Martin Nussbaum, principal at Slate Property Group, which along with Adam America, is developing 51 Jay Street, agrees that inventory in Dumbo is tight.
“I happen to think Dumbo specifically is one of those tighter markets, in terms of the ability to generate projects,” he said, noting that it’s size and zoning don’t allow for as many new developments. “I think the potential supply for long-term is pretty insignificant in comparison to demand.”
Read More: http://www.rew-online.com/2015/02/13/dumbo-seeing-a-slew-of-new-development/
The asking price is more than $2 million higher than that of the second home on the list. A four-bedroom penthouse condominium unit at the 53-story tower 388 Bridge in Downtown Brooklyn was listed for just shy of $6 million. Halstead Property’s Vanessa Connelly and Molly Bloom have the listing at what is currently Brooklyn’s tallest apartment building. – See more at: http://therealdeal.com/blog/2015/02/06/priciest-january-home-listings-in-brooklyn-queens/#sthash.jA5wWxYl.dpuf
Read More: http://therealdeal.com/blog/2015/02/06/priciest-january-home-listings-in-brooklyn-queens/
“A lot of these new developments are marketed toward sophisticated, well-to-do buyers, and those people may not want to be living with first-time homebuyers, who tend to be more transient,” said new development sales exec Robin Schneiderman of Halstead Property Development Marketing, who is marketing a new condo building with very limited studio inventory at 51 Jay St. in Dumbo.
Read More: http://www.nydailynews.com/life-style/real-estate/market-forces-driving-studio-apts-extinction-article-1.2104972
But it’s not all ground-up; 51 Jay Street in DUMBO is a 74-unit conversion, which last week launched sales with prices ranging $875,000 for a studio to $5.15 million for a four-bedroom penthouse.
Read More: http://nypost.com/2015/01/28/the-top-4-firms-designing-nyc/
DUMBO is one of the hottest neighborhoods, and according to The New York Post, is expected to be even better in 2015. We’re especially excited for all of the upcoming developments in the area, specifically 51 Jay Street.
Knives, forks, spoons, condos.
This word sequence makes sense if you’re talking about 51 Jay St.
Read More: http://www.brooklyneagle.com/articles/2014/11/5/forks-fancy-condos-51-jay-st-dumbo