Traditionally condos are not considered the best real estate investment. You usually don't get the best return at resale. That was before the crazed home-buying frenzy of the last year.

A condo just sold at the 99 Hudson development for a whopping $3.9 million. The company behind the project, China Overseas America, announced a few weeks ago that the 2,400 square foot unit was delivered in "white box condition," meaning without walls or finishes.

It sits near the top of the 79-story 781 unit building and features over 1,167 square feet of outdoor living space, which probably means you would have an amazing balcony area with incredible views of Lower Manhattan, the Upper Bay and the Hudson River.

The 99 Hudson development is the third largest residential building in the country. The project has had some hiccups with a few buyers filing lawsuits against the developer for alleged construction defects. But if you act fast, you can maybe find your dream home in Jersey City in this record-breaking stunning property. Check out more of the details here.

Most of us don't have $3.9 million to plunk down on a condo, but this property is not for the "ordinary" crowd. In this economy, where the well-to-do are doing better-than-well, and the real estate market exploding more and more each week, expect more record sums to be paid for property everywhere. Even in a state like New Jersey, which had the largest outward migration of any other state again last year. W

hen your next-door neighbor is unstable, unpredictable NYC, even New Jersey looks like paradise.

The post above reflects the thoughts and observations of New Jersey 101.5 talk show host Dennis Malloy. Any opinions expressed are Dennis Malloy's own.

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