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Sales Check

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Construction of Dumbo's first townhouses has not even begun, and yet three of the five homes are already in contract. What's even more ridiculous (and telling of the craziness that is the Brooklyn townhouse market) is that as the houses have hit the market, each has been more expensive than the last, even though they are identical. The three in-contract houses asked $4.1 million, $4.3 million, and $4.5 million, and the fourth, located at 175 Water Street, has just hit the market for $4.95 million. The fifth house has a slightly different layout because it's on a street corner, so it will undoubtedly ask even more. [Brownstoner; previously]