New To the Market in Dumbo: 85 Adams, 1 Main

 

The following two condos are new to the Dumbo Brooklyn market for the week of March 17-25, 2013:

  • 03/19/2013: 85 Adams Street #19C (Corcoran), $999,000 ($857/sf), $987/mo cc, $30/mo tax (421a abatement expires in 2023), 1,165sf, 2 bed, 2 bath
  • 03/21/2013: [UPDATE 3/28/2013: Contract signed] 1 Main Street #11D (Sotheby’s), $3,200,000 ($1290/sf), $1495/mo cc, $965/mo tax (J-51 abatement expires in 2013), 2479sf, 3 bed, 2.5 bath

85 Adams Street #19C:
This condo was previously listed for $995k in February 2012, lowered bo $949 a month later, and removed from the market in July. Great views of Manhattan from this 19th story condo. Active listings for this building average $851/sqft.

1 Main Street #11D:
According to public records, this condo unit sold in January 2007 for $2,450,000. (In 2005, sold for $1,9150,000.) This condo is a rare 3 bedroom unit (for Dumbo) with full bathrooms for two bedrooms. Direct views of the East River and Manhattan.

See all ‘new to market’ posts

8 Comment

  • I would take 85 adams. 1 main is flood zone a and the building flooded during sandy. I think you need all cash to buy there since no bank wants to risk underwriting a mortgage with that flood risk. 85 adams was not affected by sandy.

  • I would take 85 adams. 1 main is flood zone a and the building flooded during sandy. I think you need all cash to buy there since no bank wants to risk underwriting a mortgage with that flood risk. 85 adams was not affected by sandy.

  • @marla m: No, you don’t need all cash to buy at 1 Main. I just refinanced (post-Sandy) with 20% down without any trouble at all. They have more than an adequate amount of required flood insurance, banks just want to make sure that they’re covered. Better to be in Zone A with lots of insurance than Zone B without any.

    The 85 Adams place looks gorgeous, but goodness they have problems of their own:

    http://www.nypost.com/p/news/business/beacon_dark_uVLi7wGPU20Agouy92d8KM

  • @marla m: No, you don’t need all cash to buy at 1 Main. I just refinanced (post-Sandy) with 20% down without any trouble at all. They have more than an adequate amount of required flood insurance, banks just want to make sure that they’re covered. Better to be in Zone A with lots of insurance than Zone B without any.

    The 85 Adams place looks gorgeous, but goodness they have problems of their own:

    http://www.nypost.com/p/news/business/beacon_dark_uVLi7wGPU20Agouy92d8KM

  • I think its better to not be in Flood Zone A or B, regardless of how much flood insurance you have. 85 Adams look like Flood Zone C. But people have short memories with NYC real estate, the flood will be forgotten, and 1 Main will do fine.

  • I think its better to not be in Flood Zone A or B, regardless of how much flood insurance you have. 85 Adams look like Flood Zone C. But people have short memories with NYC real estate, the flood will be forgotten, and 1 Main will do fine.

  • The 1 Main Street (11D) has a signed contract. It’s been on the market for 7 days.

  • The 1 Main Street (11D) has a signed contract. It’s been on the market for 7 days.