DUMBO Prices Going Down?

I would not risk purchasing in DUMBO, Red Hook and other formerly trendy fringe areas right now. Your friend is incorrect (or perhaps delusional) in my opinion--I think these and other neighborhoods that lack sufficient infrastructure will be hit hard as the downturn continues. Once-thriving stores and restaurants will close and the neighborhoods will falter.

Again, just my humble opinion.

"Guy that lives there argued that DUMBO will fare better than Manhattan."

Location, location, location. You want to live under a bridge?

I'm with squid on this - no way DUMBO or any other outer boro neighborhood outperforms prime Manhattan.

Ask yourself where would you prefer to live. That's the answer. I pick prime manhattan. But Dumbo is small and should hold it's value better than areas like Red Hook.

Yeah, and the problem with DUMBO being small is that there are less comps right now. Does anyone have sales figures to help me see where the market is going?

stevejhx---(under a bridge).dumbo is much more than you're derogatory words imply.why are you so willfull mean?

> Location, location, location. You want to live under a bridge?

Yes, better fire island.

"I'm with squid on this - no way DUMBO or any other outer boro neighborhood outperforms prime Manhattan."

I think they already have. They might take a little more/little less of a hit than the Manhattan market... but you're talking about some neighborhoods that outpaced Manhattan growth for years.

Some of these neighborhoods were 1/5th manhattan prices. So even if they fall to 1/2 or 1/3rd, they will have still outperformed.