Coveted Three-Bedrooms Are Rare No More Thanks to Construction Boom

70 Washington

70 Washington

It’s a common scenario: Dumbo families outgrow their two-bedroom apartments but can’t find anything bigger in the neighborhood. Until now.

A construction boom has led to a remarkable upswing in the number of three-bedroom units on the market.

A recent count showed 44 three-bedroom units on the market in Dumbo. Twenty-nine of the 44 listings were new construction. Fifteen were resales.

Knowing the scarcity of three-bedroom apartments in Dumbo, developers have recently moved to include three-bedrooms in their new buildings, such as 200 Water Street51 Jay Street, and 1 John Street, where three-bedroom units are available from $3,760,512 to $5,227,810.

Meanwhile, concerns over nearby construction may explain the unusual number of three-bedroom units available at such buildings as 100 Jay and 30 Main Street, Dumbo resident and Halstead agent Terrence LeRay and Brown Harris Stevens agent Elizabeth Lind Johnson, also a Dumbo resident, said. This has created a buying opportunity, Lind Johnson believes.

Brownstoner has the full story.

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