Rooftop, Sweeney Building with views of J Condo, Beacon Tower, and 70 Washington
Two months ago, I looked at four realtors with exclusive listings in the Dumbo Brooklyn area. In my un-scientific number-gathering, here’s what I found for the four real estate firms:
For Sept 2006, adding up the 57 condos on the market:
– the average asking price is $1,116,541, while
– median price is an even $1,000,000 and
– average price per square feet is $801.95.
Two months later, for the sake of consistency, I’ve added up the condos on the market for the four real estate firms.
As of 11/6/06, there are 61 condos on the market:
– the average asking price is $1,158,829 (+3.79% since the 2 months), while
– median price is $1,075,680 (+7.57%) and
– average price per square feet is $851.14 (+6.13%).
The above numbers don’t include Sotheby’s Realty since I didn’t include them in my previous market update. I include the numbers from Sotheby’s Realty below. Here’s what’s on the market in Dumbo, Brooklyn as of November 6, 2006:
- Douglas Elliman has 8 listings. The average asking price is $1,437,571 while the average price per square feet is $789.73.
- Corcoran has 47 listings (many of them J Condo or Beacon Tower). The average asking price is $1,029,945 while the average price per square feet is $813.44.
- Halstead has 4 listings. The average asking price is $1,288,750 while the average price per square feet is $960.62.
- Brown Harris Stevens has 2 listings. The average asking price is $1,537,500 while the average price per square feet is $900.29.
- Sotheby’s Realty has 7 listings. The average asking price is $1,528,983 excluding the $8.6 million listing of the Clocktower penthouse (which would skew the average).
This is obviously not reflective of the sale price or market value, but meant as a comparison of what’s on the market two months ago vs today. Any brokers out there see increases in sale prices?
{Will Dumbo Real Estate Continue to Rise in 2006?, DumboNYC.com, 9/11/06}
{Dumbo Market is Still Blazing (For Now), Curbed.com, 9/12/06}
Yes, sale price does not reflect market value, but if you compare other markets around NYC, the sale price has decreased, not increased.
Yes, sale price does not reflect market value, but if you compare other markets around NYC, the sale price has decreased, not increased.
The story about how bonuses on Wall Street this year will increase 20% may bring prices and sales in DUMBO (convenient to Wall Street) up.
“At Goldman, total pay will average $659,000 per employee, based on analysts’ estimates for $35.7 billion in revenue, the firm’s average compensation ratio of 47.4 percent for the past five years and a payroll of 25,647 at the end of the third quarter. That includes an average bonus of about $398,000.”
That’s a lot of cash flooding the real estate market.
http://www.bloomberg.com/apps/news?pid=20601109&sid=aqH6cACPmrMo&refer=home
The story about how bonuses on Wall Street this year will increase 20% may bring prices and sales in DUMBO (convenient to Wall Street) up.
“At Goldman, total pay will average $659,000 per employee, based on analysts’ estimates for $35.7 billion in revenue, the firm’s average compensation ratio of 47.4 percent for the past five years and a payroll of 25,647 at the end of the third quarter. That includes an average bonus of about $398,000.”
That’s a lot of cash flooding the real estate market.
http://www.bloomberg.com/apps/news?pid=20601109&sid=aqH6cACPmrMo&refer=home
Pingback: Park Slope Live » Meanwhile, in Dumbo: Ain’t No Bubble Burst
Pingback: Park Slope Live » Meanwhile, in Dumbo: Ain’t No Bubble Burst
I was just in Modern Tots’s new store on Pearl St. what a Mecca for childrens furniture / design. it’s a beautiful store w/ great stuff and a cool kids play area.
-Janis
I was just in Modern Tots’s new store on Pearl St. what a Mecca for childrens furniture / design. it’s a beautiful store w/ great stuff and a cool kids play area.
-Janis
The story about how bonuses on Wall Street this year will increase 20% may bring prices and sales in DUMBO (convenient to Wall Street) up.
“At Goldman, total pay will average $659,000 per employee, based on analysts' estimates for $35.7 billion in revenue, the firm's average compensation ratio of 47.4 percent for the past five years and a payroll of 25,647 at the end of the third quarter. That includes an average bonus of about $398,000.”
That's a lot of cash flooding the real estate market.
http://www.bloomberg.com/apps/news?pid=20601109…
The story about how bonuses on Wall Street this year will increase 20% may bring prices and sales in DUMBO (convenient to Wall Street) up.
“At Goldman, total pay will average $659,000 per employee, based on analysts' estimates for $35.7 billion in revenue, the firm's average compensation ratio of 47.4 percent for the past five years and a payroll of 25,647 at the end of the third quarter. That includes an average bonus of about $398,000.”
That's a lot of cash flooding the real estate market.
http://www.bloomberg.com/apps/news?pid=20601109…