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Talk about turning water into wine. While skyrocketing prices in Dumbo have made it the priciest nabe in the borough to buy a condo, the market for rooftop space has also been climbing, reports The Daily News. When Two Trees Management decided to build 22 rooftop cabanas at 70 Washington Street and sell them separately from the apartments below, no one could have guessed that one of them would ultimately sell for $325,000, the price one recently traded for. In addition to the river views, buyers get ipe wood flooring a fence and, well, that’s about it.
Cabana Craze Hits the Roof [NY Daily News] GMAP


What's Your Take? Leave a Comment

  1. I looked at 70 Washington and have to admit that I was slightly intrigued by the cabanas, but I also naively thought they included some sort of small structure with plumbing and electricity.

    Private outdoor space is a real luxury in New York so that alone would have to make the price for these things worthwhile since no view is guaranteed. This is especially true in a neighborhood as small as Dumbo – where there is almost nowhere left to build but up.

  2. I wish all the people who are not native NY-ers who obviously have way too much money and love to throw it around would move somewhere else so the RE prices here would stop getting driven to ever more ridiculous highs.