Hoboken real estate seems to be reaching new highs everyday. But if you want to feel good about your purchasing power in Hoboken, then check out a shack that recently sold in San Fransisco. It was listed at $350,000 – the cheapest listing in the Golden Gate City. The shack actually received multiple offers (6 in total), and sold for $408,000, fifty eight grand over the asking price.
We at Hoboken, Inc. don’t think the price is as crazy as it sounds. The value is obviously in the land. And whoever bought the place will likely tear it down and build something livable. Right now the shack is a blight on the community, so a new/rehabbed building will benefit everyone. We also think real estate prices will continue to increase for many cities. The trend of the urbanization of America means more people want to live in walkable areas with convenient public transportation, without having to rely on a car for everything.
Here’s a video tour of the inside, by Realtor.com: