2018

1. Edgewater rent is highest in Bergen county, NJ  Based on ACS data between 2012 – 2016 of town of which Renter ratio is over 60%. Edgewater Median Rent:$2174 (68.7%)→#1 Hoboken: $2001 (61.9%)→#2 Palisades Park: $1401 (67.4%)→#5 East Rutherford:$1386 (62.3%)→#6, Weehawken:$1382 (66.6%)→#7 Hackensack:$1318 (64.7%). New Jersey median rent: $1213→#5 in US 2. Korean Massage worker...

1. Trulia reported Top 10 in New York area for highest house price increase #1: Brooklyn Bushwick (90th in 2018←189th in 2008): Median price→$788,700 Queens Ridgewood (99th: $737,100←194th), Jackson Height (147th: $548,000←236th), Elmhurst (146th: $550,300←232nd), Corona (159th: $530,200←237th), Pomonok (128th: $600,300←202nd) According to New York University professor Mitchell Moss,...

1. PP Mayor Rotundo accepts defeat without challenge of the eight-vote victory by Chung  Chung got 1113 votes and Rotundo got 1105 votes in this primary Rotundo is looking toward to the future: he was reelected to the post of municipal chairman by the Palisades Park Democratic Committee Online attack by Rotundo’s mother against the town’s large Korean community went viral → Tension between...

1. In Palisades Park, NJ, Mayor candidate for Democratic party becomes C Chung  Current Mayor James Rotundo defeated by 8 votes for his 5th term He cancelled Press Interview on 12th (He might ask re-count, but circumstances are not positive including his mother’s discriminatory remarks on SNS) The candidate C Chung received a congrats msg from the Governor Phil Murphy 2. New Condo Construction...

1. ADM (American Dream Meadowlands) is ready for a boom  Expecting tourism boost → Big money for area business Hotels are repositioning to benefit from that boom, starting with Taylor Swift in concert this summer / WWE Wrestle mania XXXV in April, 2019 / Transplant Games in 2020 / The Army-Navy football game in 2021 Example: Super Bowl in 2014 →  8,500 rooms are occupied / $4.18 Million...

1. Korean population increased in Northern NJ Towns with denser Korean population increased Korean population continually since 2010 Palisades Park: Estimated to 20,988 (0.8% Up compared to 2016, 7% Up from 2010) Fort Lee: Estimated to 37,907 (7.1% Up from 2010) Ridgefield: Estimated to 11,435 (3.7% from 2010) Leonia: Estimated to 9,262 (3.6% Up from 2010) Edgewater: Estimated to 12,368 (7.4%...

1. Palisades Park Administrator, Lorenzo might be involved with embezzlement  Jesse Wolosky (Sparta resident, Civil activities) reviewed reimbursement doc released from Palisades Park town according to OPRA $67,783 reimbursement for legal fee paid to Lorenzo on 12/20/2017 Wolosky pointed 1. Request twice for the same item 2. Two law firms request payment for the same case Lorenzo denied as false...

1. KMS Capital purchased 'River Drive Center II' in Elmwood Park, NJ  Korean RE investment company KMS Capital → CEO: Monica Kang Purchased 669 River Drive, Elmwood Park, NJ at $8.1 Million (4 story / 83,620 SF) Very well maintained office building → High valued building → Will be managed by Accordia Realty Ventures) Monica Kang mentioned the value in this high-end office building is the...

1. Palisades Park Public High School Security Guard project might be halt Town selected 9 guards by Henry Lou’s (Council member) personal contact, but no objective data to prove their fitness and qualification Among 9 guards selected, Mayor Rotundo’s cousin and Henry Lou’s brother included 'Nepotism' should not be allowed, according to Mr. Woo (Education Committee member) Tow general Admin...

1. NJ 'Jersey City' is becoming popular as alternative of Manhattan  According to CNBC, Housing price is moving up sharply in Jersey City because M Gen prefers to Jersey City over Manhattan The price in Jersey City is about half of Manhattan price Average Price in Jersey City is $391,000 (Average Rent: $1500) Median Price in Manhattan is $1.3 Million (Median Rent: $3400) 2. Palisades Park, NJ,...