New DUMBO condominiums

How crazed is the condo market in DUMBO now? Well, the new Nexus building marketed by the Developers Group is having a 5-hour open house this Sunday. Not two or three hours - five hours.

Apparently 5 units have been snatched up using the 'best and final offer' process. They are releasing a few more this weekend. Units range from 729 square feet 1 bedrooms to 1071 square feet 2 bed, 2 baths with outdoor balconies. Prices range from $512K to $760K.

In a letter we got a hold of from one of the marketing agents, they said:

"The following will be released on Sunday at 11AM at the Sales office. It will be on a first come first serve basis, so arrive early if you are interested...To take a unit off the market, you have to write a check to The Developers Group for $100. There will be no bidding...You will then have to get a pre-qual letter" from the mortgage banker they have retained.