As Dumbo, a hip and rather expensive Brooklyn neighborhood, prepares to welcome a new wave of condos, rental buildings and offices, BARNES New York gives you a quick overview.
New York is used to reinventing its neighborhoods; but the changes already made over the past 5 years, and underway in Dumbo, have propelled the neighborhood into another dimension.
Indeed, when New York artists began to flock to post-industrial Brooklyn of the 1970s, they discovered many abandoned warehouses with sweeping views of Manhattan. Today, those same abandoned streets are full of start-ups, hotels, trendy restaurants and luxury boutiques, while the roofs of old factories have been converted into rooftops with swimming pools, bars and restaurants.
Since the opening of the Empires Stores in 2016 (a transformed warehouse that includes a large selection of restaurants as well as a shopping center), Dumbo’s popularity has exploded. Soho House, a chain of hotels with a worldwide presence and access to a private club reserved for its members only, has opened its latest project “Dumbo House” in the same Empire Stores building. Other world-famous establishments, such as the Cecconi’s or Sugarcane restaurants, have also opened their doors nearby. Just a few blocks away is 1 Hotel Brooklyn Bridge, a luxury eco-hotel that houses the upscale Osprey Restaurant. All of these recent commercial projects have made Dumbo an attractive area for residents and visitors. Mechanically, the developers have invested and continue to invest heavily in the neighborhood, building on the success of recent years.
BARNES New York presents recent and upcoming projects in the Dumbo district:
98 Front Street
Condominium currently under construction, and slated for delivery in Spring 2020, 98 Front offers a variety of 165 apartments, spread over 10 floors, from studios starting at $ 700,000, to 3-bedrooms starting at $ 1,855,000. All with a very nice “amenity” offer, including swimming pool, spa, rooftop, …
Front & York
Mixed complex made up of a rental property on the one hand, and condominiums on the other; the whole to total around 800 units, with splendid common areas spread over the entire program. Life Fitness has just signed a lease for the fitness offering. 1-BRs start just under $ 1 million; and the 3-BRs from $ 2.5M. Public sales have just started.
10 Jay Street
Red brick and glass facade, 10 Jay Street was delivered last year. Originally designed for condos, 10 Jay Street was converted into an office building during construction. Indeed, a strong demand for workspaces has emerged in recent years in Dumbo, especially by start-ups that are leaving the chaos of Manhattan for the tranquility of Dumbo.
181 Front Street
Rental building open since 2018.; it has 12 floors and 105 units. Although it is near capacity, there are still units available: 1-BR starting at $ 3,850, 2-BR and 3-BR over $ 6,000 / month.
1 John Street
Since opening 1 John Street in 2016, purchase and rental prices in Dumbo have skyrocketed. This 42-unit micro-project had sold all of its apartments as soon as it opened. Today, you can find a few rentals and units for sale (notably a 1,500 sqft. 2-BR for $ 3M).
Pierhouse at Brooklyn Bridge Park
The first structure to overlook Brooklyn Bridge Park, built in 2015, was very successful due to the combination of a hotel program (1 Hotel) and a range of condominiums. All of this obviously in direct contact with the East River.
168 Plymouth Street
And for a charming option, why not turn to these old paint factories turned into condominiums. Delivered in 2020, 168 Plymouth Street is a conversion of a now landmarked building; it offers forty options over five floors with very reasonable prices ($ 1,300 + / sqft.).
Dumbo is undoubtedly one of the most buoyant neighborhoods in Brooklyn today, and is even becoming one of the most desirable in New York City. Benefit from the excellent knowledge of BARNES New York, and all the more so to guide you in the constantly changing offer of New Developments.
Whether you are new to New York or a longtime resident, searching for the best neighborhood to live in in Brooklyn is both an exciting and demanding exercise. With a more relaxed pace of life than Manhattan, thanks to its many parks, greater security, and a general feeling of calm, Brooklyn is very popular with expats, families, but also young professionals for its trendy side. With the growing attractiveness of this “borough”, many micro-neighborhoods have developed there. Here is a short guide to some of them, favorites of the French in Brooklyn, according to BARNES – Luxury Real Estate Agency for more than 10 years. This will help you find the neighborhood that suits you best.
The trendiest neighborhoods
These Brooklyn neighborhoods are very attractive to young professionals thanks to their diversity, dynamism and accessibility. They include a large number of bars, restaurants, museums and art galleries.
Williamsburg
It is undoubtedly the Brooklyn neighborhood that has experienced the most upheaval in the past 15 years. Williamsburg is Brooklyn’s pioneer neighborhood, showing its living potential and real estate value.
Connected to Manhattan by the L Line (which ultimately won’t close after years of doubt), the first stop after the East River is in the heart of Williamsburg. The neighborhood is thus ideally placed and offers a remarkable compromise: comfort, luxury and proximity to Manhattan, while remaining in the relaxed atmosphere of Brooklyn. It is easy to travel between the two boroughs, whether by metro, ferry, or bicycle. Williamsburg has a rich cultural and artistic heritage with upscale restaurants and art galleries.
The popularity of the neighborhood has necessarily been accompanied by a rise in prices. Today it is one of the most expensive neighborhoods in New York City. However, the work in progress on the L line, which could complicate journeys a bit, has tempered this increase for a time. Yann Rousseau, deputy director of Barnes New York indicates that “the announcement of the shutdown of Line L in 2015 caused a drop in real estate prices, both residential and commercial, and many businesses have closed their doors. When two months before the closure scheduled for April 2019, the Governor gave up this measure so devastating for the neighborhood, real estate immediately changed its trend and it is now again attractive to invest ”.
Dumbo
Dumbo, acronym for “Down Under the Manhattan Bridge Overpass”, has been very popular for years both for its proximity to Manhattan and for the views of its skyscrapers. Now one of the most desirable neighborhoods, Dumbo has welcomed New Yorkers who abandoned their apartments in SoHo and Tribeca for lofts, cobblestone streets, and some quiet. Very trendy district with upscale restaurants, it invites young workers and families. Many French parents have made their home in Dumbo, among others for its nursery school (The Language and Laughter Studio) which offers lessons in French. The neighborhood is also very pleasant for children thanks to the many green spaces and other attractions.
The most “family-friendly” neighborhoods
Greenery, parks, attractions, schools… These criteria are very important for French families (and others) in New York. You don’t have to choose between a great family life or the buzz of New York City because today it is possible to have the best of both worlds in these Brooklyn neighborhoods!
Carroll Gardens
A lively neighborhood with a wide choice of shops, restaurants and bars, Carroll Gardens offers a particularly French flavor to Brooklyn. It is also a district rich in history, which retains its brownstone style with brown stone townhouses, authentic European pastry shops, as well as numerous parks and green spaces. These qualities make the neighborhood an ideal place to raise children in a French environment, in particular thanks to its multiple teaching options in French: the private bilingual International School of Brooklyn and the public school PS58 The Carroll School which offers a French bilingual program. If you are looking for a private garden, this is the area of choice, with its offer of brownstones, buildings often divided into luxury apartments but sometimes kept as detached houses. Moreover, “the French are largely responsible for the increase in the prices of goods located in the area of the PS58 school”, confides Christophe Bourreau, director of Barnes New York.
Park Slope
By Mikeruggy – Own work, CC BY-SA 4.0
“Park Slope is a neighborhood highly coveted by families for a multitude of reasons,” says Christophe Bourreau. “There is real diversity, family friendliness, quality parks… The district is also known for its culture and vitality”.
Indeed, many families are leaving Manhattan for the more pleasant life of Park Slope. It is famous for its pretty 19th and 20th century brown brick houses but also for its few modern buildings. “Townhouses”, “condos” and “co-ops” in well-preserved buildings characterize the neighborhood well. There is something for every taste ! Although the supply is limited and the demand for “townhouses” is high, there are many styles and prices to choose from for real estate in Park Slope.
Brooklyn Heights
This quiet and peaceful neighborhood in central Brooklyn owes its historic charm to its architecture and key location. It is the most exclusive area of the “borough”, enjoying a central position (close to Downtown Brooklyn), serene and residential streets, yet adjacent to the dynamic and well-connected main streets. Brooklyn Heights has been attracting new buyers for years, mainly young professionals and young couples looking to be close to schools, to live in a residential environment, or simply to invest in more spacious accommodation… It also remains a value safe haven investment in the long term, due to limited inventory and strong demand.
Neighborhoods to watch closely for investment
As Brooklyn’s popularity continues to rise, other neighborhoods are emerging and developing. Watch it today as long as the prices are affordable …
Greenpoint
At the northern tip of Brooklyn, above Williamsburg, is the charming neighborhood of Greenpoint. Once a bastion of the Polish community, it has retained its industrial aspect of the end of the 19th century, when factories, glassworks and construction sites were active. Greenpoint has taken advantage of these large spaces by modernizing them. Factories and other warehouses are stylishly transformed into modern and luxurious apartments that prompt celebrities such as Sarah Jessica Parker or Paul Giamatti to move in. The area’s real estate is very attractive at the moment as prices have not yet peaked in more central areas, and are notably much lower there than in Williamsburg. Indeed, Christophe Bourreau confirms that “real estate in Greenpoint has for years been watched by many investors because the gentrification process has already started”.
In addition, another public school with instruction in French is located there, PS110, The Monitor School. The bohemian yet refined atmosphere, art galleries, trendy bars and restaurants make Greenpoint a great option. “Its proximity to Long Island City (LIC), Williamsburg and Manhattan make it an area with great potential. Amazon’s announcement to move to Long Island City immediately resulted in Greenpoint’s prices rising. Amazon has changed its mind, but it won’t be long before other companies create similar moves, ”predicts Christophe Bourreau.
Bed-Stuy
Bedford-Stuyvesant, a district in vogue today, owes its evolution to the beauty of its alleys and its “brownstown” houses. Although the price of real estate there has already risen significantly in recent years, buying and renting in Bed-Stuy is still cheaper than in Manhattan or Dumbo. This pleasant district of Brooklyn charms its visitors with its houses with gardens or its buildings not exceeding three floors. New York City has designated Bed-Stuy as a Historic District, protecting over 800 buildings! Living in Bed-Stuy therefore means that you will be able to enjoy these views every day …
Bushwick
Credit: Nicholas Doyle – nsdoyle.com
An emerging neighborhood ideal for active city dwellers looking for a more lively, evolving, and relatively inexpensive neighborhood. One of the few neighborhoods still in transition, Bushwick is a source of inspiration for artists and writers. The neighborhood remained the same until the mid-1990s, when it has since become a hub for new entrepreneurs and startups. The neighborhood began to gain notoriety when artists and designers seized local real estate opportunities to create trendy lofts and studios. The streets of Bushwick are a veritable open-air museum dedicated to street art: it is one of the few places in the United States where crowds come to contemplate the walls! In addition, the parks add a lot of recreational value to Bushwick.
“People looking for the ‘real’ Brooklyn usually find what they are looking for in Bushwick,” says Feryel Cherait of the house Barnes.
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