Real Estate Weekly News

This week’s Interest Rate 30 Y Rate: 3.625%/  15 Year Rate:3.250%/ 10 Y Treasury: 1.552%/  Prime Rate:5.25% Ref IR: 2.00- 2.25%   Palisades Park residents are questioning on major school renovation project (The Korean  Daily  8/20) Palisades Park residents are anticipating announcement of additional $60M budget for school renovation and it’s itemized detail and tax increase, but it is not...

This week’s Interest Rate - 30 Y Rate: 3.625%/  15 Year Rate:3.250%/ 10 Y Treasury: 1.702%/  Prime Rate:5.25% Ref IR: 2.00- 2.25%   Drunken youth came out of Palisades Park NoRaeBang assaulted a passenger (The Korea Times  8/10) On 8/5, 13 drunken youths came out of NoRaeBang in Palisades Park attacked a street passenger.  It is known that NoRaeBang is run by Mr.M who is one of town...

This week’s Interest Rate      30 Y Rate: 3.500%/  15 Year Rate:3.150%/ 10 Y Treasury: 1.716%/  Prime Rate:5.25% Ref IR: 2.00- 2.25%   “Daiso” Japan opened its super store in Edgewater, NJ (The Korea Daily  8/6) Daiso store(7000sf) location is next door to Mitsuwa Market Place in Edgewater: 595 River Rd, Edgewater, NJ. 1st store opened at Skyview Center in Queens, NY  on March...

This week’s Interest Rate      30 Y Rate: 3.750%/  15 Year Rate: 3.250%/ 10 Y Treasury: 2.065%/  Prime Rate: 5.5%   Mayor of Palisades Park, NJ requested suspension of police chief to town council (The Korea Times  7/30, The Record 7/31) It is found by outside consultant Hillard Heintze that there is no written policy for hiring, promotion, punishment, etc. and, therefore, police force...

This week’s Interest Rate      30 Y Rate: 3.750%/  15 Year Rate:3.250%/ 10 Y Treasury: 2.065%/  Prime Rate:5.5%   Lotte Market will be open in Edison on 7/26/2019.          (The Korea Daily 7/22) 50,000 sf Supermarket, “Lotte Plaza Market” (Chairman: SeungGil Lee, President: SangMin Lee) will be in Edison, NJ, opening on 7/26/2019. The store is aiming at high-end store with...

This week’s Interest Rate      30 Y Rate: 3.875%/  15 Year Rate:3.375%/ 10 Y Treasury: 2.106%/  Prime Rate:5.5%   Gap in Ridgewood, NJ will close down on 7/27/2019 (The Record  7/17) Gap on East Ridgewood Ave will sale for all items by 50-70% and even fixtures by 50%.  The company announced the plan of splitting up Old Navy from the remaining brands -Gap, Athleta, Banana Republic,...

This week’s Interest Rate      30 Y Rate: 3.750%/  15 Year Rate:3.250%/ 10 Y Treasury: 2.061%/  Prime Rate:5.5%   Town hall meeting with mayor in Palisades Park held on 7/9 for Korean commerce      (The Korea Times  7/10) At 10:00am, about 20 Korean had participated and debated openly and fervently.  The town is well known as K-Town, but some say recently it is facing downwards...

This week’s Interest Rate      30 Y Rate: 3.750%/  15 Year Rate:3.250%/ 10 Y Treasury: 1.976%/  Prime Rate:5.5%   800 ft office space above Macy’s building in Manhattan will be constructed (The Korea Daily  7/3) Macy’s building in Harold Square is 10 story building currently and they have a plan to build up 800 ft office space on top of the building, according to NYT.  Macy’s...

This week’s Interest Rate      30 Y Rate: 3.750%/  15 Year Rate:3.250%/ 10 Y Treasury: 1.988%/  Prime Rate:5.5%   ADM(American Dream Meadowland) will bring Coke as a partner (The Record  6/26) American Dream and Coke announced partnership: ten year deal includes an 800-person dinning center, social media storefront, green rooms, and more events to the Meadowlands.  The 3 million sf...

This week’s Interest Rate      30 Y Rate: 3.875%/  15 Year Rate:3.375%/ 10 Y Treasury: 2.058%/  Prime Rate:5.5%   A house in Ridgefield burn down completely due to explosion by gas (The Korea Times  6/18) A House at 360 Abbot Ave. Ridgefield was burn down at around 11:30am on 6/17/2019.  Gas leaking ignited fire and explosion and resulted in complete burn down the house including...