Hoboken Weathering the Market

First, you should know: I'm stealing this whole thing from the New York Times. Hoboken was booming. Boom or bust? Not really. The greatest little city is showing that it can hold its own in a down market, too. Average sales prices are still increasing for downtown condominiums. Developers say that their new buildings are still selling out. The Web service Streeteasy.com reports that waterfront properties continue to command premium prices. Hoboken’s west side, a former industrial area that was nearly unimaginable as a neighborhood only five or six years ago, is completely viable. Buildings at both the Hudson Tea and Maxwell Place complexes are approaching completion. Both developments have had steady sales, with Maxwell Place now about 95 percent sold. New high-end developments keep springing up. The Vesta Group, a developer of boutique condo buildings in TriBeCa and Chelsea in Manhattan, has just begun marketing a 16-unit project on Observer Highway on Hoboken’s south side. And now, the one amenity that Hoboken has been sorely lacking is in the works. A movie theater. Hooray! Hooray movie theater. Last week, Tarragon, in partnership with Clearview Cinemas, broke ground on a five-screen theater.