Jersey City Waterfront Condos Maintenance Fees & Taxes

Currently there are three major downtown Jersey City waterfront high-rise condos which are currently being sold as new construction. They are 77 Hudson, Crystal Point, and Trump Plaza Residences. I find that many buyers who look at one of these buildings usually has interest in seeing the others. Commons questions that I hear are regarding the taxes and the maintenance fees for each of these buildings.

77 Hudson Condos in Jersey City

77 Hudson Condominiums Jersey City NJ

77 Hudson is a high-rise new construction condominium project developed by K. Hovnanian in the Paulus Hook/Exchange Place section of downtown Jersey City.

  • The monthly maintenance fees for 77 Hudson break down to about $0.71 cents per square foot. This includes heat, hot water, water, gas, common insurance, as well as all of 77 Hudson’s common amenities like 24 concierge, outdoor pool, fitness center and resident’s lounge.
  • 77 Hudson has a 20 year tax abatement. Taxes will be based upon the purchase price of each unit and assessed by the City of Jersey City. The estimate for the annual taxes is approximately 1.65% to 1.7% of the sales price.

Trump Plaza Residences in Jersey City

Trump Plaza Condos in Jersey City NJ

Trump Plaza Residences is a 55 story high-rise new construction condominium building located at 88 Morgan St. in Jersey City. It was developed by Metro Homes LLC and is located in the Exchange Place section of downtown Jersey City.

  • The monthly maintenance fees for Trump Plaza are currently $0.71 cents per square foot which includes water, common insurance, basic cable/internet, and all of Trump Plaza’s common amenities like 24 hour doorman, concierge, fitness center, resident’s lounge, outdoor pool, game room, and indoor Roman spa.
  • Trump Plaza has a 20 year tax abatement. Taxes will be based upon the purchase price of each unit and assessed by the City of Jersey City. The estimate for the annual taxes is approximately 1.65% to 1.7% of the sales price.

Crystal Point Condos in Jersey City

Crystal Point Condos Jersey City NJ

Crystal Point is the only downtown Jersey City condo building that literally sits on the banks of the Hudson River, 25 feet from the water’s edge. It was developed by Fisher Development Associates and is located at 2 2nd St. near Exchange Place in downtown Jersey City.

  • The monthly maintenance fees for Crystal Point are currently $0.57 cents per square foot. This includes water, hot water, gas, valet parking for 1 car. Also included are Crystal Point’s common amenities like 24 hour concierge, outdoor pool, indoor whirl pool, resident’s lounge and fitness center.
  • Crystal Point has a 30 year tax abatement. The taxes will be based on the purchase price of each condo and assessed by the City of Jersey City. In years 1-5 of ownership the taxes are approximately 0.9% to 1.1% of the purchase price. In years 5-10 of ownership, the taxes adjust to approximately 1.3% of the owner’s original purchase price. In years 10-30, the taxes adjust to approximately 1.4% of the owner’s original purchase price.

All of these taxes figures are just estimates. I recommend contacting the City of Jersey City Tax Assessor’s Office with specific tax related questions.

If you have any questions about these Jersey City waterfront condo buildings, feel free to contact me, Walter Burns.

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