Jersey City feels Wall Street pain

October 30, 2008 10:06AM

Since troubles hit Wall Street, condo sales have been suffering in Jersey City, which is home to around 24,000 financial sector employees. Metro Homes’ 440-unit Trump Plaza Jersey City, for example, has begun offering concessions to potential buyers, including six months of free parking, and the project has halted plans for a second, 417-unit tower. K. Hovnanian’s 420-unit 77 Hudson, one of the area’s priciest buildings at $850 per square foot, is only 30 percent sold since launching sales in July 2007.

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