Trump Plaza Jersey City

[shahaggy]

I'm not sure if the "organic nail salon" ever opened, but Buon Italia was shuttered and dark.

yeah, 2 years later and still no noticable work has been done on the retail space.

[JCConfidential]

I'm not sure if the "organic nail salon" ever opened, but Buon Italia was shuttered and dark.

[MCA™]

Trump condo tower in Jersey City increases sales this year
Monday, October 18, 2010
By KARINA L. ARRUE
JOURNAL STAFF WRITER

In a bid to boost sales, Trump Plaza Residences in Jersey City, the state's tallest residential building, has redesigned common areas, added new landscaping and new furnishings to the pool and cabana area on the seventh floor, and has a new model condo unit to show off.

"The changes have helped in the identity of the building as a Trump residence," said John Paszamant, sales director for Stasse and Company, the agent for the 55-story tower.

A new two-bedroom model residence - inspired by the work of teams that designed a condo at the tower for an episode of "HGTV Design Star" this past summer - was recently installed to entice prospective buyers.

"Being able to show (potential buyers) how their furniture and belongings will fit into their home is priceless," said Jodi Stasse, the principal at Stasse and Company.

And perhaps the aggressive marketing campaign has paid off: The tower, which was completed in 2008, has sold 288 out of 443 units.

Paszamant says they have probably sold four times more so far this year than in all of 2009. Approximately 50 homes have sold since January and about 20 of them were sold during the summer months, which is typically a slow time for real estate sales, he said.

And a key commercial tenant is moving in.

Buon Italia, a wine bar and market that sells imported groceries and prepared foods, recently signed a lease for some of the tower's retail space, Paszamant said.

The business, whose flagship store is located in Chelsea in Manhattan, will open around the first of the year, he said, adding that a dentist's office and an organic nail salon are also slated to open around the same time.

Pricing for homes at the plush residence range from the mid-$400,000s for one-bedrooms, the mid-$600,000s for two-bedroom units on up to $930,000 for a three-bedroom home at the penthouse level.

[wideman]

Luxury Trump Residences in Jersey City to be featured on 'HGTV Design Star'

Published: Friday, July 23, 2010, 2:25 PM Updated: Friday, July 23, 2010, 3:15 PM

The reality show "HGTV Design Star" will be featuring a Jersey City luxury condo building in this Sunday's episode, according to a news release from the building.

In the episode, the show's finalists were split into two teams and given the challenge of designing  a two-bedroom apartment in the
443-unit property, located at 88 Morgan St., according to the release.

The 55-story building is the tallest residential tower in the state, according to the release.

Donald Trump Jr. serves as a guest judge on the installment.

The building, which has one-bedroom apartments starting at $400,000 and two-bedroom apartments starting at $600,000, offers panoramic views of the Hudson River, the Statue of Liberty and the New York City skyline. Amenities include a seventh-floor terrace with pool and cabanas, a glass-enclosed fitness center and an exclusive spa with a Roman-style aqua grotto, according to the release.

It also has white-glove concierge service, a screening room, a dining room with catering kitchen, a game room, an Internet-accessible business center, an outdoor landscaped lawn area and a children's tot lot, according to the release.

The 12 "HGTV Design Star" contestants are competing against each other in various design challenges for the ultimate prize -- their own show on HGTV.

The show will air Sunday at 10 p.m. on HGTV.

[MCA™]

Q:

The amenities were nice, but I don't really need a spa that is only open to people that live in the building.  How is that possibly sustainable?

A:

the maintenance fee is astronomical it was in the 850 neighborhood.

[CeeDub]

Maybe throw in Donald wigs as an incentive to buy, kinda like a gift-with-purchase?

[wibbit]

I'm thinking of moving soon and was walking by the other day and decided to check it out.  It is very expensive, the space isn't so big either.  Most of the units I saw had a combo washing machine/dryer right in the kitchen.  for 650k it looked out of place.  However the view of lower Manhattan and the statue of liberty were quite nice.  Lastly the maintenance fee is astronomical it was in the 850 neighborhood.  The amenities were nice, but I don't really need a spa that is only open to people that live in the building.  How is that possibly sustainable?

exactly i have no problem with real luxury buildings charging a premium but trump is all fluff without any substance. The interior finish is a joke, cloth washer/dryer combo in the kitchen for a lot of units, no central hvac, kitchen/bath is average at best. It got a nice lobby to draw in the crowd and make it look luxury but when you actually look at the units and even the hallways, you will quickly realize it's nothing more than a below average development.  Buildings like 77 hudson and crystal point with custom embeded kitchen, bath, central hvac etc.. blows the trump away....at similar price and lower maintenance fee.  This is a big joke. The only thing going for trump is the height, if you buy a 50+ floor unit for the view it may be something...otherwise why?

[garyg]

I'm thinking of moving soon and was walking by the other day and decided to check it out.  It is very expensive, the space isn't so big either.  Most of the units I saw had a combo washing machine/dryer right in the kitchen.  for 650k it looked out of place.  However the view of lower Manhattan and the statue of liberty were quite nice.  Lastly the maintenance fee is astronomical it was in the 850 neighborhood.  The amenities were nice, but I don't really need a spa that is only open to people that live in the building.  How is that possibly sustainable?

[wibbit]

a new trump logo and an arrival room?!!? wow that's awesome it totally changed my mind about this pretentious overpriced luxury-wannabie building, i am so buying it now! The new purple drapes sealed the deal for me

[MCA™]

From the NYT:


A Second Act for Trump Condo
By ANTOINETTE MARTIN
Published: January 21, 2010

THE tallest, “Trumpiest” condominium in New Jersey — the 55-story Trump Plaza Jersey City — hit the market two years ago, just as economic forces aligned to hamper its success.

Dean S. Geibel, a managing partner of Metro Homes, then an exceedingly busy builder on the “Gold Coast,” had the Donald from across the river lend his name and label to an ambitious plan for two mammoth residential towers that were to become the tallest in the state. They would swagger on the Jersey skyline, luring luxury-level bargain-hunters from Manhattan and pied-à-terre seekers from all over the world; that was the plan.

But the plan changed. The second tower was put on “indefinite delay” as work on the first was still being completed.

Today the lone Trump building stands about half full, with 239 of its 443 units sold. Only a handful of sales have occurred in the year since the housing market and Wall Street meltdowns. And in August, after Metro Homes defaulted on payment of its construction loans, iStar Financial took over ownership of the building. It has since hired the real estate company Coalco to devise plans for a “relaunch.” (more)

[jcpeace]

not a lot of lights on in the ugly trump bldg at nite......i bet it's less than 50% occupied

[bdlaw]

Thank you for calling my neighborhood shitty.

As far as the location is concerned (no, I do not live in Trump or any of the other towers over there), I like my 15 minute commute very much, thank you.

I do agree, however, that the building is ugly.  So we get to yes on that, at least.

[shahaggy]

damn ugly building and really shitty location as far as I'm concerned.   

[fasteddie]

And they wanted to name a street after this deadbeat? Deadbeat Street.

[MCA™]

Trump Plaza's developer hits $$$ 'bumps' for 2nd tower
Tuesday, December 09, 2008
By PAUL KOEPP
JOURNAL STAFF WRITER

The developer of Trump Plaza in Jersey City has defaulted on a construction loan for the waterfront project's second tower, sending a bank after him for over $13 million.

Not to worry, says the developer, Dean Geibel of Hoboken-based Metro Homes LLC. He said he is working on refinancing the $24 million loan, and the 50-story, 418-unit highrise will still get underway some time next year.

Geibel stressed that the default does not reflect Trump's own financial situation, since Trump's involvement is limited to a licensing agreement allowing the use of his name.

"This is not really about Donald Trump, it's about Metro Homes," Geibel said.

Capital One filed the complaint against Geibel in state Superior Court in August, seeking to enforce a guarantee by the developer to pay back at least $11 million by January 2008. The loan, backed by the property on which the tower will be built, was signed in January 2006.

Asked about the complaint, Geibel attorney Leo Leyva wrote in an e-mail: "We are in complex negotiations with a number of parties in an effort to resolve the outstanding issues which many real estate developers are currently facing."

He added that the action should not have been filed because the guarantee is "only effective in the scenario that the real estate was worth less than the indebtedness, and that is clearly not the case."

Capital One's complaint said that as of Aug. 5, Geibel owed almost $2.3 million in late fees, attorney fees and interest payments in addition to the $11 million guarantee, with another $8,667 being tacked on each day.

He said he still has a "good working relationship" with the bank and is looking to add a partner to help with financing the second building, which will cost around $150 million and take about two years to finish. "We just hit a couple bumps along the way," Geibel said.

He said the first Trump Plaza building has been "very successful," with 375 of its 444 units sold.

[MCA™]

Trump's name won't trump Morgan in Jersey City
by The Jersey Journal
Wednesday November 26, 2008, 3:29 PM

Having nixed the idea of changing the name of Morgan Street in front of Trump Plaza Jersey City to Trump Plaza last night, Jersey City council members started giving their reasons why today.

"It wasn't even a question. One guy was a war hero and the other was a developer with a TV show and an interesting haircut," said Downtown Councilman Steven Fulop.

Morgan Street is named in honor of Revolutionary War hero Brigadier General Daniel Morgan.

Ward B Councilwoman Mary Spinello said she "didn't think it (changing the name) was necessary." Plus, changing the name of Morgan Street between Washington Boulevard and Greene Street would only encourage other developers to make the same request, she said.

Many of the council members credited Yvonne Balcer, a resident who spoke at Tuesday night's meeting, with making a convincing case to keep the status quo.

The council voted 6-2 not to make the change. Council members Bill Gaughan and Peter Brennan voted for the change. City Council President Mariano Vega missed the meeting.

Trump couldn't be reached to comment on the council vote.

Since condos at the 55-story, 444-unit Trump Plaza Jersey City went on sale in late 2006, 375 sales contracts have been signed and 207 of those sales have closed, officials said.

[MCA™]

JJ:


Council nixes street name change for the Donald
Wednesday, November 26, 2008

The City Council last night voted down an ordinance to change the name of Morgan Street between Washington Boulevard and Greene Street to Trump Plaza.

The change was to be in recognition of the two-tower Trump Plaza development, a joint venture between the Trump Organization and Metro Homes LLC, run by Hoboken developer Dean Geibel.

The council voted against the ordinance 6-2, with councilmen Peter Brennan and Bill Gaughan the only members supporting the measure. Council President Mariano Vega did not attend last night's meeting.

Since condos went on sale at the first 55-story, 444-unit Trump Plaza tower in late 2006, 375 sales contracts have been signed and 207 of those sales have closed, according to Trump spokesman George Cahn.

He said construction of the second tower has been delayed indefinitely because of the credit crunch.

PAUL KOEPP

[alb]

I think it's a bad idea to name a street after a living person. What if the person gets into a scandal?

If the city does such a thing, then it should require big sponsorship fees or the public service equivalent. If Trump invests $1 billion in overhauling the public schools, then, fine name a street after him. If he's just another rebate hack, then he ought to have to put, say, $20 million into a school improvement fund to get a street named after him.

[bdlaw]

Thank god.  Jersey City has retained at least a small portion of its dignity.

Yes.. the non-pissed on part   

As a resident of the PAD- wrong.

[nikki]

Thank god.  Jersey City has retained at least a small portion of its dignity.

Yes.. the non-pissed on part   

[elgoodo]

Thank god.  Jersey City has retained at least a small portion of its dignity.

[MCA™]

Jersey City’s City Council introduced an ordinance to rename a section of Morgan Street in downtown Jersey City as Trump Plaza last Wednesday, but some council members and audience members objected to the idea, according to the Jersey City Reporter.

[MCA™]

Trump Plaza Jersey City
88 Morgan Street
Jersey City, NJ 07302
Tel: 1-888-NJTRUMP

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