So…a 2,700-square-foot four-story townhouse with a garden and a roof deck, in a cool Dumbo factory loft complex with condo perks like a gym and cold storage? It sounds like the best of all possible worlds to us. And while the $3.95 million price on this “resplendent mix of modern and industrial charm” at 37 Bridge street might be no small sum by any stretch, you’re certainly getting the bonus of not having to choose between location, space, or convenience.
134 years ago, the opening of the Brooklyn Bridge transformed the Brooklyn waterfront, not to mention the entire borough, by providing direct access into Kings County from Lower Manhattan. The opening only boosted Brooklyn’s burgeoning waterfront, which became a bustling shipping hub for the New York Dock Company by the early 1900s. Business boomed for several decades until changes in the industry pushed the shipping industry from Brooklyn to New Jersey. And after the late 1950s, when many of the warehouses were demolished to make way for construction of the Brooklyn-Queens Expressway, the waterfront fell into severe decline.
New Yorkers today are living through a new kind of Brooklyn waterfront boom, heralded by the Brooklyn Bridge Park. Ideas to transform the abandoned, run-down waterfront into a park seemed like a pipe dream when the idea was floated in the 1980s, but years of dedication by the local community and politicians turned the vision into reality. Today, the park is considered one of the best in the city.
And just like that, the record for the most expensive condo ever sold in Brooklyn has been broken. A triplex penthouse at 1 Main Street, atop the Clock Tower building in Dumbo, sold for $15 million, beating out a unit at Brooklyn Bridge Park’s Pierhouse that closed for nearly $10.6 million just last month. As the New York Post reported, the historic unit had a hard time finding a buyer; it sat on the market for nearly six years, switched brokerages and chopping its price tag several times.
Architecture firm Bjarke Ingels Group (BIG) has just added heft to the big-name design, media and technology shift that has been setting up shop in Brooklyn. BIG, founded by noted Danish architect–and DUMBO resident–Bjarke Ingels, just signed a lease for 50,000 square feet at Two Trees’ 45 Main Street building in the Brooklyn waterfront neighborhood, with plans to relocate their Manhattan office at 61 Broadway to the new space, which is twice the size of the company’s current NYC headquarters. As 6sqft previously reported, Ingels purchased a $4 million penthouse home at 205 Water Street with views of 2 World Trade Center back in 2015.
Back in 2012, Megalith Capital Management and Urban Realty Partners bought two neighboring DUMBO sites from the Jehovah’s Witnesses for more than $30 million. They then tapped Aufgang Architects to design both warehouse conversions: a landmarked former Brillo factory at 200 Water Street was transformed into 15 boutique condos; 181 Front Street into a 105-unit rental. Twenty percent of apartments in the latter development are reserved as affordable, and as of tomorrow, New Yorkers earning 60 percent of the area median income can apply for these 21 units, which range from $895/month one-bedrooms to $1,247/month three-bedrooms.
Brooklyn Bridge Park is the last place we’d expect to find a menacing art installation summoning feelings of nothingness. But come May, Anish Kapoor will bring his acclaimed installation “Descension” to one of the park’s busiest stretches, Pier 1. As described by The NY Public Art Fund (the project’s curator), Descension is a 26-foot diameter whirlpool that funnels pitch-black, naturally dyed water below ground, inviting visitors to carefully peer into its swirling abyss.
It’s been eight months since ODA Architecture received its final approvals from the Landmarks Preservation Commission to convert the former Arbuckle Brothers sugar refinery building in Dumbo into a modern retail and office site. We’ve previously seen renderings of 10 Jay Street‘s prismatic East River-facing elevation–which was inspired by sugar crystals, the nearby Manhattan Bridge, and the neighborhood’s historic steel and brick facades–and now that the rehab is in full swing, CityRealty noticed that the leasing team has debuted a new website with never-before-seen renderings of the brick east wall, adjoining waterfront plaza, retail space, and offices.
Conceptual massing of 85 Jay Street based on approved zoning, via CityRealty
Despite the fact that Trump son-in-law Jared Kushner stepped down as CEO of Kushner Companies in order to transition from developer to full-time presidential advisor, his family’s firm is moving ahead with their big plans at a three-acre parking lot in DUMBO. Just over a month ago, the joint partnership among Kushner, LIVWRK, and CIM Group paid $345 million to the Jehovah’s Witnesses for the site at 85 Jay Street, which brought Kushner’s total investment in the area to more than $1 billion. CityRealty recently visited the site and found that they’ve ceased parking operations and moved construction equipment onsite.
Last summer, the Landmark Preservation Commission approved ODA Architecture‘s sugar crystal-inspired vision for a DUMBO commercial loft building at 10 Jay Street. Today the team went back before the LPC and received approvals to replace the building’s deteriorated east wall that has been covered in stucco since the 1970s and is in dire need of structural repair. Developer Glacier Global Partners previously fancied condos for the 19th century sugar factory building, but the robust Brooklyn office market led the developers to a change of heart, envisioning 200,000 square feet of class-A office space instead.
Within Downtown Brooklyn‘s detached island of urbanity between the Manhattan Bridge on-ramp and the Brooklyn-Queens Expressway, local architecture firm StudiosC has designed a modestly scaled, ground-up condominium at the corner of Bridge and Nassau Streets. Re-approved plans filed by the architect of record Karl Fischer detail an eight-story building with 12,000 square feet of gross floor area.