$32,500,000
Updated 11 years ago
Off Market

25 Jay Street

Dumbo, Brooklyn | Front Street & York Street

47,000 Square FeetIncome Property

$32,500,000
floors / apts5 / 29
Lot Size90'x150'
Built Size90'x150'
ZoneM1
Building TypeLoft
Price Per SF
$691

Building Amenities

  • Voice Intercom

Property Description for 25 Jay Street

The subject property is a recently improved five-story, 34-unit mixed-use building consisting of 5 commercial units, which are occupied by 2 retail tenants, and 29 residential units, of which 9 are Interim Multiple Dwelling (IMD) tenants and 20 are free-market units. The building is approximately 47,000 gross square feet or 40,000 net rentable square feet. The subject property may benefit from an additional 15,000+ square feet in additional air rights to the existing structure. The property is located in the heart of the highly sought-after neighborhood of DUMBO, on the Brooklyn Waterfront, overlooking Downtown Manhattan. The neighborhood is amidst a massive transformation with recent/future developments of the Brooklyn Bridge Park, the Brooklyn Tech Triangle, and Empire Stores, among a number of residential conversions.

Listing History for 25 Jay Street

Now
05/09/2014
POM by Stephen Palmese
Cushman & Wakefield
03/04/2014
$32,500,000
Initial Price by Stephen Palmese
Cushman & Wakefield

Building Details for 25 Jay Street

OwnershipIncome Property
Building TypeLoft
Service LevelVoice Intercom
AccessWalk-up
Year Built1920
Floors/Apts5/29
Learn More About the Building

Transit and Citi Bike

Subway

York St
0.18 miles
High St
0.39 miles

Citi Bike

Front St & Jay St
0.11 miles
Bridge St & Front St
0.12 miles

Ferry

Dumbo/Fulton Ferry
0.49 miles

Contact Agents

Contact Agents

Stephen Palmese
Cushman & Wakefield
Michael Mazzara
Cushman & Wakefield
Thomas Freeland
Cushman & Wakefield

Dumbo | Brooklyn

Quick Profile

DUMBO, which is an acronym for Down Under the Manhattan Bridge Overpass, used to be a lively industrial and manufacturing zone, full of large factories and warehouses. These buildings have now been converted into expansive lofts, theaters, galleries, and office spaces for start-up companies. These larger residential spaces are attractive to families and creative artists and writers who need space to dream and create. 

DUMBO was named in 1978 as a sort of reverse marketing ploy to try to keep people from swarming into the area, attracted by the quaint tree-lined streets, elegant historic brownstones, large lofts, and views of Lower Manhattan. It was felt that this influx of people would change the nature of the neighborhood. It was hoped that by giving the area a ridiculous name, nobody would want to live there.

Many of the neighborhood’s bars, hotels, and restaurants capitalize on the stunning waterfront views and the Manhattan skyline in the background. Interesting and fun cultural events are held under and around the Brooklyn and Manhattan Bridges that connect DUMBO to Manhattan. One of these is the annual Oktoberfest.

With beautiful vignettes of the Manhattan and Brooklyn Bridges being framed around every corner, DUMBO provides residents and tourists with charming, and often surprising, views. Because the neighborhood is eminently walkable and filled with unique shops, it feels like a small town on the edge of a major urban waterfront. Once people move to DUMBO, they tend to stay and become involved in the community.

All information furnished regarding property for sale, rental or financing is from sources deemed reliable, but no warranty or representation is made as to the accuracy thereof and same is submitted subject to errors, omissions, change of price, rental or other conditions, prior sale, lease or financing or withdrawal without notice. All dimensions are approximate. For exact dimensions, you must hire your own architect or engineer.
OLR ID: 53114TH