DUMBO—short for Down Under the Manhattan Bridge Overpass—has transformed from a gritty industrial waterfront into perhaps what is Brooklyn’s most coveted residential enclave. Conceived from a single real estate development made by one man in 1979, DUMBO as we know it is the brainchild of David Walentas, who borrowed $12 million to buy what was then known as Fulton Landing -a devolving industrial district but containing a thriving avant-garde arts scene. Since then, Walentas has founded Two-Trees Management, redeveloped a majority of the lofts in the neighborhood, and over 40 years later that deal has made him a billionaire.
A relatively small neighborhood of only about 20 square blocks, DUMBO is bordered by the Brooklyn Bridge and Brooklyn Heights to the west, the East River to the north, The Brooklyn Navy Yard to the east, and the BQE and Downtown Brooklyn to the south. The East River Ferry also stops at the pier in DUMBO, which is a great ride up to Queens, over to Manhattan, or down to Rockaway Beach in South Brooklyn.
Over the past ten years, DUMBO has become the epicenter of tech startup expansion in New York City. A full 30% of New York’s tech startups are headquartered in DUMBO, most notably Etsy, WeWork, and Amplify. But there are hundreds. It’s also made it’s mark on pop-culture, having been featured in episodes of Gossip Girl, High Maintenance, and Beyonce’s visual album Lemonade. St Ann’s Warehouse serves more high-minded fare, hosting productions of Shakespeare, Chekhov, and Tennessee Williams from some of the US and Europe’s most iconic national theatres.
