Happy Tuesday North Jersey!
If you celebrate, I hope you had a great Father's Day weekend filled with whatever brings you the most joy, whether it be food, adventure or good old rest and relaxation.
And I hope you enjoyed the beautiful weather because, as I'm sure you're more than aware, we're now experiencing our first New Jersey heatwave of the summer. While summer doesn't officially kick off until Thursday, the heat just couldn't seem to wait.
If you're looking for ways to keep the family cool and comfortable during this heat, browse our big list of how to stay cool in a North Jersey heat wave. Or if you don't feel like looking through the whole list — though you should because there's some pretty good stuff in there — then at least take some time to explore one of these 13 North Jersey splash pads.
And if you just can't bear to go out in the heat at all, then why not stay inside with the air conditioning and read your favorite real estate newsletter? Let's get into this week's updates.
Princeton home of late President Grover Cleveland listed for $5.95 million
For this week's historic home for sale, David Zimmer explores the property at 15 Hodges Road in Princeton, which has been listed for $5.95 million. It was the final home of late President Grover Cleveland — who was born in Caldwell — and his wife, Frances Cleveland, after the two decided in 1896 to stay in Princeton in retirement.
Originally built in 1854, Cleveland named the home "Westland" in honor of his close friend, Princeton University Professor Andrew F. West. Prior to him, the property was built and owned by U.S. Navy Commodore Robert F. Stockton, a Princeton native who served in the U.S. Senate from 1851 to 1853 and commanded the New Jersey militia at the start of the Civil War. The property is also registered as a National Historic Landmark.
Sitting on 1.6 acres, the modern-day home boasts six bedrooms and seven bathrooms. The property includes manicured landscaping, a renovated pool, a covered porch and a three-car garage. Inside, you're met with more than 12-foot tall ceilings, a library, twin parlors, a modern kitchen and bathrooms with updated conveniences, fireplaces and more.
This Ridgewood house set a price record. Now the one next door beat it
Ridgewood is known to have homes sell for a pretty hefty price tag. I mean, the median home price there in May was $1.18 million after all. But one home just raised the bar even more, setting a record for the most expensive home sale on the village's east side.
The home at 104 Brookside Ave. was originally listed for $3.495 million on April 4, but after receiving multiple offers and going under contract in just six days, it officially sold for $3.7 million on May 10. Prior to this, the home just next door — 102 Brookside Ave. — had been the priciest property to sell in Ridgewood's east side, at $3.15 million.
This six-bedroom, seven-bathroom Craftsman-style home boasts about 4,126-square-feet of living space on a 0.78-acre lot. It has a gourmet kitchen, a banquet-sized dining room, a large family room and a first-floor bedroom. There's also a large primary suite and four other bedrooms on the second floor, a third floor with an additional bedroom and a finished lower level with a custom kitchenette, a home gym, storage and space for an office or extra bedroom.
How much do hidden housing expenses cost New Jersey homeowners?
Buying a home involves more than just a down payment, mortgage and closing costs. There are also utilities, WiFi, property taxes, homeowners insurance, unexpected repairs and other home maintenance. These additional costs add up to about $18,118 a year, or $1,510 per month, for a typical single-family home valued at $436,291 across the nation. These same expenses were $14,428 annually, or $1202 per month, in 2020.
According to Bankrate, New Jersey actually has the fourth highest hidden homeownership costs in 2024 at $25,573 annually. This is 25%, or $5,193, higher than they were in 2020. For a median priced single-family home of $502,400, annual hidden homeownership costs include about $10,048 in maintenance, $10,026 for property taxes, $1,466 for homeowners insurance, $1,594 for cable and internet bills, as well as $2,439 for energy bills.
For the 2nd year in a row, this NJ city was named the worst city in the nation for renters
In a recent rental report from Forbes Advisor, Newark ranked as the worst city for renters among 95 major U.S. cities for the second year in a row. Jersey City was also included in the list, ranking as the eighth worst city overall for renters.
To determine the best and worst cities for renters, the report considered data from 21 metrics in three main categories: affordability, availability and amenities, and lifestyle and safety.
Earning a score of 0 out of 100 in the ranking, Newark's lack of rental availability and higher than average price changes contributed most to the city's ranking. In the report, it said Newark has about 8.5 available rental units per 100,000 households, compared to the study average of 164. And for the percentage of non-apartment rentals available, the city has 9.3% compared to the study average of 48.4%.
For affordability, rental prices increased by $250, compared to the study average, which decreased by $43. The median monthly rent in Newark is $2,100, and residents typically use 22.1% of their income on rental expenses.
Gallery of the week
The second phase of one of the largest residential complexes built during Hackensack's recent redevelopment boom has opened on River Street, at the site of The Record's former headquarters.
Phase 2 includes 425 rental units, which is part of the sprawling 20-acre Print House development with a total of 696 units and roughly 40,000 square feet of retail space. Retail tenants here are expected to include German grocery store chain Lidle, a drive-thru Starbucks, a Hackensack Meridian Health medical clinic, Jersey Mike's and Blue Foundry Bank.
In addition to more residential units, the second phase of the project brought the development a riverfront pool, outdoor lounge areas, a two-story clubhouse, lounge and work-from-home spaces.
It's refreshing to see the old stomping grounds of The Record transformed into a residential and retail hub. While we don't call the site home anymore, it's creating homes for more North Jersey individuals right in Bergen County.
Check out some more work from myself and others below. But for now, that's what's up in North Jersey. See you next time!
Maddie McGay is the real estate reporter for NorthJersey.com and The Record, covering all things worth celebrating about living in North Jersey. Find her on Instagram @maddiemcgay, on X @maddiemcgayy, and sign up for her North Jersey Living newsletter. Do you have a tip, trend or terrific house she should know about? Email her at MMcGay@gannett.
Local News
Comments / 0