Bubble Wrap

Up Against the Wall

The NY Post reports on the state of the Jersey City condo market as sales have slowed significantly and developers have increased their incentives, such as free parking, covered transfer taxes, and closing costs.

But there are signs of hope in Jersey City. Near the Grove Street PATH station is Ivy House, a boutique condo building from Fields Development Group and TreeTop Development, which has sold 15 of its 18 units since going on sale at the beginning of July. With prices around $500 per square foot, the units are aimed at entry-level buyers, a demographic, says Fields principal James Caulfield, that’s been under-served by new construction.