May 10th, 2012
The NY Times published an article about the 30 Washington Street building conversion, which will be about 100 rental apartments and will take about a year to renovate. Writer Jake Mooney includes some other nuggest of information, including a reference to how Dumbo’s housing market is doing well.
Brooklyn Paper also mentioned last month that Dumbo rents are higher than most of Manhattan. With the limited inventory in the neighborhood, the average price of a studio in Dumbo was $2,567 per month ($300 more than last year and $458 more than the average studio price in the Lower East Side), writes Brooklyn Paper.
With 205 Water Street, 220 Water Street, 37 Bridge Street (Kirkman Lofts), 192 Water Street, and 133 Water Street added to the real estate mix, real estate developers are trying to meet the demand in the area.
The other item mentioned in the NY Times article is the long-planned 400-unit Dock Street project next to the Brooklyn Bridge is to begin in July. Currently, a parking garage and lot occupy the space where the Dock Street project will break ground (photo above). We spoke with the garage staff who mentioned that they are no longer offering monthly parking there and renters have been notified that they will have to find other garage space by June to prepare for the Dock Street project.