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Dumbo Market is Still Blazing (For Now)

Sure, we have fun tossing darts at Dumbo projects like 85 Adams or noting PriceChops in the nabe and environs. But DumboNYC did some homework and found that Dumbo prices are still sky high. The blogger checked Dumbo listing at Douglas Elliman, Corcoran, Halstead, and Brown Harris Stevens and found 57 condos on the market with an average asking price of $1,116,541, a median price of $1,000,000 and an average price per square foot of $801.95:

In other words, Dumbo is expensive. The real estate brokers I talk to say that although condos stay on the market longer these days, Dumbo is still selling at asking prices and should continue to increase in value. But I wonder how well the values will hold with more inventory - condos nearing completion (such as J Condo or Beacon Tower) and investors trying to flip property.Good questions, those.
· Will Dumbo Real Estate Continue to Rise in 2006? [DumboNYC]
· Curbed PriceChopper: Virtually All of 99 Gold [Curbed]