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Hoboken Condos Sell For Whatever You Feel Like Paying

The never-ending quest to cut brokers out of real estate transactions has made it to Hoboken, and the Post's real estate blog, Home Page (heh, get it?). On it, Max Gross writes about Velocity, a new two-building development that looks like an old schoolhouse, and has what must be the most entertaining "building history" section of a website ever. On June 24th in Jersey City, 40 of the building's 128 condos will be auctioned off to any and all comers, what has to be a first for non-DEA-seized new construction. "We'd rather let [buyers] establish a price in the market," the developer told Gross. Bidding starts at $295,000 for one-bedrooms, and $395,000 for two-bedrooms. If they really want buyers to establish the price, there should be no minimum, right? We'd pay a cool hundo to live in the 'Boken.
· You shall bid on our Velocity! [Home Page]
· Velocity [velocityhoboken.com]