Hand-cut Belgian block paved streets, hulking antique metallic and brick bridge supports, gorgeous Victorian rust-red buildings, and sunsets skittering off the East River in kaleidoscopic amber and gold for a thousand Instagram photo ops. There’s a lot to love about DUMBO/Vinegar Hill. Even the constant rumble of subways passing overhead becomes background noise like a river raging through a distant canyon. Maybe that’s why the explosion of lavish new condos is resulting in some of the highest-priced real estate in the city.
Before we look at all the new developments transforming the neighborhood, first a little history. Dumbo is short for Down Under The Manhattan Bridge Overpass and, according to Wikipedia, “encompasses two sections: one located between the Manhattan and Brooklyn Bridges, which connect Brooklyn to Manhattan across the East River, and another that continues east from the Manhattan Bridge to the Vinegar Hill area.”
Originally a ferry landing filled with now transformed 19th and early 20th century warehouses, DUMBO was bought in its entirety in the 1990s by prescient developer David Walentas and his company Two Trees Management and so began the transformation into an upscale residential and commercial community you have today. Restaurants and art galleries were followed by artisanal eateries, high-priced clothiers, and more recently a deluge of tech start-ups.
It was only a matter of time before the developers came to town, and boy did they make an entrance, creating a new neighborhood of amenity-filled state-of-the-art condos that have not only raised the ceiling but blown the roof off the price per square foot in the area. However, it’s no good being one of the hottest neighborhoods in the city with Victorian pipes running under the ground. In has stepped The NYC Department of Design and Construction (DDC) to oversee a massive retooling of the neighborhood’s infrastructure. Ok, so onto those gleaming condos and how much they’ll cost you.
View from one of Olympia's private terraces, visualizations by marchmade
The Olympia Dumbo is a 33-story waterfront development comprising 76 one-to-five bedroom homes and over 38,000 square feet of indoor and outdoor amenities. It has more curves than a Coke bottle and condos starting at $1.75 million. With penthouses priced at $16 million and $15.5 million ($2300/sqft), the building is shattering the ceiling for price points in the neighborhood.
Front & York, 85 Jay Street, courtesy of cityrealty.com
Currently occupying many of the top spots in weekly Brooklyn sales reports, this mammoth 21 story, 728 unit (of which 400 are condos and the rest rentals) development is now finished and selling one-to-four bedroom homes for $965K to $7.85 million. Front and York has over 77,000 square feet of fitness-related amenities alone.
98 Front Street, courtesy of Compass
A funky Cubist design sets this development apart from all around it. Comprising 165 studio-to-three bedroom units over 11 stories, 98 Front Street has 100 unique condo designs with prices ranging from $685K to $3.9 million. Expect high-end finishes and tons of amenities including a 7,000 square foot roof deck with an exterior workout area, bocce court, outdoor kitchen, and grills along with an indoor fitness area and saltwater pool. The price points are considerably less than some of the other new developments in the area.
168 Plymouth Street, courtesy of Compass
If you like the idea of living in a classic Dumbo style warehouse turned boutique condominiums with tons of mod cons inside, the two converted prewar paint factories that combine to make 168 Plymouth could be right for you. They have all the high-end razzle-dazzle along with restored concrete beams and wall-sized factory windows. There are 46 one-to-four bedroom units in total spanning 9 floors with prices starting at $2 million and going up to $6.85 million.
82 John Street, rendering by Formactiv
If good things come in small packages, and you prefer something less overwhelming than a massive development with 100s of units, this modern 4 unit conversion of a previously nondescript commercial building at 82 John Street could be more your speed. Along with the 4 rentals, there will be basement-level office space and the convenience of the York Street subway station, 5 blocks away, and one-stop from Manhattan.
DUMBO Waterfront and Brooklyn Bridge Park, courtesy of Empire Stores
DUMBO is not only changing, it is completely transforming. Its proximity to Manhattan made it ripe for development and now the Brooklyn waterfront will hardly be recognizable from what it was. Along with the condos mentioned here, there will be plenty of rentals available at developments such as 69 Adams Street, which contains 255 units, and 251 Front Street (59 units). In conjunction, a new library 135 Plymouth Street (also known as 1-15 Adams Street) — a former factory dating back to 1891 — will add some much-needed intellectual stimulation amongst all the bricks and bluster of the new condos.
Jane's Carousel in Brooklyn Bridge Park in DUMBO, courtesy of Julienne Schaer
The expansion of the Brooklyn Bridge Park, approved in May 2020, will also provide a much-needed waterfront outlet for residents who refuse to stay inside their buildings all day. Catering to the tech explosion is a chic, state-of-the-art office building at 29 Jay Street.
If your idea of living in New York is being at the center of all the action, DUMBO is one of the best places to be. A hop, skip, and a jump away from Manhattan, it’s also a gateway to all the flair and flavor Brooklyn has to offer.