Don’t believe the hype: Sheepshead Bay may be home to a 30-story apartment tower but it’s not anywhere near becoming a place young buyers and renters will transform.

Stories touting a boom that make the neighborhood more of a draw for new residents have not been borne out, real-estate agents and brokers say.

“There’s the siren song of the hipsters,” said Louis Calemine of Calemine & Co. Real Estate in Gravesend, who grew up in Sheepshead Bay. “They just want it so bad, they’re trying to will it to happen. It’s not happening.”