New Dumbo Condo Will Offer Luxury Living at a Lower Price

Written By Kristina Kennedy-Aguero | June 11, 2019 | Published in Real Estate Market Trends, Neighborhood News
2019%2f05%2f28%2f20%2f38%2f53%2ffc8224f1 b277 4981 9764 7e4aa70535da%2fdumbo bk 03

Dumbo used to be a quiet Brooklyn neighborhood, but its atmosphere has changed dramatically in recent years. An acronym for “down under the Manhattan Bridge overpass,” Dumbo now forms part of the Brooklyn Tech Triangle, and has become a much-visited tourist attraction in which real estate prices have soared.

The Brooklyn Tech Triangle, which is formed by Dumbo, Downtown Brooklyn, and the Navy Yard, now houses around five hundred technology and creative companies who are expected to provide employment for about 36,000 people by 2020. It is one of Brooklyn’s fastest growing employment sectors, with tech firms offering a 57 increase in employment in the borough since 2009. With this many employees, the commuting traffic in the area is dense, as high real estate prices mean that most workers cannot afford to live in the neighborhood.

Developer Hope Street Capital saw the gap in the market and are expecting to attract many of these employees to their Front Street development. The new, 165 mixed-unit condo will be offering apartments appealing to singles, couples, and small families with studios starting at $595,000 and one-bedrooms starting at $795,000. This is a significant reduction from the average $2 million price tag on a typical Dumbo condo. The building, which stands on 98 Front Street right next to the Brooklyn-Queens Expressway, will house mainly smaller residences with over 100 different layouts. There will also be a few larger homes with starting prices at $1.38 million for two-bedrooms, $1.85 million for three-bedrooms, and over $4 million for four-bedrooms. The building, which was designed by ODA New York, will be completed by the spring of next year and will be both eco-friendly and LEED certified.

Residences in the building are minimalistic, with 10-foot-high ceilings and tall 9-foot-high windows that are completely soundproofed against the noise from the BQE. Some apartments have balconies with views of the East River. All kitchens have Corian countertops, backsplashes with Bosch appliances installed, and Italian cabinetry with natural blonde wood accents.

Luxury amenities at 98 Front Street include an indoor saltwater pool, steam room, spa, and fully equipped fitness center. On the 7,000-square-foot rooftop terrace, there will be a bocce court, outdoor fitness area, three outdoor kitchens, and movie theater. A lounge and coworking space connect to the double-height ground-floor lobby via a peaceful courtyard garden complete with a reflecting pool. A keyless entry system will allow residents to enter using their mobile phones, and the building comes with high-speed wiring and a Butterfly MX intercom system. There is on-site parking, private storage units, a bike storage room, and a full-time doorman and concierge. In the surrounding neighborhood, there are many different dining, entertainment, and artistic options for residents to enjoy.

This is luxury living at a fraction of the price in a progressive and innovative neighborhood with lots to offer. Those interested in similar options in the surrounding Dumbo area can check out the Elegran sales page or Elegran rentals page.

Blog Archive


This information is not verified for authenticity or accuracy and is not guaranteed and may not reflect all real estate activity in the market. © 2021 REBNY Listing Service, Inc. All rights reserved. RLS IDX Data display by Elegran LLC. IDX information is provided exclusively for consumers’ personal, non- commercial use and that it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.

Elegran LLC may or may not be the exclusive listing agent of the properties being displayed on All data displayed on is presented for informational purposes only and should be independently confirmed by all customers. All Information is compiled from both public and private sources including, but not limited to the RLS, MLS and ACRIS; each of which is assumed to be reliable. All information displayed is subject to errors and omissions regarding apartment specifications and final sale prices, and further, any unit listed may have had its listing withdrawn without notice subsequent to such information being compiled. No representation is made as to the accuracy of any description (ie: listing, close sale data, and/or building description) of any building or individual unit. All measurements and square footage are approximate and all information herein should be confirmed by customer and/or their attorney. Elegran LLC, its members, affiliates, and contributors adhere to New Your City, New York State, and United States Fair Housing Laws.