The strong pace of commercial real estate foreclosures in New Jersey did not abate in the first quarter, in a sign of continuing distress facing income-producing properties, according to newly released state data.
There have been 499 commercial foreclosures filed statewide in the first four months of this year — including one involving a prominent Hackensack office complex, according to data compiled by the New Jersey Judiciary. There were 503 commercial foreclosures in New Jersey in the first quarter of 2009.This doesn't sound like good news to me. Then, again, when was the last time we had good news coming out of New Jersey's real estate market, residential or commercial?
The full article can be read here.
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or if you have questions about what you see here,
contact Stephen M. Flatow
Vested Title Inc.
648 Newark Avenue, P.O. Box 6453
Jersey City, NJ 07306
Tel 201-656-9220 - Fax 201-656-4506
E-mail vti@vested.com - www.vested.com
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