The Real Deal New York

Crystal Point condo sets Downtown JC per sf record

At $1,356 per sf, two-bedroom pad surpasses 2013 sale at 77 Hudson
By Mark Maurer | July 20, 2015 05:45PM

UPDATED, 10:00 a.m., July 21: Manhattan prices have fully arrived in Downtown Jersey City’s booming condominium market.

A two-bedroom condominium unit at the Fisher Organization’s 42-story tower Crystal Point has just set the price-per-square-foot record in Downtown Jersey City, The Real Deal has learned.

Sold last week in a resale for $1.86 million, the 1,371-square-foot pad averages a whopping $1,356 per square foot, according to Metropolitan’s Waterfront Residential Brokerage’s Sujay Shah, who represented the buyer.

The sale bests a $2.8 million two-bedroom penthouse condo sale at Hovnanian Enterprise’s 77 Hudson. That condo, still the priciest overall apartment sale in Jersey City, tallied $1,333 per square foot when it sold in 2013. Shah was a broker on both deals.

Shah touted the location as the major selling point for his client’s buy at Crystal Point, which opened in 2008.

“The condo is located right on the waterfront and nothing can block the view,” Shah said.

Lorna Chen of the Chen Agency had the listing.

Kushner Real Estate Group and Ironstate Development last year opened an 11-story, 422-unit rental building in the neighborhood, at 18 Park Avenue. Meanwhile, a diverse array of office tenants are moving across the river to Downtown Jersey City and Newport.