Why is DUMBO so expensive?

DUMBO is one of the most expensive neighborhoods in Brooklyn for several reasons. Its housing is a limited supply of converted industrial lofts and high-end new-construction condominiums, many with direct Manhattan and Brooklyn Bridge views. It sits on the waterfront beside Brooklyn Bridge Park, a short walk or ferry from Manhattan, and has become a magnet for tech, creative, and finance professionals. Scarce inventory, trophy views, and a premium location combine to push price per square foot to among the highest in Brooklyn.