April 2nd, 2013 by admin
On January 1, 2013, DMREM began managing the Madison on the Park Condo Association, an historic 11-unit condo building located at 277 York Street in the Van Vorst Park neighborhood of downtown Jersey City.
The owners called on DMREM when their previous management company fell short of expectations after Hurricane Sandy. The building sustained quite a bit of damage from the storm, which hit at the end of October 2012, but had barely made any recovery by the time we took over.
We’re happy to say that things are finally getting back to normal.
December 15th, 2012 by admin
We’re currently project managing facade repair work at one of our Jersey City Heights condo buildings. After years of dealing with water stained walls & ceilings and water puddling on the window sills every time it rained or snowed, the owners finally challenged us to try to determine where the water was coming from. After a thorough investigation we thought we figured out the problem.
We identified 3 major structural deficiencies that were contributing to the leaking. The first was the front parapet wall. The top of the front wall, which is covered by a number of capstones, had large cracks and joints
December 6th, 2012 by Mike
There’s no other way to say it…Sandy was a real capital B-I-T-C-H! She was the most devastating storm the tri-state area has seen in the past 100 years. And she made sure she left her mark on Jersey City, Hoboken, NYC, and the other boroughs.
Unfortunately, some of DMREM’s clients in downtown Jersey City were hit pretty hard. Pictured above is a 3 unit building that we manage on Mercer Street, opposite City Hall, that got hammered. During the storm, tenants say the water was flowing in the street like a river. The water level reached the side view mirrors of most mid-sized cars parked on the street.
September 27th, 2012 by Mike
Fire Escapes are very important building components that are often neglected. In the state of NJ, that won’t be the case for much longer. There is a statewide mandate for municipalities to regularly inspect and certify these all important, life-saving structures.
In Jersey City, the Fire Department has an initiative to have every fire escape inspected within the next 3 years. What does this mean for property owners? It means that you better pay close attention to the maintenance of your fire escapes, because if you don’t it could get very costly.
May 20th, 2012 by admin
D&M Real Estate Management is proud to announce the acquisition of its newest client, the Trolley House Lofts: a new 20-unit, luxury condominium development located at 325 Palisade Avenue in Jersey City Heights.
October 15th, 2010 by Mike
Here are some photos of a complete bathroom renovation that we did in a condo building in Jersey City. The bathroom was gutted down to the four walls and floor. The shower walls were removed and replaced with Hardibacker Board; the shower body was replaced; a new self-leveling underlayment was poured to re-inforce the subfloor, the drywall was skim-coated with compound, and a combination of beautiful 12×12 and 3×6 (subway) Grecian White Marble tiles were used to finish everything. Of course, a new toilet, vanity, medicine cabinet, and lighting were installed. The only thing that was salvaged was the bathtub, which was reglazed.
June 7th, 2010 by admin
DMREM is happy to announce that it has taken on the Hamilton Town Condominium, a 22-unit condo building on Tenth Street in Hamilton Park neighborhood of downtown Jersey City.
This condo was one of the first conversion projects of the early 1980′s. Three middle-aged real estate developers had a vision for the run down, drug-laiden, Hamilton Park neighborhood. They decided to start by adjoining three borded up apartment houses to create the project.
It boasts 5 floors serviced by an elevator, a backyard for common use, and a basement with laundry facilities and storage for bicycles and
January 28th, 2010 by Mike
The 2009 calendar year has officially come to an end and a new year has begun. For property managers this means closing out the books, generating year end financial statements, and creating budgets for the new year. This, to me, is an opportunity to prove my worth to my clients by showing them profits and/or savings, especially in this tough economy.
December 4th, 2009 by Mike
The Jersey City real estate market has enjoyed significant price increases over the last 10 years. The price increases in 2005 and 2006 were in double digits. While 2007 reflected a slow down, the average price in 2008 still inched up around 4%. Prices in 2009 are slightly down with higher priced properties seeing the most significant decline.
November 29th, 2009 by Mike
Freddie Mac (NYSE: FRE) announced today that in 2008 it set a record of $24 billion in volume for its multifamily whole loan and bond guarantee business (multifamily mortgage settlements), a more than 10 percent increase over the 2007 volume of $22 billion.