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. (more…)
The sharing economy is about more than finding your own health insurance and funding your own 401k. It’s also about being independent while networking with other entrepreneurs to discover new ways of sharing workspaces that promote collaboration and creativity. Here are some co-working spaces doing things right in Dumbo.
DUMBO Startup Lab (DSL) is committed to helping entrepreneurs become part of a vibrant community of like-minded individuals in a welcoming loft space. They offer flexible plans for everything from individuals just needing a desk to groups brainstorming huge projects. DSL is located at 68 Jay Street and gives members access and amenities that include a kitchen space with free water, coffee, and tea, as well as hosting events, panels, and meet-ups for up-and-comers.
Those of us who’ve been around for a while might remember when Dumbo was chock full of creative workspaces like the ones at 47 Hall Street, a commercial building between Flushing Avenue and the BQE, that’s in contract to be sold for upwards of $160,000,000. (more…)
In the 1950s, Dumbo smelled like chocolate. “This neighborhood always smelled edible,” longtime Farragut Houses resident Anita Ravenell told WNYC, as part of the radio network’s series on segregation in Brooklyn. (more…)
MNS, the Brooklyn real estate firm published their September 2015 Brooklyn Rental Market Report last week (along with their Manhattan Rental Market Report). The report notes that average rents across Brooklyn decreased by 0.18% from $2,748.87 in August 2015 to $2,743.83 in September 2015. Over the past 12 months, Brooklyn rents are up 1.53%, from $2,702.59 in September 2014 to $2,743.83 in September 2015.
The largest percentage increase in average prices was seen in one bedroom units in Prospect Lefferts Garden, which grew by 6.84%, due to a relatively higher priced unit at 393 Lefferts Ave entering the market, coupled with a sample size under 10 units. Greenpoint Studios saw the highest decline of 8.91% since the previous month, caused by the sample reacting to a higher priced loft apartment at 738 Leonard St leaving the market.
Williamsburg and DUMBO saw the largest annual upward and downward shifts in rent prices. Williamsburg average rent grew immensely by 10.7%, from the average rent of $3,204 in September 2014 to $2,547 in September 2015. DUMBO experienced a decline in average rent of 3.77%, from $4,422.00 in September 2014 to $4,255 in September 2015. (more…)
MNS, the Brooklyn real estate firm published their July 2015 Brooklyn Rental Market Report last week (along with their Manhattan Rental Market Report). The report notes that average rents across Brooklyn increased by 0.74% from $2,710.02 June 2015 to $2,730.18 in July 2015. Over the past 12 months, Brooklyn rents are up 2.25%, from $$2,670.21 in July 2014 to $2,730.18 in July 2015.
The largest percentage increase in average prices was seen in Studio units in Williamsburg, which grew by 9.52%, again led by the new luxury building at 1 N 4th Place. The largest percentage decrease was seen in Studio units in Clinton Hill which decreased by 5.35%. This neighborhood also had one of the smallest studio sample sizes, making fluctuations in prices more sensitive relative to other areas.
The largest annual upward and downward shifts in rent prices were seen in Boerum Hill and Crown Heights. Rent increased by 9.4% in Boerum Hill from an average rent of $2,773.29 in July 2014 to $3,033 in July 2015. Crown Heights declined by 11.1% – from $2,110.39 in July 2014 to $1,876 in July 2015. Again, these neighborhoods consistently see smaller sample sizes so changes can be interpreted as moderately artificial. (more…)