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Dumbo

Dumbo
Brooklyn, NY 11201
Retail, Residential, Sales, Leasing/Rental, Condo

Dumbo is a neighborhood in northern Brooklyn that takes its name from the portmanteau of the phrase Down Under the Manhattan Bridge Overpass. It is bounded by Hudson Avenue, Prospect Street, and the East River. Vinegar Hill is sometimes lumped into Dumbo. The neighborhood was formerly a manufacturing district with factories that made things like machinery, paper boxes, and Brillo soap pads. As manufacturing declined in New York City and across the United States, artists began to take over the derelict warehouses and factories in the 1970s. Developers followed in order to capitalize on the fashion for living in converted lofts. Developer David Walentas and his company Two Trees Development spearheaded the transformation of Dumbo into an in-demand residential enclave by assembling properties and land in the 1980s to redevelop into condominiums and rental buildings. Contemporary developments include One Main Street, 205 Water Street, and 220 Water Street, a rental conversion. Dumbo is a hub for tech firms, whose workers like working in loft-style office spaces. Since 2007, the neighborhood has been designated a historic district. -GB

  • Address Dumbo
  • neighborhood Dumbo
  • borough Brooklyn

07/10/2018
People who want brownstones generally start in Park Slope and then move outward into Windsor Terrace or Kensington, while people who want convenience focus on neighborhoods like Williamsburg and Dumbo...

06/01/2018
It’s happened in dozens of New York City neighborhoods from Soho to Dumbo to the Lower East Side and East Village...

03/29/2018
6 thanks to a pair of large projects in Crown Heights and Dumbo...

03/15/2018
New York's skyline has been filling up with one tower after another, and many of these projects are being designed by the top architecture firmsNew York's skyline has been filling up with one tower after another, and many of these projects are being designed by the top architecture firms...

12/29/2017
The architecture firm behind the largest new project started this year was Ohio-based Ford & Associates. The firm was hired by Matrix Development Group, which plansThe architecture firm behind the largest new project started this year was Ohio-based Ford & Associates. The firm was hired by Matrix Development Group, which plans...

12/29/2017
You should expect to see some giants rising in the outer boroughs over the next few years. A majority of the largest development projects startedYou should expect to see some giants rising in the outer boroughs over the next few years. A majority of the largest development projects started...

11/01/2017
From left: Renderings of 2128 Ocean Avenue and Brookland Capital's 4th Avenue Condos Brooklyn’s condominium market is still going strong. The state approved 525 new residential From left: Renderings of 2128 Ocean Avenue and Brookland Capital's 4th Avenue Condos Brooklyn’s condominium market is still going strong. The state approved 525 new residential...

10/31/2017
Clockwise from top left: Rending for the Long Island College Hospital redevelopment in Cobble Hill, 97 Columbia Heights and 55 Washington Street in Dumbo UPDATED, Clockwise from top left: Rending for the Long Island College Hospital redevelopment in Cobble Hill, 97 Columbia Heights and 55 Washington Street in Dumbo UPDATED,...

09/01/2017
At Two Trees, David Walentas remade Dumbo, transforming it from a world of old warehouses to one of Brooklyn’s priciest residential neighborhood today...

08/18/2017
Overall, Queens had four of the top 10 loans for the month, while the Bronx and Brooklyn each clocked in at three. Some of the other major loans for the outer boroughs included $146 million for an office-conversion in Dumbo and $98.5 million for condos in Long Island City...

07/01/2017
And while some developments â€' such as Midtown Equities, HK Organization and Rockwood Capital’s Dumbo office complex Empire Stores and Rudin Management and Boston Properties’ tech-focused Dock 72 at the Brooklyn Navy Yard â€' have seen success, others are facing the cold, hard truth of supply and demand in more untested office markets like Red Hook, Sunset  Park and Bushwick...

02/24/2017
Kliegerman dismissed the suggestion that a pullback in Manhattan will have a negative impact on business, and said the firms are aggressively courting exclusives in Brooklyn and that its acquisition of local firm Aguayo Realty in 2013 was paying off. He cited exclusives on 51 Jay Street in Dumbo, as well as Hope Street Capital and AEW Capital Management’s the Hendrik in Boerum Hill...

02/01/2017
Cushman emerged as the top dog in Brooklyn, Massey Knakal’s former stomping ground, with $1.1 billion in deals, including the Kushner Companies-led group’s $340 million purchase of the Watchtower building in Dumbo...

01/26/2017
Credit: MNS According to this week's market reports, FiDi saw the city's greatest rent increase in 2016, Dumbo and South Brooklyn led the borough in office Credit: MNS According to this week's market reports, FiDi saw the city's greatest rent increase in 2016, Dumbo and South Brooklyn led the borough in office...

11/11/2016
Left to right: MTA CEO Thomas F. Prendergast and Hudson Yards 7 train, Sheldon Solow and the Solow Building We're really starting to see where Left to right: MTA CEO Thomas F. Prendergast and Hudson Yards 7 train, Sheldon Solow and the Solow Building We're really starting to see where...

09/28/2016
The monthly ranking factored in closed sales of both full and partial stakes in properties. A partnership finally snapped up Dumbo’s Watchtower building and several multifamily portfolios in Brooklyn and Queens sold with enough zeros to make the list...

09/22/2016
From left: Coach CEO Victor Luis and a rendering of 10 Hudson Yards, WeWork CEO Adam Neumann and 12 East 49th Street Coach once owned From left: Coach CEO Victor Luis and a rendering of 10 Hudson Yards, WeWork CEO Adam Neumann and 12 East 49th Street Coach once owned...

12/30/2015
The Gelsey Kirkland Academy, founded in 2010 by the namesake dancer and choreographer husband Michael Chernov, left its 5,600-square-foot Tribeca studio in June for 20,000 square feet at 29 Jay Street in Dumbo, formerly home to the St...

12/01/2015
But even so, it’s only recently that four Brooklyn neighborhoods â€' Dumbo, Cobble Hill, Williamsburg and Downtown Brooklyn â€' have seen their rents surpass the Manhattan average, according to an October report from the listing website StreetEasy...

09/01/2015
Meanwhile, 1 John Street in Dumbo, 388 Bridge Street in Downtown Brooklyn, Pierhouse in Dumbo and 210 Pacific in Boerum Hill are all in the same general range...

01/13/2015
In neighborhoods like Williamsburg, Dumbo and Brooklyn Heights, smaller stores are getting creative to attract shoppers...

08/01/2014
Of those 2,300 units, permits have been filed for 1,071 units at the project. Those units are at 2 Grand, a 35-story tower with 658 units; 320 Kent, a 320-unit waterfront tower; and 262 Kent, a mixed-use tower with 93 units. In addition to the Domino project, the firm has also filed permits for 9 Front Street, a 289-unit rental in Dumbo, and 286 Ashland Place, a 381-unit tower in Downtown Brooklyn...

06/01/2014
Meanwhile, the Two Trees Farm, an equestrian estate owned by developer David Walentas of the Dumbo-based Two Trees Management Company, is an open listing that first went on the market in June 2010 asking $95 million...

03/01/2014
Prospective tenants hungry for the Midtown South creative vibe, but priced out of the area, are searching Downtown for cheaper alternatives. But some find Lower Manhattan lacking in the sought-after spirit, and instead are turning to Dumbo, said Dirk Hrobsky, managing director of the New York office of commercial brokerage DTZ...

11/01/2013
Sotheby’s has a reputation for dominating Dumbo, thanks to veteran agent Karen Heyman, who has been selling lofts there since the 1990s...