NYC real estate prices continue to increase despite a housing slump in the rest of the country. Dumbo is no exception in NYC, with average and median asking prices above $1million and average price per square feet inching closer to $900. So let’s take a look at the least expensive apartments in Dumbo. The least expensive on the market is priced at $475,000. There are currently two units on the market at this price:
Alcove studio 540 sqft (with 104 sqft roof terrace), Storage Bin Included, 9 Ft Ceilngs, Subzero, Wide Plank Maple Floors, Washer/Dryer Hook Up Nero Impala counters, Kohler stainless steel sinks, Deep-Soaking Tub
Taxes: $29 (monthly)
$880 per sqft
Alcove studio 582 sqft; Features include granite kitchen countertops, designer hardwood cabinets, marble vanities, sinks and showers with Grohe faucets, soaking tub, elegant Brazilian cherry wood floors, Asko washers and dryers
Taxes: $9 (monthly)
$816 per sqft
With these prices, is Dumbo real estate protected from its proximity to Manhattan or are we due for a correction?