I did not need a balcony, said Foram Matalia,a renter at the new 225 Grand building in Jersey City. She also decided in advance that she could live without a sparkling view of the New York City skyline. But she knew she wanted a one-bedroom apartment in a classy new structure for herself and her husband. Matalia said she looked at units in the same building,and elsewhere that were way expensive,like $2,200 a month. But by remaining clear-eyed about what she could forgo,she said,and by bargaining for all she could get,she was able to rent a fifth-floor apartment for a little over $1,600 a month. The apartment doesnt face the city, she said,but we can see the Statue of Liberty out the living room window. Call it the less-than-fully-loaded lifestyle,which seems to be spiking in popularity in this state where ominous rumblings from Trenton indicate the economy may be stuck in low gear for quite a while longer. People want to live in buildings with a good location and lots of amenities,but sometimes the only way to do it is to buy or rent the cheapest apartment in the building. Michael Harris,who bought an 817-square-foot condominium with less-than-the-best views,as he said,at Canco Lofts in Jersey City a few months ago,feels entirely at home with the compromise he made. I see part of another building out the window,and the mountains of western New Jersey,instead of New York, Harris said. After I decided I wanted to live here,because of the amenities and the location,I looked at half a dozen units in my price range. Some were smaller than this one,and some had more light. But I decided I could happily trade off for the space. Jacqueline Urgo,the president of the Marketing Directors in Manhattan,which is handling leasing or sales for about a dozen newer luxury buildings in northern New Jersey,said increasing numbers of people are finding brand-new units affordable with the price breaks and other enticements being offered. (Harris said his closing costs were paid by the Canco developer.) But still,just getting in the building might be a stretch for someones budget, Urgo said. If they are stretching to be in a luxury building with lounge,pool,fitness center,etc.,then they know they need to take the least expensive bite of the apple. Some people take advantage of their own offbeat hours or predilections to get lower price points,she noted. (Vampire buyers,as brokers sometimes refer to people who work at night,do not reap the same benefits from huge windows and exceptional views,and may leap at inside units with smaller price tags,. Urgo and other marketers say.) Others just focus on the idea of getting in on the ground floor yes,sometimes literally at a new building they think will be hot, Urgo said. They think,maybe we can upgrade later within the building, she added. Jodi Stasse,the president of Stasse and Company,which is marketing Canco as well as the Trump Plaza Residences condominium tower in Jersey City,said: Everybody who walks in the door either place wants to live in the best unit. Its the first thing they want to see,even if they know beforehand they cant afford it. People like to get a sense of all the possibilities,she said. If they fall in love with the Canco amenities,the look,the feel of the neighborhood inside the building, which has a full-time concierge,a 24-hour gym,a free shuttle to the nearby PATH station,and extra-tall ceilings in every unit (starting at 14 feet),Stasse said they often become realistic about not having a penthouse,or as much space as they desire. At Canco,a converted factory complex (it was the American Can Company headquarters),most apartments are quite large,but some studios and one-bedrooms have only around 600 square feet. All the windows are supersized 11 feet tall or more but some units have only two windows and partially obstructed views. Irfan Ozaltine,who with his wife recently bought a 900-square-foot studio there,said his unit currently looks out over a parking lot. But we are hoping for the future, Mr. Ozaltine said,because Canco has a plan to put a park there.
