building at 205 Water Street

This entire area is only going to get better with time and increase in value. The whole neighborhood is undergoing a transformation, on top of the fact that the central part of DUMBO is a designated historic preservation district and this is the last area waterfront area in Brooklyn left to be developed. More galleries, restaurants, shops and enterprises are moving into the area and for good reason. The City has zoned the entire NE area of DUMBO (extending to Vinegar Hill) for residential development and its only a matter of a short period of time before prices go through the roof. Do an analysis of price per square foot in this area compared to the other desirable/waterfront neighborhoods in the city and see for yourself. DUMBO is where its at.

As for cons, simply do your due diligence about the project and compare with other high end developments in the area. I think that the fly by night developments of the construction boom are over; consumers are more weary about not getting burned and I think developers (esp. a large publicly traded company like Toll Brothers) are more conscious about putting out a better product.

Keep in mind the subway noise and that the verizon facility is in front of you.

What's the address or intersection of the Verizon facility? The waterfront Con Edison plant needs to be redeveloped, and that could take decades.

Look on google maps...it's very low so you can see over it, but it's unattractive if the apartment has a view of it - chain metal fence surrounding whatever transformers etc, they have there. The verizon facility is along the waterfront/Front Street in front of Jay Street and extending North.

LOL!! HA! FIRSTLY, "The verizon facility is along the waterfront/Front Street in front of Jay Street and extending North." comment by mvbdc doesn't even make sense. Just look at the maps or better yet, just walk in the neighborhood. There is absolutely no Verizon facility in the Historic Preservation District of UDMBO where 205 Water is located! If MVBDC above is talking about the Verizon facility at 375 Pearl Street across the river in Manhttan, the building already has been sold to a developer and its going to be remodeled/given a facelift. So, that's negligible. SECONDLY, If MVBCD is talking about the Cond Ed regeneration plant located on the waterfront on John Street, Con Ed has alreeady confirmed that it will be dismantling the plant and THIRDLY, the City and the Bklyn Bridge Park Corp. have already planned to extend Brooklyn Bridge Park north/east of the Manhattan Bridge on top of and past the Con Ed site towards Vinegar Hill/Navy Yard - it certainly won't take decades as the plan is already in the works! FOURTHLY, plans are already also being developed for the Greenway, which is a park-like/green pedestrian/bike/car path along the water from Bklyn up along the river that will run, in part, on John Street in DUMBO. FIFTHLY, the subway noise from the Manhattan Bridge is virtually irrelevent relative to 205 Water's location not just because of the distance from the bridge but also because 205 Water has triple-paned, soundproof windows. SIXTHLY, Brooklyn Bridge Park is the confirmed site of a future resort/entertainment complex on the waterfront that will bring more business, more entertainment, more culture and more residents to the area - see the Wall Street Journal article from this past Wednesday.
Like I said before, people should do their own due diligence and simply walk the neighborhood. See for yourself that this neighborhood is where its at.

Will any of the units have Manhattan and/or bridge views? If so, which line/floor?

Is the proximity to Farragut house a problem? This is more of a DUMBO question rather then building specific.

See link to recent article which sheds some light on the Farragut Houses. Would be curious to hear from a Dumbo resident on this.

http://articles.nydailynews.com/2011-02-27/local/28651534_1_housing-project-median-income-major-crimes

Anyone check this place out lately? Opinions?

seems expensive