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Broker Spotlight: Q&A with Megha Moza, Sotheby International Realty

Tell us a little about your brokerage firm.

The brokerage I work for is Sotheby’s International Realty, who opened their doors in the Jersey City waterfront area. Coincidentally, we are at 77 Hudson and neighbor 99 Hudson. The company is a brand to reckon with when it comes to Luxury Real Estate globally and I’m excited to be a part of it.

Tell us a little bit about your background in the industry.

I started in the business in 2012 in NYC, and moved that same year to a team that worked in New Jersey. In less than 5 years I achieved over $100 million in cumulative sales volume. Now I specialize and focus primarily on the luxury waterfront market in Jersey City. I’m also increasingly working with developers on bigger projects now, having recently sold out a 24-unit condo project in Newark last year. In addition to that, I have a couple of projects in the pipeline for next year. In a nutshell, my focus is the luxury market in the area and my database caters to that market.

When did you first start bringing clients to 99 Hudson?

I started bringing clients to 99 Hudson last year.  I have already sold two Penthouse homes and one two-bedroom residence in the building. All three were sold to past clients who own in Luxury buildings throughout Manhattan and Jersey City.

What are your client’s reactions to 99 Hudson?

People love what they see. The fact that the maintenance is pretty reasonable as compared to other buildings around is attractive. People in the luxury market also want world-class amenities that 99 Hudson provides. Overall, the feedback is very positive.

What are the strongest selling points of 99 Hudson?

  • Location
  • Views
  • Amenities
  • The feeling of buying into an ultra luxury building

How does 99 Hudson compare to other new condominium communities in the area in terms of homes, views, amenities, location?

I don’t think there is any true comparison since it’s a completely different product. If you are looking for views and luxury in a high rise, then 99 Hudson is the obvious choice. It’s also pretty competitive in terms of price as compared to what’s out there.

How does 99 Hudson fit into the Hudson County for-sale market? 

As the market is changing, we are seeing an increase in inventory in Jersey City. Having said that, there is still a demand for luxury and 99 Hudson addresses that need. People who love the Exchange Place neighborhood prefer this location to other newer developments.

Has 99 Hudson’s introduction had an effect in raising awareness of Jersey City amongst New York City homebuyers?

I definitely think it has made quite an impact on NYC buyers. The penthouses that were sold at the price points they were sold at brought a lot of attention to Jersey City. We saw an increase in showing requests from Manhattan buyers.

How does 99 Hudson compare in value to similar offerings in NYC?

99 Hudson offers spectacular views and has lower HOA costs as compared to other newer developments. If you are looking for views and want to live in an ultra-luxury high rise, then this is the building a buyer is looking at.

From what I’ve seen in NYC, price per square foot is much higher for comparable ultra-luxury, new construction product, so if people are looking for views and new construction, 99 Hudson is a good choice considering the commute to the city is excellent.   I have shown 99 Hudson to a couple of New York City buyers, and since they took too long to commit, they lost out on the high-floor homes they were interested in.