Dumbo NYC

The following three condo units just came on the market last week in Dumbo Brooklyn.

• 1 Main Street, #3C, 1 bed, 1.5 bath, 1,191sqft (floorplan), $609/mo cc, $1,385,000 ($1,162/sqft)
• 100 Jay Street #4F, 2 beds, 2 baths, 1,421sqft (floorplan), $902/mo cc, $1,395,000 ($902/sqft)
• 70 Washington Street #11I, 2 beds, 2 baths, 1,417sqft (floorplan), $585/mo cc, $1,495,000 ($1,055/sqft)

While all have their pros and cons, which one is your favorite? All are full service doorman loft buildings. Views of the bridge, check. High ceilings, check. And of course there are intangibles. And not that this should factor into your purchase, but all three have resident celebrities (the most recent being Andy Roddick and Brooklyn Decker just moving into one of these buildings). So which one is it going to be?

The publicity power of Two Trees Management has gotten recent articles in the NY Times interview with David Walentas, NY Post’s article about the Clocktower PH, among others. The NY Post writes that Prudential Douglas Elliman’s Raphael De Niro is the new co-exclusive listing agent for Walentas’ $25 million and that celebrities such as Jay-Z and Ralph Lauren have taken a look at the 7,000 sq.ft. $25 million triplex in Dumbo. The NY Times interview quotes Mr. Walentas “I’m close to selling it. We’re showing it. It’s not sold, no.” The new Douglas Elliman listing has some beautiful photos (see below) by photographer Evan Joseph. Click on each photo for a larger version:

Floorplans:
 

45 Main Street, photo by mopostal in the DumboNYC Flickr group.

Apparantly the 124 unit One Main Street building is so exclusive that it has two penthouse units on the market. The first one is the 14th floor, two bedroom 3208 sq.ft. condo that was previously Brooklyn’s most expensive condo at $7million has been listed at $8.5million ($890/mo RE tax, $2061/mo maintenance). The other penthouse, THE penthouse at One Main, is the one featured in NY Times this weekend is on the market for $25million. The photos of this condo look incredible.

Here are the stats:

• A triplex penthouse apartment at 1 Main Street in Dumbo for $25million (more than double the highest price known to have been paid for a home in Brooklyn.)
• Four 14 foot high round clocks
• A glass-walled elevator and a three-story floating staircase at the center of the space
• Main Floor: 3,000 square foot main floor with 16 foot high ceilings
• Second Floor: 2,300 square foot, three bedrooms
• Third Floor: 988-square-foot open loft with a 15-foot ceilings
• Top “crow’s nest”: A staircase that goes to the top of the building.

NY Times has some photos in a slideshow here. We saw the solarium (crow’s nest) built in early 2008. The photos and views from the condo are probably the best views money can buy for a private residence in Brooklyn and arguably in NYC.

This is a unit you can’t compare, but just for fun, if you combine the 18 penthouse units in 70 Washington, you could have purchased them all for $28million which would give you over 22,000 sq.ft. and $11,000 per month maintenance fees. Mr. Walentas mentions that this is “one-of-a-kind space that would appeal only to a one-of-a-kind buyer.” Will you buy it?

{1 Main Street Rooftop Solarium, 25Jan2008}
{High Priced Condos at One Main Under Contract, 26Mar2008}
{One Main PH Sale Sets New Brooklyn Record, 06May2008}

As we mentioned earlier, Spike Lee is directing a commercial for Rocawear, starring Jay-Z. Below are a few pics…happening now (12:15pm) on Main Street:

“Spike Lee filming Jay-Z outside the Arena as we speak” (PowerHouse Arena)

“Jay-Z commercial being shot in Dumbo” (Brownstoner)

“Jay-Z filming an advert with new DUMBO resident Spike Lee” (PowerHouse Arena) [ED: Spike's production company is based in Dumbo, but don't think he lives in Dumbo.]

Search for more on Twitter.

Main Street in Dumbo

Spike Lee

Spike Lee (pictured in the center with the NY Yankees cap)

The 30 Main street unit we featured in October closed last week. According to the owner, after posting the FSBO website, they enlisted Charles Homet of Halstead Property to market the property in mid-November. After 6 months on the market, the condo sold at $1.425mil (10% less than the $1.585mil asking).

Considering the market, 10% below asking seems like the seller got a good price. Back in March 2009, when we talked with a few Dumbo brokers, they said “Dumbo’s condo prices have lowered somewhat around ~5%, it seems to be weathering the economic downturn due to its proximity to Manhattan and the fact that the neighborhood is very small.” But a Time article written yesterday predicted that home prices in metropolitan NYC (which includes Westchester, northern New Jersey and other nearby areas) “will fall 40.6% from the prices that prevailed in March.” But again, Dumbo is a small neighborhood with limited stock. Another FSBO at 70 Washington Street we featured in late April 2009 is already in contract after only 2-3 weeks with Sotheby’s. Time will tell how real estate will play out in Dumbo.

Previously:
{FSBO: 70 Washington Street, #4S, 20Apr2009}
{FSBO: 30 Main Street, C Unit, 21Oct2008}
{FSBO: 84 Front Street #4D Sold, 15Sept2008}

The Dumbo Farmer’s Market will begin this Sunday, June 7, and on every Sunday from 11:00 a.m. to 5:00p.m until November 22nd at the entrance of the Brooklyn Bridge Park on Main Street. There are some new vendors and live music.

Along with last year’s vendors, shoppers will find Greek yogurt, hand-made planters and artisan bread, as well as lively, old-timey music by Johnny Sheppard and Billy Swing. Community Markets is proud to welcome the following vendors to the Dumbo Farmers Market:

Orwashers Bakery: Along with his other beloved artisan loaves, Keith Cohen, the new owner of Orwasher’s Bakery in the Upper East Side, will be selling his “wine bread” or pain de campaigne. To make the bread, Cohen infuses the starter with clusters of Chardonnay grapes from the local Channing Daughters Winery. Cohen plans to recreate new starters with each new vintage. Eventually he wants to get local wheat too!

Likistakos Specialty Foods: Also from the Upper East Side, will be selling their homemade Greek yogurts that are flavored with seasonal local fruit like nectarines, grapes, and peaches, Likistakos also offers dips, spreads and tasty Greek desserts and will be selling at the market beginning on June 21.

Alive Structures: This is a woman owned business that is based in Brooklyn. They have a practical plan to improve air and water quality, reduce energy dependence, and create open green space in New York City. With a focus on native plants, they will be selling planters made from recycled paper and concrete. The planters have an industrial and organic aesthetic and are handmade using entirely local materials.

{Dumbo’s Farmer’s Market Photos, 18June2008}

There seems to be a dispute at the 45 Main Street Parking Garage which is confusing people who hold monthly spots there. The garage is leased by Rapid Park but the monthly parkers received a letter in September stating that on December 1, 2008, Rapid Park will be replaced by Kwik Park. Rapid Park is refusing to leave and disputing the lease with Two Trees Management, who own the building. Readers have sent emails stating that while Two Trees have been helpful by offering alternative parking, they are confused about who to pay their bills to. From a reader:

We currently park at Rapid Park (next to West Elm, on Main), but heard that the rent is going up there, and I’m not sure where to look for parking garage/lot alternatives. i.e., is the garage under J street only for condo owners?…Right now we pay $358. I heard it is going up in Nov and December and that then Two Trees (or some other Walentas affiliate, if there is one), is buying it and will refund the raised rent, but I don’t recall if rent will be going up again. Anyhow, it got me wondering if there wasn’t a better deal around the neighborhood.

Another reader said this: “Many are unsure as to whom they should pay their rent. What up? Is there a resolution in sight? Can’t see how Two Trees will not prevail. It’s their building, Walentas himself parks there, and Rapid was given many months notice.” Does anyone have any ideas or have a favorite garage or parking lot for parking?

A new for-sale-by-owner (FSBO) website for a 30 Main Street condo is online at dumbo-condo.com. The owner has raised the bar for FSBO websites. The last FSBO we posted in August also had a website with plenty of photos (and sold in only 6 weeks). In addition to the photos, this FSBO site has comprehensive information on Dumbo and its culture, shops, restaurants, schools, and building history. The 2 bedroom, 2.5 bathroom condo at Sweeney Building is asking $1,585,000 ($938/sq.ft., maintenance $884 and real estate tax $88). The corner unit 1,689 sq.ft. condo has lot of light and priced lower than other current sales in the building according to streeteasy.com. Other listings are listed at $1,153 per sq.ft. What do you think? Floorplan after the jump.

{dumbo-condo.com}

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The Real Deal’s September 2008 issue looks at the most expensive condos in the outer boroughs of NYC. Brooklyn’s top condos start at $7 million plus for the One Main Street penthouse on the 14th floor in Dumbo as reported in May. David Walentas is renovating the 16th floor penthouse and into a three-story penthouse with roughly 6,000 square feet, and a private rooftop “observation deck.” The unique features are the four 15-foot-high clocks on each wall and dramatic views of the city. The plans have not been disclosed, but when all is done, the rumors are that the condo will sell for $30 million+, which easily tops the most expensive condo in Brooklyn.

The Real Deal’s Top 10 most expensive Brooklyn condos:

1. One Main Street, Dumbo, $7 million-plus*, full-floor, 3,200 square feet, no terrace, 3 bedrooms, 2.5 baths.
2. One Brooklyn Bridge Park, Brooklyn Heights, $6.96 million, four lower penthouse units combined, 6,145 square feet interior and 826 square feet exterior, 6 bedrooms, 5 bathrooms.
3. One Brooklyn Bridge Park, Brooklyn Heights, $6.19 million, two townhouses combined, 4,949 square feet interior and 839 square feet exterior, 6 bedrooms, 5 bathrooms.
4. One Brooklyn Bridge Park, Brooklyn Heights, $6.05 million, two lower penthouse units combined, 3,442 square feet interior and 1,900 square feet exterior, one bedroom, library, office, 4.5 bathrooms.
5. One Brooklyn Bridge Park, Brooklyn Heights, $5.35 million, lower penthouse, 2,687 square feet interior and 2,029 square feet exterior, 4 bedrooms, 4 bathrooms.
6. One Brooklyn Bridge Park, Brooklyn Heights, $5.15 million, two lower penthouses, 3,456 square feet interior and 1,903 square feet exterior, 4 bedrooms, 4 bathrooms.
7. One Brooklyn Bridge Park, Brooklyn Heights, $4.998 million, two apartments, 3,946 square feet interior (no additional information provided).
8. One Brooklyn Bridge Park, Brooklyn Heights, $4.575 million, lower penthouse, 2,191 square feet interior and 1,696 square feet exterior, 3 bedrooms, 3 bathrooms.
9. One Brooklyn Bridge Park, Brooklyn Heights, $4.45 million, lower penthouse, 2,452 square feet interior and 1,814 square feet exterior, 3 bedrooms, 3 bathrooms.
10. On Prospect Park, Prospect Heights, $4.4 million, 2,608 square feet, 72 square feet exterior, 4 bedrooms, 3 baths.