury condominiums included private outdoor spaces and one garage parking space for each unit. Albert’s team assisted the developer in acquiring the property, and Albert drew upon his track record of record-breaking sales – and rentals – to ensure a successful sale. Albert was Weichert’s #1 agent in 2023, in terms of sales volume, for Hudson County.
Albert specializes in the luxury real estate market, particularly on the Gold Coast waterfront, and utilizes his expertise to attract prospective buyers. He provides luxury staging services for many of his clients, and personally stages the properties with his private collection of staging furniture and décor. This personalized service helps manage costs for his clients and frees up resources to market the homes via other methods.
Positioned in the exclusive Hilltop section of Jersey City, these brand-new condominiums featured sleek design, spacious layouts, and numerous contemporary comforts. The location of the homes provided residents with easy access to the Journal Square PATH and other local amenities, such as dining, retail, and entertainment options.
Unit 1 encompassed 2,807 square-feet of living space across floors 1 and 2, plus a private backyard with gas grill and fire pit. The condominium contained three bedrooms and two-and-a-half bathrooms, plus a bonus room on the lower level.
Unit 2 encompassed 2,154 square-feet of living space on floor 3, and included a private roof deck with gas grill, fire pit, and stunning NYC views. The residence contained three bedrooms and two bathrooms.
When asked about the significance of the sales, Albert said, “This was a very difficult sale because there were no comparable properties that sold in Journal Square (and even Jersey City Heights) that could justify the price. The first sale of this kind is always the most difficult, the next “similar” property will be easier now that this sale has been established and can be used as a comparable for future sales.”
Albert believes the sale of these condominiums demonstrate there is an eager market for ultra-luxury properties in areas outside of the Downtown Jersey City and Hoboken. For buyers searching for their new Jersey City home, he has multiple sale listings coming to market soon, which include condominiums, single family homes and multi-family homes.
For more information on how Albert and his team can help you sell your property or to register interest for any of his upcoming listings, please contact Albert Ngai of The Ngai Group at Weichert Realtors at [email protected] or 917-518-1588.
