This blog is an update to an October 18, 2021 blog about the new condo tower in Dumbo, Olympia Dumbo.
Well, as initially predicted, the numbers don't lie, a record breaker is in the making for Brooklyn's most expensive condo tower.
Developer Fortis Property Group's Olympia Dumbo located at 30 Front Street, while still under construction, so far this year, 18 of this spectacular building's 76 units have gone into contract. The average asking price per square foot is $2,458 or $400 more per square foot than apartments in the pricey Brooklyn Heights, Quay Tower located at 50 Bridge Park Drive, overlooking Brooklyn Bridge Park and Downtown Manhattan on the waterfront.
In 2021 Quay Tower set a record with the sale of a 3,553 square foot penthouse apartment for $10M.
The 18 units in contract at Olympia Dumbo add up to approximately $121M. The projected sellout of the building is $375M, not including the 2 floor through penthouse units priced at $15M each or $3,000 per square foot.
The current crown holder for Dumbo's most expensive condo unit is the 3,068 square foot penthouse at the 21 story Front & York condo building which sold for $16M in November.
To be continued...
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