Dumbo Real Estate High and Low (Jan 2010)

Real estate is focused on location, views, and amenities- all of which Dumbo offers with proximity to Manhattan, Brooklyn culture, parks, and galleries, waterfront views, and neighborhood events, shops, and eats. Despite the real estate bubble bursting since 2008, the cost of living in the neighborhood has not significantly decreased. While a few newer built buildings that don’t have the views or have low build quality have seen prices decline, the historic lofts that have been converted to loft apartments have held steady or in some cases have sold for higher than purchase prices (post 2008).

Streeteasy.com, which lists all real estate sales currently has 90 listings for Dumbo with a median price of $734,000 (median size 1,040 sq.ft.) and a median price per sq.ft of $859. Below are the top 5 high and top 5 low price listings. It’s interesting to note that 19 of the top 20 are in 3 buildings: 1 Main (8 units), 30 Main (4 units), and 70 Washington (7 units).

High:

  1. 1 Main St, #16, $25,000,000, 3 bed, 3 bath, 7000sqft ($3,571/sqft)
  2. 1 Main St, #14, $8,500,000, 3 bed, 2.5 bath, 3,208sqft ($2,649/sqft)
  3. 1 Main St, #5D, $4,200,000, 2 bed, 2.5 bath, 2,477sqft ($1,695/sqft)
  4. 1 Main St, #6G/H, $3,300,000, 3 bed, 3.5 bath, 3,300sqft ($1,000/sqft)
  5. 30 Main Street #8G, $2,675,000, 3 bed, 2.5 bath, 2,474sqft ($1,081/sqft)

Low:

  1. 100 Gold Street #1F, $445,000, studio, 1 bath, 807sqft ($551/sqft)
  2. 206 Front Street #2E, $445,000, studio, 1 bath, 540sqft ($824/sqft)
  3. 100 Gold Street #2F, $450,000, 1 bed, 1 bath, 700sqft ($642/sqft)
  4. 206 Front Street #2D, $465,000, 1 bed, 1 bath, 540sqft ($861/sqft)
  5. 100 Gold Street #3R, $485,000, 1 bed, 1 bath, 702sqft ($690/sqft)