Apt A Go Go

Dumbo Brooklyn Real Estate Market Still Strong

From a recent read of blogs posted on local real estate websites, Dumbo’s real estate market is still strong. A blogger on Curbed.com wrote:

“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.”

What’s your view on Dumbo Brooklyn real estate? Is is still a good buy? How about rentals?