Benjamin D. Jogodnik is a vice president with Toll City Living. Read his comment about the Hoboken stake that RE brokers are hung with!
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"Quite a few brokers, often avid real estate investors themselves, wound up putting their money where their mouths are, at Toll City properties. Some 40 of them have bought $35 million worth of real estate at Toll buildings that have gone up on the Hudson waterfront over the last three years, according to Toll’s records.
Real estate sales agents have bought condos to live in, or to rent to tenants — or both — at four company properties, including 700 Grove in Jersey City, and Harborside Lofts at Hudson Tea, and Maxwell Place on the Hudson in Hoboken, Mr. Jogodnik said. Many of those same people have also brokered sales and are continuing to market condos in buildings where they own property, he added.
Dean Geibel, the principal of Metro Homes, said he had witnessed the same broker “hat trick,” so to speak, at several of the buildings his company has developed in the waterfront district."
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