Patrick Southern
Agent, Properties by Southern, SERHANT.
Patrick Southern leads Properties by Southern at SERHANT. and is the sales lead for One Jones Park. His SERHANT. profile says he has 20 years in New Jersey real estate, focused on Hudson County and Jersey City, and more than 3,000 transactions.
Patrick Southern leads Properties by Southern, a team at SERHANT., and is the exclusive sales and marketing lead for EPIRE’s One Jones Park in Jersey City. His SERHANT. profile says he has 20 years in the business, more than 3,000 transactions and a focus on Hudson County; those are the profile’s own claims. The building is covered in our One Jones Park Spotlight, and developer Alessandro Bonati’s side is in our Bonati Q&A.
Why it matters
Southern pitches One Jones Park as a New York-grade building across the river: poured concrete, floor-to-ceiling glass and Italian finishes, against the wood-frame buildings he says buyers compare it with. His profile lists ground-up construction, price per square foot and end-user financing among his specialties. For New York developers watching Hudson County, he is a seller’s-side read on who is buying.
The numbers
He puts One Jones Park under $1,000 a square foot, against about $1,370 for new Brooklyn closings and over $2,000 in Manhattan. Those comparisons are his and we have not checked them. The building has 75 residences, and its developer says 35% have closed.
What’s next
SERHANT. New Development continues to sell the remaining homes. We will update this Q&A as closings progress.
What are you seeing from buyers in Hudson County new construction right now?
Patrick Southern, SERHANT. New Development: What buyers want right now is quality. A lot of the buyers we see are coming out of the New York market, and they know what a well-built home looks and feels like. They expect the same standard when they cross the river.
That's where One Jones Park fits. It's a New York-grade building: poured concrete construction, floor-to-ceiling windows, and the living qualities people are used to in the city. These buyers do their homework, and when the product holds up to that scrutiny, the conversation moves on to which home and when.
Which features have drawn the most buyer interest at One Jones Park?
Southern: The craftsmanship and the quality of the build, hands down. Buyers feel it the minute they walk in.
It's also a boutique building. With 75 residences it feels private and independent, and it still has a real sense of community. The common spaces and the shared rooftop deck, with its Manhattan views, are where neighbors actually see each other.
How does One Jones Park price against comparable new condos in Downtown Jersey City and Hoboken?
Southern: It's competitively priced, and when you look at what you get for the money, it's a real value against what else is selling in Downtown Jersey City and Hoboken. A lot of the buildings buyers compare us to are wood-frame construction. Here you get poured concrete, glass to the ceiling, fine Italian finishes, real common areas and amenities, and a roof deck with beautiful city views.
What would you tell a buyer comparing Jersey City to Manhattan or Brooklyn?
Southern: Jersey City gives you a more intimate way to live close to the city. Downtown here is a small, unique neighborhood where you know your block.
The commute is easy, and you stop paying New York City income tax. New development in Brooklyn has been closing around $1,370 a square foot, and Manhattan is over $2,000. We have homes at One Jones Park under $1,000 a foot.
Answers provided in writing.
Photos: EPIRE; SERHANT..