Renderings courtesy of March Made
A penthouse in Dumbo has sold for $17,500,000, becoming the neighborhood’s priciest sale on record. The four-bedroom penthouse sits atop the new 33-story waterfront development Olympia Dumbo, which was recently crowned 6sqft’s Building of the Year. At $4,102 per square foot, the deal also marks the most expensive condominium sponsor sale concerning price per square foot in Brooklyn.
Photo on left courtesy of Pavel Bendov; Renderings courtesy of Marchmade
The votes have been counted. 6sqft’s 2022 Building of the Year is Olympia Dumbo, the new 33-story condo tower on the Brooklyn waterfront. The Hill West Architects-designed project sailed over the competition, receiving 779 votes, or 26.8 percent of the 2,903 total votes cast. Developed by Fortis Property Group, Olympia Dumbo contains 76 residences and offers 38,000 square feet of indoor and outdoor amenities that put health and wellness at the forefront.
Following a year of records, rebounds, and recovery, the real estate industry in New York City went for a roller coaster ride in 2022. And while the luxury market is always shifting, it’s never boring. This year, we saw the resumption of projects brought to a stop by the pandemic, sales finally launching at the skyline’s newest darlings, and some of the city’s most creative architecture in years taking shape.
6sqft’s picks are down to 14 of the most notable residential projects this year. Which do you think deserves the 2022 Building of the Year title? Polls for our eighth annual competition will remain open through 12 p.m. on Wednesday, December 28. A winner will be announced on Thursday, December 29. Happy voting!
All renderings courtesy of Marchmade
Brooklyn Nets point guard Ben Simmons is moving closer to the Barclays Center. The basketball star has entered contract for a combined two-unit apartment at Olympia Dumbo, a new 33-story residential development next to the Brooklyn Bridge. The apartment was listed for $13 million, as the New York Post reported, but the purchase price won’t be known until Simmons closes. While the Australian-born NBA star did not play in a single Nets game last season due to an injury, his new home in Dumbo is less than 15 minutes away from the team’s home court.
Photo credit: Caroline Culler via Wikimedia cc
Brooklyn’s 25-block Dumbo neighborhood gets its name from where it can be found: Down Under the Manhattan Bridge Overpass, which explains not only the neighborhood’s location, but its cultural and residential evolution. The waterfront district’s iconic East River and Manhattan views and its stunning bridge-framed architectural vistas have defined it long before its current acronym and status as a coveted residential choice. Unlike many other Brooklyn neighborhoods, the area it occupies is quite small, but its architecture, infrastructure, and economic status are formidable.
Image credit: March
Asking $19.5 million, this just-listed penthouse at new condo tower Olympia Dumbo is currently Brooklyn’s most expensive listing. If the five-bedroom condo at 30 Front Street fetches the asking price, it will be among the borough’s most expensive sales ever. The record for Brooklyn’s priciest property sale currently belongs to the Brooklyn Heights townhouse at 8 Montague Terrace which sold for $25.5 million last year, followed by a $20.3 million Quay Tower penthouse on the Brooklyn Heights waterfront. The new listing also brings the big-ticket crown to Dumbo.
After New York City’s construction and real estate industries ground to a halt last year because of the pandemic, 2021 saw a flurry of activity, thanks to the arrival of the coronavirus vaccine and federal funding for states and cities. This year, we saw positive signs that the road to recovery for New York real estate has started. More apartments sold in Manhattan in the third quarter of 2021 than at any point during the last 30 years. Brooklyn gained its first supertall. The priciest private development ever built in the Bronx opened. Records were broken, set, and broken again.
As the city adapts to a new normal, so do residential projects. Amenities now focus on health and wellness, like stunning sky-high pools, curated fitness centers, and landscaped outdoor space. With work-from-home culture likely not going anywhere, developers offer designer-crafted co-working spaces, libraries, and lounges.
Our picks are down to 16 of the most notable residential projects this year. Which do you think deserves 6sqft’s title of 2021 Building of the Year? Polls for our seventh annual competition will remain open through midnight on Sunday, December 26. A winner will be announced on Monday, December 27. Happy voting!
Renderings courtesy of Marchmade
The curvy, twisting tower rising in Dumbo launched sales this week, with condos starting at $1.75 million. Developed by Fortis Property Group and designed by Hill West Architects, Olympia Dumbo contains 76 residences ranging from one- to five-bedroom apartments. According to a spokesperson for the project, the building’s top-floor penthouses, which will list for $16 million and $15.5 million, could become the neighborhood’s most expensive condos ever sold if they sell at the asking prices.
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