I went on a listing appointment the other day in Union City (commercial property) and was kind of disappointed when I saw the building from the outside. But when I walked inside, I was really impressed by what I saw...an embroidery factory in full operation. Prior to being a realtor I worked in the fashion industry (garment center) and shouldn't have been so impressed by this but it was impressive to see. There was one man operating all these machines as he gave us a tour of the building at the same time. From the mid-1800's to the early 1900's, many immigrants came to Union City and an embroidery industry was founded. This along with many low-paying embroidery jobs helped to establish Union City as the self-styled "embroidery capital of the world". Hence, the name for the new condo building (15-story, 151 unit building) in Union City, "The Thread". How things have changed...with this being said I decided to do a quick recap of condo inventory in Union City (see below for results, very different from Hoboken pricing).
studio's = 6 units/ median price = $160,500
one bedroom = 81 units / median price = $229,000
two bedroom = 121 units / median price = $329,000
three bedroom = 22 units / median price = $399,000
information compiled from the Hudson County MLS, information deemed reliable but not guaranteed.