(Not So) New Development: 57 Front Street
In Monday’s post on the condo glut, several readers took exception to our claim that Dumbo was relatively untouched by the same weakness that is hitting other areas around the city where large amounts of new supply has been coming on line. Of course, we’re not so naive as to think that all projects are…
In Monday’s post on the condo glut, several readers took exception to our claim that Dumbo was relatively untouched by the same weakness that is hitting other areas around the city where large amounts of new supply has been coming on line. Of course, we’re not so naive as to think that all projects are created equal. Obviously, some buildings are going to fare better than others as the balance of power shifts to buyers. We haven’t checked out the 57 Front Street in person yet but, judging from the rendering, this project looks like it may have a hard time standing out in an increasingly crowded Dumbo market. It’s neither an old-school loft building nor a particularly slick new building. One thing you don’t want to be in this market is bland. Maybe that’s why they are only asking $600 to $700 a foot, compared to many places in the nabe that are $1,000 and up. Does anyone know who the developer is?
57 Front Street [Corcoran] GMAP
People were uncomfortable buying here, especially because of the lawsuit and the long delay and unhappy people (who put down their deposits and then got them back well over a year later.
doesnt look like there are anymore in that price range, at least not on the corcoran website.
This development IS really old news, though. Didn’t units go on sale two years ago?
“…this project looks like it may have a hard time standing out in an increasingly crowded Dumbo market. It’s neither an old-school loft building nor a particularly slick new building.”
funny, that doesn’t sound like shilling to me. i guess some folks just like to hear themselves criticize. you da man, 1:18!
This is really old news. Brownstoner must have a friend at Corcoran. No reason this is important. Way to schill dude!
I thought the Walentas/Boymel arguement was another building…yes?, not this one.
I walk by it all the time; looks like people are living in in now.
Isn’t this development sort of old news? It was the subject of the whole lot-line window fight between Boymelgreen and Walentas.
Yeah, it’s just “eh.” But perhaps the lower prices will actually attract some people more quickly than a higher priced development. You never know.
Boymelgreen.