Real Estate Weekly News

1. A penthouse condo in Manhattan, NY sold at $60 Million → Highest price this year  432 Park Ave. between 56th St and 57th St:  2 units at 91th floor Each unit listed at $40 Million (91A, 91B) → finally sold 2 unit together at $60,083,577 Together 8000 sf. Each unit includes 3 Bedrooms, 3.5 Bathrooms Monthly maintenance fee: $32,119.00 / 1396 Feet Last year December, 3 units together...

1. New Jersey’s First Private medical school in 50 years will open this summer??  Seton Hall University and Hackensack Meridian Health are keeping pushing their plan to open this summer. The school (The Seton Hall-Hackensack Meridian School of Medicine) will be on former Hoffman-La Roche campus in Nutley and Clifton If accredited, they will accept 50 students first year, and grow into up to 500...

1. Poonglim Restaurant, Fort Lee, NJ closed down  Owner Ms. Ha filed bankruptcy Chapter 7 on 18th She owns Poonglim and Catering Business Debtor includes Bank of Hope, Flushing Bank, Noah Bank, New Millennium Bank and a few individuals Creditor meeting will be held on 2/13/2018 2. Leonia, NJ, non-resident vehicle prohibited during rush hours from 1/22/2018   On about 60 local roads, between...

1. Christopher Chung (Democratic) will run for Palisades Park, NJ Mayor  On the council since 2004 and intention to file June primary Current Mayor James Rotundo (55, Since 2004) has not decided to rum primary → Would be last term till 2022 Chung (A father of two) works as a property manager → Time to run: More than a half are Korean heritage among 19,622 population according to 2010 Census...

1. Korean owned building between Northern Blvd purchased by Chinese developer  146-17 Northern Blvd / Closing is completed at $9.7 Million Tenants: 'Tong Tong Don Gass' / Cumon school Developer will build 5 story mixed building for retail and condo → Condo development expanded to Northern Blvd commercial area from Downtown area 2. Manhattan NY Rent tipped off  According to Zumper, 1 Bedroom...

1. Another New Apartment in Palisades Park, NJ?  Zoning board approved apartment development between Edsall Blvd and 14th St (Adjacent area for Palisades Park and Fort Lee) 14 stories / 121 units (Original plan: 17 stories, 154 units) There was a concern about Flood area → Approved based on the fact that it is 50 FT apart from 'Long Swamp' area 2. Manhattan, East Harlem is economically...

1. First Korean Policewoman in Fort Lee, NJ  Alice Jee (23) pledged as Fort Lee police as of 12/14/2017, grew up in Fort Lee, attending Elementary, Middle, High school in Fort Lee Graduated from Montclair University, major in Criminal Phycology She will serve as policewoman after 6 months in Police Academy from Jan, 2018 2. New Tunnel project under Hudson River → Green light NY / NJ states...

1. Leonia town decided to block non-resident’s cars to get in the town →Issue  Town decision: block non-resident’s car during commuting hours → fine for $200 For 60 roads in town during 6:00am-9:00am and 4:00pm ~ 9:00pm from 1/15/2018 US Automobile Association, NJ chapter says this decision violates driver’s right for public roads ↔ Town officials says about 15,000 cars merges into...

1. PATH will be extended to Newark Airport ? NY, NJ Port Authority reviews a proposal: PATH extension to Newark Airport Extension from Newark Pen Station to Airport: Total 2.4 miles Port Authority allocated $1.7 Billion to this extension project out of $32 Billion of 10 year capital plan Also Port Authority allocated $15 Million to this project out of 2018 budget →  Will complete in 2026 2....

1. New Rental Complex in Cliffside Park, NJ starts moving-in  'The Centre Luxury Living' at 705 Anderson Ave, Cliffside Park Lobby height → 3 story. Manhattan sky line view Studio (564~600 SF): starts from $2,025 / 1BR (834~875 SF) starts from $2,800 / 2BR (1194~1338 SF): starts from $3,200 Remote temperature control (Heating & Cooling) / Caesar Stone Counter top / Laundry units and Drying...