How rival states stack up

Jun.June 01, 2015 07:00 AM

NY-vs.-NJ

certain subset of New Yorkers (read: hipsters with growing families) likes to think they recently “discovered” New Jersey. While this is clearly a myopic — and maybe even an antagonistic — perspective, there’s truth to the idea that Northern New Jersey is having its moment in the sun, and that some of that is due to New Yorkers, tired of their tiny but expensive homes, immigrating to the Gold Coast.

But it is not love at first sight: New York and New Jersey have long enjoyed a rivalry of epic proportions. Here’s The Real Deal’s take on how the states stack up.

$150 vs. $271

The average hotel price paid in Atlantic City compared to New York City, from a survey of the top 50 most popular domestic destinations in 2014 visited by U.S. travelers.

9,000 vs. 6,500

The approximate number of residential units currently being built along New Jersey’s Gold Coast compared to the number of new condo units expected to open for sale below
96th Street in Manhattan in 2015.

$49 million vs. $150 million

The priciest listing in New Jersey, which belongs to a 30,000-square-foot, four-level stone mansion at 18 Frick Drive in Alpine — one of the country’s most expensive zip codes – compared to the priciest listing in New York City, a triplex penthouse at the Chetrit Group’s 550 Madison Avenue.

(Click to enlarge)

(Click to enlarge)

$323,400 vs. $710,000

The median value for a home in Essex County in 2015 compared to the median price of a one-bedroom apartment in Manhattan.
The median value for a home in Bergen County is $414,500.

$2.1 billion vs. $600 million

The amount New Jersey committed to corporate subsidy programs in 2014, compared to the sum spent by New York City since 2010 for similar purposes.

130 miles vs. 127 miles

New Jersey’s coastline, where a visit is called “down the shore,” compared to New York’s coast, where the same phrase causes confusion.

2,497 vs. 13,375

The number of brokers in Hudson County, compared to the number of brokers
in Manhattan in 2014.

Mets, “The Godfather,” Bruce Springsteen vs. Mets, muscle cars, Jon Bon Jovi

New Jersey Governor Chris Christie’s favorite sports team, movie and musical artist pitted against New York Governor Andrew Cuomo’s top picks for entertainment.


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