Communities are defined by the stake the citizenry has in it. As such, homeownership is a major indicator as to whether a neighborhood will be successful. Dilapidated projects, failing schools, and the sort have long been abandoned in the City of Newark. This is a new city, with lofts emerging everywhere, franchised businesses making their grand openings, and industry leaders like Panasonic calling the city home. Neighborhoods are starting to emerge from where there was nothing just a few years ago, and there is a buzz about that can no longer be ignored. This is the New Newark.
Recently, Joaquim “Jack” Ferreira, a successful real estate investor and realtor, opened the doors to his own shop known as Cornerstone Realty Associates in the Ironbound District of Newark. The firm operates out of the Wilson Towers, located on 41-51 Wilson Avenue, and specializes in sales, rentals, and property management. Jack is a life long Ironbound resident, who wasn’t too bad of a baseball player. He delved into neighborhoods that didn’t exist in the Central and North Wards, and etched his own way at a time when no one did business in these neighborhoods. While the Ironbound saw properties soar in price points ranging from $500,000 to $650,000 for three family units in 2006, Jack was creating new communities with a vision that convinced the City’s planning board.
In a past incarnation of Mr. Saturday, he was a successful attorney in private practice with offices in Newark and Passaic. He specialized in family and real estate, with a strong real estate background stemming from being senior in-house counsel for a New Jersey licensed mortgage bank.
The aforementioned taken together creates a strong duo that will now be Glocally’s real estate voice. We will take neighborhoods, and break them down. Price points, upcoming projects, current comparables, taxes, and the sort will all be sorted for our readers here on GlocallyNewark.com. We implore readers to ask any and every question they have concerning a certain property, and we shall provide honest and real assessments of potential growth from two experts in the field that have their hands on the pulse from the front lines.
I hope all our readers here on Glocally enjoy this new series.