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Clermont Cove is a condominium building located in the Paulus Hook section of Jersey City, N.J.

Address      how to get here…

1 Greene Street
Jersey City, NJ 07302-4545
(201) 309-0729

Basic information

Number of units: 119 plus resident manager’s unit
Year built: 1987
Common areas: pool, eighth-floor sky lounge
Parking: one parking space accompanies each unit. Units on lower floors have spaces in a self-parking deck. Units on upper floors have a space in valet parking.

History

The Clermont Cove condominium building was originally a four-story brick structure. A developer, Happens Associates, bought the land and the vacant building in July 1985. The following year, Happens started construction, rehabilitating and expanding the building to an nine-story building. The first unit was sold on Jan. 26, 1988. By the end of 1988, 40 units had been sold.

Sales slowed in the real estate slump following the stock market crash of 1987. Between 1989 and 1992, only seven units were sold. The managing partner of Happens Associates purchased 14 units. In late 1994, the mortgage holder for the remaining unsold Happens Associates units told possession of the units. The N.J. Superior Court appointed Value Asset Management as property manager until a buyer could be found. In 1996, CC Capital took possession of the unsold units, and in October, the company started selling the units. The last CC Capital unit was sold in 1998.