If you’re preparing to sell your Dumbo real estate or Dumbo condos, you’ve definitely picked the right time to list your property in the New York market. Despite a downturn in national real estate markets, the New York market remains strong, and Dumbo is a prime example of this. This charming neighborhood is known for its cobbled streets and nostalgic manufacturing buildings, now converted into stylish and trendy lodging and high-tech office space.
The area known as Dumbo is bound by Hudson Street, Fulton Street, Prospect Street, John Street and the East River. The name was derived from the following acronym: “down under the Manhattan Bridge overpass.” Ongoing revitalization efforts include remarkable transformations from turn of the century office buildings into luxurious condominiums and gorgeous office spaces, making Dumbo condos a hot commodity. Everywhere you turn, beautification is in progress, yet prices are still relatively affordable by New York standards. Dumbo real estate features one-bedroom homes, lofts, apartments, and of course, exquisite Dumbo condos.
Back in 1979, a savvy David Walantas worked a deal with real estate tycoon Harry Helmsley purchased most of the 12-square block section of Brooklyn that is today known as Dumbo. For a mere $12 million, Walantas scored a prime 2-million square foot section of New York, of which he envisioned a thriving neighborhood. And thriving certainly describes the neighborhood today. With diligent efforts from Walantas, this former manufacturing zone has been transformed into a high-demand real estate market, with Dumbo condos increasing steadily in value.
Today, Dumbo attracts scores of people in the computer industry, as well as high-tech companies and design studios. Families are also taking note of all that Dumbo real estate has to offer, with plans for a children’s playground nearby in Brooklyn Bridge Park and easy access to the A, C and F lines. Not to mention, Dumbo is also home to a 24-hour organic grocery store and a tranquil setting, making it ideal for busy creative types and families alike.
Dumbo real estate is considered prime in the Brooklyn market, with a rapidly diminishing number of inexpensive artist’s lofts and live/work studio spaces. Multi-million dollar Dumbo condos and other forms of Dumbo real estate are sweeping the market. The neighborhood even features its very own Starbucks and a critically-acclaimed off-Broadway theater. What’s more, the neighborhood features a gym where actor Robert DeNiro trained for the film “Raging Bull,” as well as a number of art galleries and reputable furniture manufacturers.
Dumbo real estate is appealing for many reasons, not the least of which is its remarkable diversity and inherent potential.
If you’re selling Dumbo condos, don’t expect the property to remain on the market for long – new residents are hungry to get into this emerging neighborhood while they can, and it is most definitely a seller’s market. The Dumbo Improvement District is taking steps to manage the rapid growth that stems from increased interest in Dumbo real estate. Picturesque views, a tranquil setting, and remarkable properties are all part of what make Dumbo real estate so alluring.
Still wondering whether or not to sell your Dumbo real estate or Dumbo condo? Call the real estate experts at Sellers’ Realty Group for more information about current market trends. We’ll assist you in listing your property for sale, staging your condo to attract serious buyers, and negotiating for top dollar on the sale of your Dumbo condo. To learn more about selling your Dumbo real estate, contact the professionals of Sellers’ Realty Group today at 212-482-0000 for Manhattan or 718-937-7900 for Brooklyn and Queens. We’ll help you get top dollar for your Dumbo condos.
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