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July 2008 – Week 3 Issue
Best of Bergen County
Rents reign in Bergen County
Penthouses in high demand in New Jersey
Bergen County to be eco friendlier
Fuel costs drive measured usage of gasoline
A poll on the ‘Best of Bergen’ was conducted for the year 2008 by the magazine 201. Besides voting by readers, the decisions were also based on suggested ‘bests’ by experts in the region. The survey revealed encompassed businesses ranging from food to florists, parks, orchards and even business meeting regions. The best brunch was voted for Teaneck’s Shelly’s Café 492 Cedar Lane. Also the vote for the best gift shop went to Teaneck’s ‘Animations’ at 475 Cedar Lane. The best place to pose for wedding pictures was voted to be Tenafly’s Davis-Johnson Gardens while Ridgewood Hot Bagels was voted the best for bagels in Bergen County. Finally the best gymnasiums were voted at Englewood and Montvale as they have high end equipment. The (201) staff and experts also gave their picks on the Best of Bergen for 2008. This encompassed Saddle River Inn, Saddle River for the Most Romantic restaurant, Phil Simms as the favorite local sports personality, Park & Orchard of East Rutherford for its best wine list and Sushi Metsuyan of Teaneck for best sushi.
Rentals continue to rule in Bergen County and the neighborhood as real estate experts state that this market will stay strong for some time to come. Many apartments in and around New Jersey are being rented out as many people now prefer to rent apartments than purchase them. This could be because of the uncertain housing prices and the mortgage crisis. High rents in regions such as Manhattan are also driving many people to opt for rentals in areas such as Bergen County, which is one of the fastest new apartment markets in the state. Statistics for the first quarter of 2008 also reveal the rental occupancy rates at 97%, which is one up from the rental occupancy rates of 96% for 2007. The office market is another major driver in rentals as many small companies prefer to lease space for office purposes. Many small companies are opting for small spaces and leases ranging from three years to ten years. Statistics reveal that the corridor class A office market in the region shows an unchanged vacancy rate of 8.8% and an average rent of $40 per square foot.
Penthouses in high demand in New Jersey
Despite reports of a slow economy and high prices of housing, many are now seeking penthouse apartments. Housing experts report that luxury housing has not suffered from the economy and penthouses are being sought by people from diverse walks of life. Many of those seeking penthouses are usually attracted to its large size and come here for more space. Athletes, doctors, attorneys and business people usually come seeking this form of housing. Also low supply of penthouses puts them on high demand and many people are even willing to wait to buy a penthouse. As per experts, reasons that make a penthouse attractive for home buyers is large interrupted space and a good view of the skyline. Many penthouses also come with special amenities, making the deal all the more attractive. Besides purchasing a penthouse, these can also be taken for rent as many tenants are doing that too. Depending upon the number of bedrooms and facilities available, rentals for penthouses usually range around the $2000 to $6000 mark in the New Jersey region.
Bergen County to be eco friendlier
Many Bergen County towns may soon adapt new measures to save fuel and the environment. Using a mixture of cooking oil and diesel fuel in equal proportions is noted to help power vehicles now. In this regard, eight municipalities of Bergen county are in talks with North American Biofuels for its technology. This firm is said to have gained the technology on converting grease tap waste into bio diesel fuels. While the move could be a major cost saver for people, it has its share of benefits for the environment also. Disposed oil usually clogs sewer systems and its reuse will save this from happening. While unprocessed vegetable oils can also be used, their usage has still not received the green signal from the US Environment Protection Agency. Authorities state that this is because it is difficult to measure emissions from vegetable oils, as each batch differs in composition. However the move is heralded as a positive one as people are now involving themselves to see what they can do for the environment.
Fuel costs drive measured usage of gasoline
A high fuel costs in various towns of Bergen County has driven many employers to keep an eye on how employees are using it. Diverse measures like video cameras and electronic card systems are being used to monitor fuel usage. In Alpine, video cameras were being used in municipal pumps while Dumont officials discovered excess usage of gas by firefighters using electronic equipment. With the average cost of a gallon of gasoline over $4, many officials are looking into means to curb its usage and reduce cost. Keeping an eye on misuse of gasoline is also being looked into. The pinch is not only being felt by residents who purchase fuel but also by town officials who buy the fuel in bulk and do not even pay taxes for it. With this commodity becoming increasingly expensive, officials are now keeping vigilance on how it is being used. Towns like Teaneck are also using systems like cards and personal identification numbers to track the usage of fuel. Some towns are also in the process of updating old systems and using modern fuel depots to track the extent of usage. While these moves are being commended, many officials have also aired the concern that even with all the latest equipment, not all can be made accountable.
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