Jersey City condos going for $325 a foot

Mercury Lofts — the latest phase in developer George Filopoulus’
Beacon project at 50 Baldwin Avenue between Montgomery Street and Mill
Road — is offering deals of $325 per square foot for half-floor units,
the Post reported. Initial plans for the 18-story Jersey City condo
called for 103 units in the Art Deco conversion building, but
Filopoulus later decided to turn the project into 25 colossal units
after the market went south. “Everyone will make money off this… except
me,” he said. Eight units have contracts out, and closings are set to
start in August. [Post]