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Josh Carter is a highly knowledgeable real estate professional, a native Brooklynite and an NYC real estate investor’s best friend. In his first quarter at Compass, Josh became the NYC buyer's best friend closing 6 condos and co-ops and exceeding each of his client's pricing and/or unit size expectations in each deal.
Here is an in-depth guide that breaks down what Dumbo has to offer:
Dumbo is an acronym for: "Down Under the Manhattan Bridge Overpass."
The neighborhood's name derives from its position on the East River, where the Manhattan and Brooklyn Bridges come together. It borders Brooklyn Heights and Downtown Brooklyn to the south, The East River to the north, Vinegar Hill to the east, and the two bridges to the west. Many parts of the neighborhood have views of New York City's skyline, which is used in various media.
Dumbo has developed a reputation among entrepreneurs and young professionals as a fantastic location for low-cost office space and proximity to Manhattan. In recent years, Dumbo has seen an influx of creative businesses, including web designers, app developers, and e-commerce merchants, earning it the moniker "the center of the Brooklyn Tech Triangle."
The neighborhood is an appealing option for New Yorkers looking for a mix of urban and suburban living. Although the community is quickly developing, Dumbo has all the charm of a small town, with its cobblestone streets and historic buildings.
The area now known as Dumbo was packed with warehouses, mills, and other commercial enterprises during the New York Industrial boom in the 1800s. The Jay Street Connecting Railroad ran through Dumbo and was utilized to move items between Brooklyn's waterfront and Manhattan, making it the heart of import and trade.
In 1883, when the Brooklyn Bridge was built, Dumbo began to flourish due to an influx of new people attracted by the construction. Many of these people worked in industries and warehouses that dotted the area. However, as industrial activities left New York City for cheaper locations during the mid-twentieth century, Dumbo began to deteriorate. Then, around the 1940s, the Brooklyn Queens Expressway was built, isolating Dumbo even more and pushing it towards further decline.
In the 1970s, many warehouses and factories were converted into loft apartments, attracting artists and musicians who appreciated the area's huge rooms and cheap rents. However, in 1979, real estate developer David Walentas bought the entirety of Dumbo, intending to make it more residential and gentrifying. New office buildings and luxury residences were planned as part of Walentas' plan, which began to draw more affluent people to Dumbo.
Dumbo was rezoned in 2004 to allow for additional high-rise construction. Dumbo's transformation from a neglected industrial sector to a thriving residential neighborhood is emblematic of Brooklyn's overall gentrification in the last two decades.
There are several advantages and disadvantages to living in Dumbo. On the plus side, it's a very fashionable and cool area with plenty of activities. The waterfront property is also quite beautiful, with breathtaking views of Manhattan. But certain drawbacks come with being such a popular place.
Pros and Cons that come from living in Dumbo:
Now that you know a little bit more about living in Dumbo, let's take a closer look at some of the best features this neighborhood offers.
Housing: Dumbo offers a variety of housing options, from luxury apartments to more affordable rentals. If you're looking to buy a home in Dumbo, be prepared to pay a premium - the average price for a condo is around $ 1,500,000.00
Public transportation: Dumbo is well-connected to the rest of Brooklyn and Manhattan by public transit. The A/C trains stop at High Street, while the F train stops at York Street. You can also take the East River ferry from Dumbo to Manhattan - it's quick and scenic!
Schools: Dumbo is home to several excellent schools, including Brooklyn Bridge Park Elementary School and PS 84.
Restaurants: Dumbo has no shortage of great places to eat, from casual cafes to fine dining. Some of our favorites include Almondine Bakery, Cecconi's, and Vinegar Hill House.
Bars: If you're looking for a place to grab a drink, Dumbo has plenty of options. Check out The Brooklyn Ice House, The Royal Palms Shuffleboard Club, or Superfine.
Crime: Dumbo is a relatively safe neighborhood, but like any other area of New York City, it's essential to be aware of your surroundings. Be cautious when walking alone at night, and always keep your valuables nearby.
Dumbo is a bustling community in Brooklyn that boasts some of the city's top attractions. From the world-famous Brooklyn Bridge to the scenic waterfront promenade, there's something for everyone in Dumbo.
Here are some of the major attractions in Dumbo:
The Brooklyn Bridge is one of the city's most recognized sights. The bridge is less than a mile long and provides spectacular views of the New York City skyline and East River. The Brooklyn Bridge Promenade, on foot or by bike, is the ideal location to take in the view. Then, head to one of the tower bridges for an even better perspective.
The Manhattan Bridge is also one of New York City's most popular tourist attractions. The Brooklyn Bridge Museum has exhibits on the bridge's history, as well as its significance in the city's growth.
The Brooklyn Bridge Park is an excellent location if you're seeking a stunning perspective of the Manhattan skyline and the Brooklyn Bridge.
The park covers 1.3 miles of beachfront and includes various activities, such as cycling, kayaking, and picnics. In addition, there are several gardens in the park, including the recently opened Winter Garden.
The East River, which runs from Battery Park to 34th Street along the river, provides spectacular views of New York City's skyline and various stores, restaurants, and attractions.
Visitors may take a ferry to Ellis Island or Liberty Island, stroll around the South Street Seaport Museum, or enjoy the views from one of the many waterfront parks.
Dumbo is an excellent choice for those who want to live in a vibrant and historic community with easy access to Manhattan. If you're looking to relocate to Dumbo, there are plenty of apartments for sale in Dumbo.
Dumbo has many housing options, from luxury condos to more affordable rentals.
If you're looking for an apartment in Dumbo, check out our listings! We have a variety of apartments for sale in Dumbo, Brooklyn. Connect with us today to learn more about living in Dumbo!
Josh is requested because of his reputation for nurturing clients new to the market and making sure every investment is feasible for each client’s unique situation. Pied-à-Terre investors both local and foreign also welcome!