“Olympia looks like a cruise ship. Meanwhile it’s literally positioned next to one of the greatest landmarks in all of the United States.”
“There’s so many new buildings it’s just one more icon of extravagance,” said Richard Mauro, who has lived in the area for 50 years and considers himself its unofficial historian. But still: The sheer price of Olympia has been a shock. “It’s ridiculous. The cost of it, the cost per square foot.
Agents in the neighborhood were hopeful that at least Olympia’s arrival might have a cumulative effect on the neighborhood — that it would pull blue-chip buyers out of Manhattan. “A lot of property owners were anticipating that because of the super-high price points” — the average sale price for a condo in Dumbo in the last quarter of 2022 was $1.
But mostly the feeling seems to be that that building is just — a little much. “It’s not grandma’s apartment,” said Gerard Splendore, a Coldwell Banker Warburg agent who’s lived and worked in the area since the 1980s. “It’s for people who want to show their wealth and have evidence they made it.” Still, to Splendore, those buyers are showcasing their bad taste. “It looks like a cruise ship that has 10,000 passengers on it, which to me is a lot of people’s idea of just living hell.
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