Brooklyn vs. Jersey City: What $500K Buys You

As Brooklyn prices continue to soar, you may be wondering if the color of the grass looks any different on the other side of Manhattan. We did a little comparison shopping to see what $500,000 buys you in Brooklyn versus Jersey City.

We chose Jersey City for its similarity to Brooklyn. For those who don’t know, Jersey City is the second biggest city in the state. It’s also only one stop from Manhattan on the PATH train.

Our requirements were simple: $500,000 or less, and no more than a 30-minute commute to lower Manhattan.

Which would you choose?

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Starting in Jersey City, our first pick is a two-bedroom condo located directly on the coveted Hamilton Park. This charming unit has soaring 15-foot ceilings with exposed brick wrapping around the upper part of the walls. An original wood-burning stove and exposed beams in the kitchen give it an added bit of rustic charm. It’s located about a 10-minute walk from either Grove Street or Newport PATH stations, either which will have you in Manhattan in 15 minutes.

255 8th Street #4L
Area: Hamilton Park, Jersey City
Price: $429,000
Square footage: 725
Taxes: $4,312 a year
Time to Manhattan: 23 minutes
Broker: Armagno (Philip Rivo)
See it here ->

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Jumping over to Brooklyn, we found a 500-square-foot, one-bedroom condo in Cobble Hill Towers, the famed 1879 landmark built by philanthropist Alfred T. White as a model for worker housing. This recently renovated unit has a well-appointed galley kitchen, a rather large bedroom and a modern albeit somewhat small bathroom. The jaunt from the building to lower Manhattan via the F train at the Bergen Street stop takes 19 minutes.

439 Hicks Street #4D
Area: Cobble Hill, Brooklyn
Price: $500,000
Square footage: 500
Taxes: $3,828 a year
Time to Manhattan: 19 minutes
Broker: Corcoran (Barbara Katsnelson)
See it here ->

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Back in Jersey City, here’s something you certainly won’t find in inner Brooklyn at this price point: an entire Victorian row house in move-in condition. There are period details throughout, including antique light fixtures, multiple fireplaces (one of which has an incredible decorative mantel), extensive trim work and wide-plank pine floors. Add in a private outdoor garden and you might forget where Brooklyn is. It’s located a bit deeper into Jersey City in the McGinley Square neighborhood. You’ll have to catch a bus to the PATH, but even so you’re still into Manhattan in under 30 minutes.

124 Harrison Avenue
Area: McGinley Square, Jersey City
Price: $474,000
Square footage: n/a
Taxes: $3,122 a year
Time to Manhattan: 29 minutes
Broker: Weichert (James Martin Jr.)
See it here ->

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Lastly, back in Brooklyn, this one-bedroom ground-floor condo in South Slope has its own private entrance. Its interior was designed by Andres Escobar, who went all out with a full wall of Calacatta Gold marble in the kitchen. Other highlights include an oversized peninsula with seating and a main living area large enough for a dining table. Located just a few blocks from the R at Prospect Avenue, you’ll be in Manhattan in about 24 minutes.

200 16th Street #1D
Area: South Slope, Brooklyn
Price: $499,000
Square footage: 612
Taxes: $492 a year
Time to Manhattan: 24 minutes
Broker: Corcoran (Jackie Torren)
See it here ->

Jersey Digs covers real estate and related topics in New Jersey. For Brownstoner, they’ll report on culture, tourism, and real estate news of interest to Brooklynites. For more Jersey City real estate market coverage, visit Jersey Digs.

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