Has become a much-visited tourist attraction in which real estate prices have soared.
Welcome to Dumbo
Dumbo used to be a quiet Brooklyn neighborhood, but its atmosphere has changed dramatically in recent years. An acronym for “down under the Manhattan Bridge overpass,” Dumbo now forms part of the Brooklyn Tech Triangle, and has become a much-visited tourist attraction in which real estate prices have soared. This beautiful waterfront neighborhood has consistently drawn both tourists and New Yorkers alike who are eager to get remarkable views of the Brooklyn Bridge and the Manhattan skyline. In recent years, developers in Dumbo have constructed scores of new luxury high-rises that have given more Manhattanites the opportunity to leave the hustle and bustle of the city and make this waterfront community their home. Along with these new towers and beautiful views, Dumbo is also home to an exciting art scene and many unique boutique shops, along with several world-famous eateries like The River Cafe and Juliana's. The Brooklyn Tech Triangle, which is formed by Dumbo, Downtown Brooklyn, and the Navy Yard, now houses around five hundred technology and creative companies who are expected to provide employment for about 36,000 people by 2020. It is one of Brooklyn’s fastest growing employment sectors, with tech firms offering a 57 increase in employment in the borough since 2009. With this many employees, the commuting traffic in the area is dense, as high real estate prices mean that most workers cannot afford to live in the neighborhood.
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