DUMBO: Overview

DUMBO - which stands for Down Under the Manhattan Bridge Overpass - has its very unique strong industrial overtone. A few decades ago this trendy area was packed with warehouses and factories.  Now its large number of former industrial buildings have been converted into spacious luxury residential lofts.

The neighborhood attracted the large concentration of technology startups - DUMBO is a home to 25 percent of New York City-based tech firms, including the online market Etsy, the digital marketing agencies Huge and Big Spaceship among others. 

DUMBO offers the plenty of modern amenities including fine-dining, parks, scenic waterfront and beautifully manicured piers. According to New York Times, "DUMBO is becoming a dining destination".

One of the newest waterfront restaurants, Celentine, features scenic views of the Manhattan skyline. This Eastern Mediterranean restaurant, located just under the Manhattan Bridge, serves "seasonal, soulful fare that draws inspiration from Northern Africa, the Mediterranean coastline, and the Middle East".

Located in Brooklyn Bridge Park, Cecconi's DUMBO is a modern day classic Italian restaurant open for lunch, cicchetti, and dinner, as well as weekend brunch. It serves high-end cuisine, including hand-made pasta, seafood and dishes from Italy using the finest ingredients.

Sugarcane Raw Bar Grill is the new restaurant, opened in DUMBO. This place captures the stunning water view both indoors and on a patio. The menu mixes Asian, Latin and American influences.

Over the years DUMBO has emerged as one of New York City's premier arts districts. The area offers a number of for-profit art galleries such as Klompching Gallery, and not-for-profit institutions, such as the A.I.R. Gallery and the St. Ann's Warehouse. Other popular galleries like Janet Borden and Minus Space and Art in General serve as another alternative spaces showcasing emerging artists.

Real Estate Market

DUMBO had become one of the most expensive neighborhoods in Brooklyn, offering its residents close proximity to Manhattan and an upscale and vibrant community. The real estate market mostly consists of renovated lofts, mixed-use converted spaces, and a growing number of new high-rise condos.  The Compass website recently showed 26 properties listed for sale,  with prices ranging from $935,000 for a one-bedroom co-op in a high-rise building to $5,850,000 for a four-bedroom top floor condo in a new development.

As for rentals, prices for a studio range from $2,500 to $3,700 a month; one-bedrooms from $3,000 to $5,300; two-bedrooms start from $3,400 for a mid-rise condo and range to $10,500 for a two-bed Penthouse with a private terrace. Three-bedrooms start from $6,750.

Brooklyn Heights: Overview

Brooklyn Heights is one of New York's most charming and desirable neighborhoods. This historic neighborhood is known as “America’s original suburb” for its low-rise architecture and many brownstone row houses. Residents and visitors enjoy tree-lined promenade along the East River, and a mix of commercial and community-focused businesses. The area is defined by natural and architectural beauty, and upscale-casual food and entertainment options. Stroll-friendly streets and bluff-side waterfront location created area's reputation as one of the most idyllic neighborhoods in New York.

Community

The neighborhood offers an abundance of curated stores, innovative restaurants, notable churches and cultural institutions. You can learn about the area's rich history in The Brooklyn Historical Society (BHS). BHS, founded in 1863, is a museum, library, and educational center, dedicated to encouraging the exploration and appreciation of Brooklyn's diverse peoples and cultures both past and present.

This gorgeous neighborhood features some cozy cafes and upscale restaurants. A variety of dining options primarily can be found around Atlantic Avenue and Montague Street. Damascus on Atlantic is a great place to get Middle Eastern spreads and baked good, such as brick-oven baked pitas, vegetable and meat pies, baklava, bird's nests, and kanafa rolls. Nearby, Dellapietras offers hip, high-end butcher shop offering meats, vinegars, gourmet foods and more in atmospheric surrounds.

The Osprey Restaurant, located at 60 Furman Street at 1 Hotel Brooklyn Bridge, boasts market-driven American comfort food, highlighting local seasonal ingredients by Executive Chef Michael Oliver and Chef de Cuisine, Michael Poiarkoff. Guests can enjoy the delicious fare and craft cocktails in a bright and airy atmosphere, incorporating lush greenery and wall to wall glass doors to create an indoor-outdoor garden experience.

For a great wine list, curated by Brooklyn’s only Master Sommelier, visit Beasts & Bottles. This place features an open view of the Rotisserie where guests can enjoy "watching their favorite item slowly cook in front of the roasted flames".

Coffee lovers enjoy cozy coffeeshop Vineapple, that also offers locally baked goodies, like muffins and croissants, wines, beers and homemade sandwiches.

Real Estate Market

Brooklyn Heights offers some of the finest houses with architectural styles ranging from Gothic Revival to 19th-century American mansions. Most buildings were converted from single family units and rowhouses, so doorman buildings are rare in this area. Though well-maintained or recently restored units are the norm. Prices are ranging from about $400,00 for a studio co-op in a mid-rise building to  $19,500,000 for a 5-bedroom condo in a pre-war building.

As for rentals, prices for a studios range from about $1,775 to $3,700 a month; one-bedrooms from about $2,100 to $6,000; two-bedrooms start from about $2,500 for a condo in a pre-war building and range to $18,000 for a penthouse with a private terrace. Three-bedrooms start from $7,000.