building at 70 Washington Street

Yes, but out of curiosity, which new developments are you talking about with similar views and with the same rock solid building construction of an industrial warehouse coversion?

There are no new developments in DUMBO. There are a few new projects in the pipeline on the Vinegar Hill side of the area, but none are online yet. From my experience, DUMBO buyers only want DUMBO. Sure, there are plenty of new developments in Williamsburg and downtown but to me that's like a Tribeca buyer looking at midtown. Totally different product/customer/price point.

I don't understand how "most of the units...require renovations of the floors, bathrooms, and kitchens." The place is about 5 years old! Who rented those apts. - a hockey team? The one's I have seen (and the one I bought last year) was MINT!

Mazz...the bathrooms kinda look outdated and the kitchens too...at least by my standards...sorry, no offense. nice bldg though, just don't think they r worth $1000/sf

jakedavid - maybe you want to look in 85 Adams? There's a 4th floor fsbo at $718/sf.
Tina Fallon
Realty Collective, LLC

Why is everyone unloading their apts in this building? Basically way overpriced 1 bedrooms with outdated kitchens and baths in the middle of the BQE

Tina, what do you think is the difference betweeb 85 Adams and 100 Jay? Is 70 Washington just overpriced? I'm also looking at Dumbo right now.

The awesome Manhattan skyline views might be a thing of the past if that parking lot next to the building is developed.

Very nice apts, but decided against buying here (at least for now). I think many of the sellers (those on the S/W side) are trying to get out before construction of the Dock St building/tower starts in July. What’s interesting is sellers continue to talk about the spectacular views that just won’t be there once construction is complete. Below is the current/future viewpoint from a lower apt on the H/I line....those closer to the water (J-O) will see much more of their view killed. Also, it’s a matter of time before something goes up in the adjacent parking lot (just some added uncertainty)…and I don’t think any apt on the S/W side is safe from that given 70 Washington is the last building in the DUMBO historic zone (meaning no limits on height outside of this). The tax abatement also starts phasing out in 3yrs….just a few things I learned during the due diligence process. All of this and mid-900s/sqft asking prices in Brooklyn spells overpriced to me.

http://3.bp.blogspot.com/_6YjsreT1Ru0/ScVHIavWVtI/AAAAAAAAAxE/SIaAlFm1J78/s1600-h/09032101BridgesMeldedWeb.jpg

http://cdn.brownstoner.com/brownstoner/archives/dock-street-dumbo-121808.jpg

Hi, did the building suffer any damage from Sandy?

No - building is fine I hear

I was one of the first buyers at 70 Washington. It's a beautiful building, and one of only a handful of the original Gair warehouses that form the core of DUMBO. It's far enough away from the water and at an incline so no worries about flooding (30 Main and 1 Main were flooded). I'm not sure what apartments seem to make those at 70 Washington appear outdated, but what I see are a lot of high-end newer places that basically have the same amenities (but try to find one with concrete ceilings where the concrete is molded into beams and planks, which is part of the charm of the original Gair buildings). I get that the apartments here are overpriced but, ah, last time I checked everything in DUMBO and NYC in general is overpriced. Besides, 70 Washington is probably the best, relatively affordable building in DUMBO, and there's not a lot of apartments available in the neighborhood to begin with. You're one-stop from Manhattan with the best subway lines in easy walking distance; you've got one of the most beautiful waterfront parks anywhere in NY, you don't have all the crappy label shops/chains like SoHo or the West Village, and you're in one of the most beautiful, historic areas anywhere (downside--it's like a movie lot half the time). I'm obviously partial, but I'm also someone who's lived in the building, and in DUMBO, for seven years.

Does anyone have any information on the York St. parking lot adjacent to the west side of this building? I'm interested in a unit (high floor) but concerned that the view will be blocked in time. How is it zoned? Does Walentas own this lot too? Appreciate any help. Thanks

You can use Property Shark to answer your question specifically, it will cost you a modest fee.

You should be aware that a parking lot doth not a protected view make. Parking lots are turning into condos all over the city.

Also I hate to throw a wet blanket on this because I too adore DUMBO, but that's in storm evac zone 4.

"I was one of the first buyers at 70 Washington. It's a beautiful building, and one of only a handful of the original Gair warehouses that form the core of DUMBO. It's far enough away from the water and at an incline so no worries about flooding (30 Main and 1 Main were flooded). I'm not sure what apartments seem to make those at 70 Washington appear outdated, but what I see are a lot of high-end newer places that basically have the same amenities (but try to find one with concrete ceilings where the concrete is molded into beams and planks, which is part of the charm of the original Gair buildings). I get that the apartments here are overpriced but, ah, last time I checked everything in DUMBO and NYC in general is overpriced. Besides, 70 Washington is probably the best, relatively affordable building in DUMBO, and there's not a lot of apartments available in the neighborhood to begin with. You're one-stop from Manhattan with the best subway lines in easy walking distance; you've got one of the most beautiful waterfront parks anywhere in NY, you don't have all the crappy label shops/chains like SoHo or the West Village, and you're in one of the most beautiful, historic areas anywhere (downside--it's like a movie lot half the time). I'm obviously partial, but I'm also someone who's lived in the building, and in DUMBO, for seven years."

I lived across the street for a few years... and you're not being objective (or accurate in some cases).

There are a bunch of Gair warehouses, making up a reasonably large percentage of the small number of buildings. Plus, 1 Main for sure and I'd also say 30 main are nicer buildings. Plus, there are a number of other buildings that could be coverted.

Construction is mediocre... and I say this as someone who lived in a building from the same management company, and saw the difference between actual high end and made to imitate high end. Thinner walls, shoddier construction. 70 Wash was built to be built fast and take advantage of a hot neighborhood at the time. And the apartments are also MUCH smaller compared to 80 wash, 1 main etc.

"70 Washington is probably the best, relatively affordable building in DUMBO"

translation... there is very good reason it costs less.

And, I'll add in... DUMBO looks nice, but it is a lousy neighborhood to live in. You're braggin about the lack of retail. It is relatively limited for day-to-day living (not sure how many times I want to furnish my apartment). After a while, just got boring.

Unlike much better neighborhoods in Brooklyn (Cobble Hill is one of my favorites, for example)... it is barely a neighborhood. Basically a half-step to the suburbs, folks with range rovers and 1/5 kids, on their way to suburban housing the year after.

Cobble Hill, Fort Green, Boerum, Carroll Gardens, would take 'em all in a second over dumbo.

rdh2106, TwoTrees bought the air rights of the lot immediately to the west. That's 50' wide and can't go taller than the building that's there already.

The big triangular parking lot to the west of that is owned by the Watchtower. They've been unloading their property, so you can expect that to be be developed.

DUMBO seems like a great place to rent.

why are maintenances so low?