07/19/14 7:00am

brooklyn_new_dev_report_2Q14_pdf

MNS, the Brooklyn real estate firm published their second quarter 2014 Brooklyn New Development Market Report. MNS’ New Development Market Report tracks the market trends with a quarter-over-quarter and year-over-year comparison throughout Brooklyn on both a citywide and neighborhood basis. New development data was compiled from the Automated City Register Information System (ACRIS) for sponsor sales that traded during the Second Quarter of 2014 (04/01/14 – 06/30/14). All data summarized is on a median basis.

The total number of New Development Sponsor sales in Brooklyn jumped up 84.5% from 1Q14. The following neighborhoods did not account for any New Development sales during this time: Kensington and Prospect-Lefferts Gardens. The sharp increase in the number of sponsor sales in Brooklyn is likely due to an excited New Development condominium market this past spring season. Median sales pricing in all of Brooklyn increased 19% from the previous quarter and Median Price per Square Foot increased 24% compared to 1Q14.

Brooklyn Overview

  • The total number of new development sponsor sales in Brooklyn jumped up 84.5 percent from the first quarter.
    • The sharp increase is due to a robust new development condo market this past Spring.
    • Sponsor sales in Brooklyn Heights accounted for 13.33 percent of all new development sponsor sales in Brooklyn. The median PPSF and median sales price in Brooklyn Heights has increased every quarter since 4Q13.
  • One bedroom and three bedroom units represented 25 percent and 44 percent of all sales in Brooklyn during 2Q14, respectively.
  • There are 48 New development condominiums being developed in Williamsburg and the nabe will continue to see high growth margins throughout this year and next.
  • Median sales prices in all of Brooklyn increased 19 percent from the last quarter and median pricing per square foot increased 24 percent.
  • Highest new development sale: 360 Furman Street – Apt. 1302, Brooklyn Heights – $4,991,561
  • Highest new development sale PPSF: 75 Columbia Street – Apt. 1A, Cobble Hill – $2,937 PPSF
  • Year-over-year median PPSF: Up 29.7 percent
    • Quarter-over-quarter PPSF: Up 23.6 percent
  • Year-over-year median sales price: Up 26 percent
    • Quarter-over-quarter sales price: Up 19.1 percent
  • Largest quarterly upswing: Williamsburg
    • PPSF from $821/SF to 1,244/SF
    • Sales price from $1,185,761 to $1,767,338
  • Largest quarterly downswing: Boerum Hill and Cobble Hill
    • PPSF from $1,020/SF to $700/SF
    • Sales price from $952,807 to $661,080
  • Neighborhoods where the majority of 4Q13 inventory was sold per unit size
    • Studios in Brooklyn Heights: 20 percent
    • One bedrooms in Greenpoint: 32 percent
    • Two-bedrooms in Bed Stuy: 23 percent
    • 1,500+ SF in the Brooklyn Heights: 25 percent

Dumbo continues its very low inventory (especially new development) and only had 1% of total new development sales in Brooklyn in Q2 2014. Dumbo’s median sales price for new development was $1,616,425 (from $750,000 in Q3 2013). Median price per square feet for new development in Dumbo is $1,141 (vs $948 for all Brooklyn).

Previously:
{2013 Q3 New Development Report for Brooklyn, 22Oct2013}
{2013 Q2 New Development Report for Brooklyn, 18Jul2013}
{2013 Q1 New Development Report for Brooklyn, 18Apr2013}

07/18/14 4:38pm

Now through August 15th, Dumbo’s stylish and eclectic furniture and home accessory store Journey is having a sale on all handmade furniture from India. If you are not familiar the space, Journey was originally started in Park Slope in 1995 by husband and wife team Pam and Bill Rohl. Inspired by independent furniture stores that dotted Soho in the late 80’s and early 90’s Journey has occupied a beautiful location at 72 Front Street since 2010. They feature local artists such as Wynne Noble, Tara Dixon, Jaimie Walker, and Gail Garcia just to name a few. The store’s mission is to inspire their customers to “layer” their design and not stick to just one style. J0urney is always evolving and features a mix of vintage, contemporary and industrial furniture, plus accessories from Brooklyn to India and many places in between. Stop in today and see just how eclectic and exciting the space is.

IMG_6844 IMG_7306 IMG_7297

 

Location: 72 Front Street,

Website: http://www.journeydumbo.com/

07/17/14 8:19pm
Quesillo

Quesillo

This week, a new lunch joint joined the neighborhood: Little Nica, a pop-up stall run out of Little Muenster on Front Street in Dumbo. Falling in line with Little Muenster’s wheelhouse of cheese and bread, the pop-up shop will serve Quesillos – Nicaraguan street food composed of handmade corn tortillas, semi-soft cow’s milk cheese, pickled onions and crema – at the restaurant’s Front Street location through September.

Husband and wife ownership team Vanessa Palazio and Adam Schneider are the brains behind both Little Muenster and the pop-up shop concept. Schneider explained the impetus for the summertime shift to Nicaraguan food: “Vanessa’s family is Nicaraguan and she is a first-generation American and it has always been an interest to bring Nicaraguan cooking to the States. Americans have become accustomed to Latin flavors and we feel that we can expand their horizons even more.”

The tortilla and fillings are rolled into a cone, and are meant to be eaten with one hand. Add-ons include smashed avocado, slow-roasted pork, and braised lengua (tongue). “Think quesadilla meets burrito,” he says.

Menu items cost between $5.50 and $8.50, and the shop is open from 11:30 AM to 4:00 PM Monday through Saturday.

Already smitten with Little Nica’s Quesillos? Perhaps a permanent Quesillo shop is in our future, “if people show enough interest,” Schneider says.

Little Nica Logo

Little Nica’ (Nicaraguan Street Food Pop-Up)
145 Front Street, Brooklyn NY 11201
Phone: 646.499.4331
Hours: Monday-Saturday: 11:30am-4pm


(Jessica Thurston is a DUMBO resident and contributor to DumboNYC. With a background in environmental sustainability and urban planning, she loves learning about everything going on in the neighborhood – and drinking iced coffee from One Girl Cookies.)

07/16/14 1:07pm
(Photo courtesy of Come Out & Play Festival)

(Photo courtesy of Come Out & Play Festival)

On Friday, July 18, a relaunch of the live-action version of the classic video game, Pac-Man, will consume DUMBO streets. PacManhattan is an interactive event in which costumed players will join into teams and chase each other through the neighborhood streets, decked out as Pac-Man and Ghosts.

PacManhattan will kick off the Come Out & Play Festival, an annual festival of street games that will turn the city into a playground on August 18 – 19. Players will be guided via cell phone over a nine-mile course, starting with a chase through the neighborhood’s cobblestone streets. This year’s game is the 10th anniversary of the first PacManhattan game, which took place among the streets of Greenwich Village in 2004, organized by New York University students.

Game designer Pete Vigeant, one of the original NYU game creators, is looking forward to the shift from Manhattan to Brooklyn. “The entire grid is filled with amazing micro and macro views of what makes NYC an amazing place,” Vigeant told DumboNYC, “and the players will get to soak it up as they transform the space into a gameboard. Our goal is to make urban environments magical and I can’t wait to add to the magic that’s already pulsing through DUMBO.”

The game will be held from 3:00 to 8:00 PM on Friday, with tickets for each session needed from 3:00 to 6:00. Games are first-come, first-served from 6:00 to 8:00.

“It’s a really amazing team effort and results in this high-tech mash-up of capture the flag and tag, with a video game flair,” Vigeant explained. “And everyone wears costumes, which is pretty fun as well.”

Interested in getting your Ghost on? A limited number of tickets to PacManhattan are still available, and if you miss the chance to join in on a team, there will surely still be plenty to see.

(Jessica Thurston is a DUMBO resident and contributor to DumboNYC. With a background in environmental sustainability and urban planning, she loves learning about everything going on in the neighborhood – and drinking iced coffee from One Girl Cookies.)

07/14/14 1:45pm

Smorgasburg sign

It has become our Sunday morning tradition to head into Brooklyn Bridge Park for an early lunch with friends at Smorgasburg. Our first time there this summer was a bit dangerous as it was my first time experiencing the sights and smells of Smorgasburg while pregnant. I knew I had to control myself, but I wanted to sample something from every vendor we passed – a dumpling here, a ramen burger there, a bite of my husband’s bbq sandwich. I was in heaven! I quickly learned, though, that not only were my eyes bigger than my stomach, but my wallet couldn’t handle the demands I put on it. It was time to remind myself that this amazing market was in my neighborhood and that I could come back every Sunday for lunch so there was no need to try to taste everything in one visit. We’ve made it a point to try something new each Sunday we visit.

This past Sunday we ventured back into the park to meet some friends for lunch. As we walked in the north entrance of the market we noticed a new feature – the Smorgasbar. It was great to see additional seating since finding an open table can be tough, but was disappointed to learn that the area was closed off to us pregnant non-drinkers. I guess I have that to look forward to for next year.

Smorgasbar sign

Having skipped the bar, I went straight to the Vermont Maple Lemonade stand where I always start my Smorgasburg lunch with the most refreshing maple syrup lemonade. I then struggled for a bit in deciding what to eat since it was so hot and humid out. I don’t like eating hot food when I’m hot, especially while I’m pregnant, so was left with limited options. I opted for cold peanut noodles from Noodle Lane, which were fantastic. They offer three different spice level options, so to avoid getting serious heartburn or putting myself into pre-term labor, I went with mild. Thank goodness I did because it was still extremely spicy! Although I was completely full from the noodles and lemonade (and samples of my husband’s Takumi Tacos), I could not resist an ice cream sandwich from the good batch. I absolutely love their goodwich sandwich. It has just the right balance of salty and sweet. As I came down from my sugar high, we headed back to the apartment for an afternoon nap and to begin planning our Smorgasburg strategy for next weekend.

Smorgasburg Noodle Lane

the good batch from Smorgasburg

Smorgasburg is open every Sunday at Brooklyn Bridge Park, Pier 5 from 11 AM to 6 PM. For a full list of vendors, visit Smorgasburg.com/vendors. If you’re pregnant at Smorgasburg, make sure you ask for your meat cooked well and double check that all the cheese is pasteurized.

(Post by HK Stern, DumboNYC contributor)

07/11/14 2:24pm

Brooklyn Bridge Parents reports that there are open spots for Pre-K at PS 307 on York Street in Vinegar Hill. They are expanding its Pre-K program this fall to 6 classes, each with a size of 18 students and 2 teachers. For the month of July, out-of-zone families can apply directly at the school on Tuesdays, Wednesdays and Thursdays from 9 am to 2 pm. Parents should bring a birth certificate, proof of address and immunization records to register their child born in 2010.

Beginning in the 2014-2015 school year, PS307 will become a science and technology-focused Magnet School for STEM Studies. Contact PS 307 for more information about the Pre-Kindergarten program.