What You Get For $1.75Million in Dumbo (Oct 2007)
October 22nd, 2007
Today we look at a comparison of three condos in Dumbo on the market for $1,750,000 (as of 21Oct2007). On a side note, a quick search on the NY Times Real Estate listings for $1.75million in Manhattan shows that two bedrooms prices in Dumbo are on par with Manhattan two bedroom prices. Of course there are many types of neighborhoods to choose from in Manhattan, but Dumbo is now one of the Brooklyn neighborhoods with apartment prices equal to pricing in Manhattan (and in some cases more). Crazy, huh?
1) 42 Main Street 8D
The above video, featured on openhousenyc.tv, is of 42 Main Street, #8D. This duplex condo is 1500 sq.ft. and is listed for $1,750,000 ($1167/sq.ft). The 2 bedrooms/2.5 bathroom apartment has a 420 sq.ft. private terrace. Common Charges are $1133 per month and RE Taxes are $21 per month. The terrace is a nice extension of the apartment for outdoor dining and entertaining.
twotreesre.com listing
2) 70 Washington Street: 2 bedroom, 2 bath, 1551 sq.ft. ($1128/sq.ft.)
“L-line” with 11-12 foot ceilings and views of the Brooklyn Bridge and downtown Manhattan. Large, open kitchen with top of the line appliances.
sothebyshomes.com listing
3) 100 Jay Street: 2 bedroom, 2.5 bath, 1711 sq.ft. ($1023/sq.ft.)
“A-line” with panoramic views of the Statue of Liberty to the Empire State Building. Common Charges are $1127 per month and RE Taxes are $36 per month.
sothebyshomes.com listing
October 22nd, 2007 at 10:34 am
Is this 42 Main video a joke? Two Trees Real Estate is pushing this condo based on views of the bridge that are going to be extinguished by their own Dock Street Building. Nice listing Aaron, highly ethical pitch.
October 22nd, 2007 at 6:44 pm
OVER-RATED and OVER-PRICED
October 22nd, 2007 at 11:03 pm
Very good choices for the comparison. Its fun to get a look inside these different buildings. Thanks for doing the legwork. Hard to believe DUMBO is over $1000 sf, but I guess the views say it all.
All three are bargains next to the Penthouse(23A?) in Beacon Tower shown last week!
October 23rd, 2007 at 2:52 pm
You’ve got to hand it to Two Trees. Showcasing and dramatizing the view they intend to completely extinguish with their new building. Just like how they are showcasing and dramatizing their offering rental space for a school in the new building. But they are not lying with that promise. Just this promise. Right.
October 24th, 2007 at 7:23 am
if a TT building actually does go up directly in front of the views from the numerous 7 figure condos among these various buildings – 70 washington, sweeney, etc., should be interesting to see what that does for values of units in buildings with pretty much uneffected views, like jcondo and beacon …
October 24th, 2007 at 11:54 am
I can’t believe the appreciation on the 70 Washington property.