Brooklyn | October 2021
According to New York City Records, the median price for an apartment in Brooklyn in the month of October was $704,687. The price represents a 2.874% increase from last year’s median price of $685,000. The number of sales increased from 505 to 514, representing a year-over-year increase of just under 2%.
What exactly does $704,687 get you in Brooklyn? Let’s take a look.
Apartment 8-U at 98 Front Street is a two-room studio apartment in a newly minted luxury condo building in the heart of DUMBO.
98 Front Street is located at the southeast corner of Front Street and Adams Street in the shadow of the Manhattan Bridge. This spectacular modular building opened in 2020 and contains 165 apartments across 10 floors. Hope Street Capital teamed up with ODA Architecture and Craft Studio to develop the property.
The 400 square foot studio features 10-foot high polished concrete ceilings, custom oversized multi-pane sound attenuated windows, wide plank oak flooring, washer/dryer and a junction box for an overhead lighting fixture.
The sleek open kitchen offers custom Italian cabinetry, a corian counter and backsplash and a suite of Bosch stainless-steel appliances.
98 Front Street is flush with amenities that cater to wellness and serenity. There is a full-time concierge, a stunning double-height lobby, an indoor salt-water pool and spa, steam room, fitness room, residents lounge, co-working spaces, children’s playroom and garage. The piece de resistance is a 7,000 square foot roof deck that looks across Brooklyn in every direction. The deck includes multiple areas for private gatherings, three outdoor kitchens and an area for movie screening.
At $704,687 the closed price represents a per square foot mark of $1,762. Currently there are two studios available in the $650K-$740K range. According to city records, 63% of the building’s 165 units have sold to date.
Triumph Property Group is the exclusive marketing agent for 98 Front Street. To view more, please visit Linecity.