Comments on: Dumbo’s $2million+ Listings (and 202 and 204 Front St)

By: Dumbo NYC, Brooklyn » Archive » 30 Main Street, 7C Sold. Will Dumbo Real Estate ‘Hold Up’? (DumboNYC.com)

Wed, 17 Jun 2009 16:26:13 +0000

[...] the market, 10% below asking seems like the seller got a good price. Back in March 2009, when we talked with a few Dumbo brokers, they said “Dumbo’s condo prices have lowered somewhat around ~5%, it seems to be weathering [...]

By: BrooklynLove

BrooklynLove — Wed, 18 Mar 2009 11:29:27 +0000

“I personally know eight people who are desperate to sell in Dumbo and keep dropping prices three of which are about to go into foreclosure”

link the listings. otherwise i’m calling your BS.

By: stopped renting 12 years ago

stopped renting 12 years ago — Tue, 17 Mar 2009 18:31:10 +0000

renters. up market or down, always trying to justify paying someone else’s mortgage. whose mortgage are you paying diarrhea boy?

By: bh

bh — Mon, 16 Mar 2009 20:54:18 +0000

The “realtor” that was interviewed is high… I personally know eight people who are desperate to sell in Dumbo and keep dropping prices three of which are about to go into foreclosure…

Dumbo started out fantastic, the rentals were great… Now they are maintained so poorly it is sick. The neighborhood is loud and the “Two Trees” people are flat out greedy…

Sad, it was so nice.

By: loose stool

loose stool — Mon, 16 Mar 2009 13:22:52 +0000

Possibly, very possibly some good news for people living under an unregulated lease in a renovated space. If this goes down, you’ll be on top instead of your LL. If you go to NYC.gov, punch in J 51 you can search for your building. Don’t say loose stool never did you a favor!

http://www.nytimes.com/2009/03/15/nyregion/15stuytown.html?pagewanted=1&th&emc=th

By: loose stool

loose stool — Sun, 15 Mar 2009 16:32:31 +0000

BrooklynLove, Well instead of jumping off the top of J Condo they could walk into the ocean. Either way it’s a win win!

By: BrooklynLove

BrooklynLove — Sun, 15 Mar 2009 16:13:33 +0000

but according to you housing values are going down from here so the value of any loan against that house will only decrease. plus safe bet that tuition will be rising and borrowing rates will be higher due to masasive inflation. decreasing collateral value plus higer cost of borrowing and higher cost of consumpiton doesn’t bode too well for your plan.

better off selling crack and robbing tiffany and biff.

By: loose stool

loose stool — Sun, 15 Mar 2009 12:48:53 +0000

Keep you kid in public school through the middle grades, testing indicates there is little difference between (a decent) public and private until high school. By then you could take out a home equity to pay for the last 3 years at a private. You just have to find out who to blow for a scholarship for Tiffany and Biff.

By: BrooklynLove

BrooklynLove — Sun, 15 Mar 2009 12:20:57 +0000

Poly Prep, that’s funny. Slight differential between the tuition there and public school.

Grades 5–10: Tuition $28,000
Grade 11: Tuition $28,350
Grade 12: Tuition $29,075

By: loose stool

loose stool — Sun, 15 Mar 2009 05:06:42 +0000

BrooklynLove,
Poly Prep with the Guido hammerheads.
heavy flo,
Something to look forward to. Ten years from now when the Witnesses’ hole is still here and the J Condoites have moved to the burbs, renting their precious airless condos to the overflow of section 8s from Farragut things will be back to normal. The more things change, the more they stay the same. (I made that up)

By: heavy flo

heavy flo — Sun, 15 Mar 2009 01:30:38 +0000

I long for the days when the only neighbors there were the artists, rats, and industrial tenants. The commercial amenities shall only get worse once Two Trees realizes that they will never be able to develop the density necessary to support and sustain residents and end their subsidized leases.It will be like Butler’s wharf in London – corporate rentals. Who knows, it may devolve back into a post-industrial neighborhood with affordable large spaces.

By: BrooklynLove

BrooklynLove — Sun, 15 Mar 2009 01:12:48 +0000

Bay Ridge is good if you work in Staten Island.

Would you send your kids to that fine public academic institution otherwise known as Fort Hamilton High School?

By: loose stool

loose stool — Sat, 14 Mar 2009 15:14:23 +0000

True enough Bottom Feeder. The only incentive to buy in Dumbo was the possibility of getting in on an up and coming neighborhood. The economy has only exacerbated the negatives. Surrounded by poor people, no amenities, people who live here actively discouraging new development. Oh did I mention the envelope of noise that forces extra building expenses in new construction? 600K would be better spent in a neighborhood like Bayridge, especially if you have kids going to public school. PS 8 is not a lock for the crop of toe heads sprouting in the environmentally abhorrent J Condo. Better to spend money erecting a sidewalk bridge around that building for the wave of jumpers in the near future. Enjoy!

By: Bottom Feeder

Bottom Feeder — Sat, 14 Mar 2009 14:35:32 +0000

One good example of prices falling is unit 5A at 84 Front St (block 00051 Lot 1019) bought for $605,000 in Nov ’06 and sold for $610,129 on 2/26/09. Sellers expectations are unreasonable. They don’t realize that if they sell now, they may be able to get what they paid for their unit. If they wait, they’re under water by the end of the year.

By: loose stool

loose stool — Thu, 12 Mar 2009 23:57:39 +0000

NO CO on 202. That’s fine if it is left as is. If one of you Land Rovers wants to boot the rent stabs out and make it nice for the visiting parents then it’ll be a full blown reno. Let’s see at $200 a sq. foot (gives me a headache).
204 is interesting. COs are there but an active DOB vio exists from 1998. That’s when it was “newly renovated”. Judging from the look of the $50 vanities, circa 1998 sounds right. I forgot, getting rid of the riff raff will set you back 6 months to a year, depending on how much spine they have.
Loose Stool predicts these prices will drop drastically.