What's Happening?
A penthouse in the Olympia condominium at 30 Front Street in Dumbo, Brooklyn, which was featured in the 2025 movie 'Highest 2 Lowest' starring Denzel Washington, has been sold. The property, known for its panoramic views of the Manhattan skyline, entered into contract this week with a final asking price of $17.5 million. Originally listed at $19.5 million in 2022, the price was reduced by 10% before the sale. The penthouse occupies the entire 32nd floor, offering nearly 5,000 square feet of living space, including five bedrooms, a home office, and four-and-a-half baths. The building, developed by Fortis Property Group and designed by Hill West Architects, is the tallest in Dumbo, standing at 33 stories. The sale marks one of the highest price-per-square-foot
transactions in Brooklyn.
Why It's Important?
The sale of this penthouse highlights the ongoing demand for luxury real estate in Brooklyn, particularly in the Dumbo area, which has become a desirable location for high-end buyers. The transaction underscores the appeal of properties with unique features and cinematic connections, as seen with the penthouse's role in a major film. This sale also reflects broader trends in the real estate market, where properties with distinctive architectural designs and prime views command premium prices. The successful sale at a reduced price indicates a competitive market where pricing strategies are crucial for closing deals.
What's Next?
With the sale of this penthouse, attention may shift to other high-value properties in the area, potentially influencing future listings and pricing strategies. The success of this transaction could encourage developers to invest in similar luxury projects in Dumbo and other parts of Brooklyn. Additionally, the real estate market may see increased interest from buyers seeking properties with unique attributes and cultural significance, such as those featured in films or with historical importance.
