Community spotlight: Dumbo, Brooklyn

Renowned Brooklyn stomping ground is a hipster's dream on a Wall Street budget
  • Dumbo, located on the waterfront of Northwest Brooklyn, is eclectic and high-end at the same time.
  • One-bedroom units in Dumbo charged an average $4,568 in July, compared to Brooklyn’s overall one-bedroom rent of $2,738.
  • The median sales price in the second quarter for Northwest Brooklyn reached $985,000.

Future-Proof: Navigate Threats, Seize Opportunities at ICNY 2018 | Jan 22-26 at the Marriott Marquis, Times Square, New York

Brooklyn Bridge Park Sunset / Flickr user dumbonyc Just 20 years ago, the section of Brooklyn coined Dumbo was little more than an isolated manufacturing neighborhood -- until local artists and young professionals saw potential and helped transform the neighborhood into the hip, exclusive market it is today. Filled with loft-style residences, boutiques, galleries and one-of-a-kind culinary experiences, Dumbo's (Down Under the Manhattan Bridge Overpass) name doesn’t sound glamorous, but it's well-situated between the Manhattan and Brooklyn bridges. Citi Bike kiosks, train stops or a five-minute ride from Manhattan on the East River Ferry puts you right in the heart of it all. As a creative and relatively small community, Dumbo’s rise to popularity pushed residential prices through the roof. Most expensive rentals in the borough Brooklyn Rental Market Report July 2016 / MNS Boutique real estate brokerage MNS ranked Dumbo as the most expensive Brooklyn neighborhood f...