Aug 2007 Edition: Lowest Dumbo Apartment on the Market

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:

1) 206 Front Street, Apt 2D

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
Maint/CC: $386
Taxes: $29 (monthly)
$880 per sqft

2) 100 Jay Street, #5J

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
Maint/CC: $350
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?

{Corcoran listing for 206 Front St, #2D}
{Citi-habitats Listing for 100 Jay #5J}
{Dumbo Condo Real Estate Market: April 2007 Edition}

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