[8] The area was originally a ferry landing, characterized by 19th- and early 20th-century industrial and warehouse buildings, Belgian block streets, and its location on the East River by the imposing anchorage of the Manhattan Bridge.

A large number of the buildings in Dumbo were bought by developer David Walentas and his company Two Trees Management in the late 20th century, and remade into an upscale residential and commercial community—first becoming a haven for art galleries, and currently a center for technology startups.

This designation coincided with its rise to become Brooklyn's most affluent neighborhood and the fourth-wealthiest community in New York City; this is owing in part to its large concentration of technology startups, its close proximity to Manhattan, and its large number of former industrial buildings that have been converted into spacious luxury residential lofts.

[10] The neighborhood contains the corporate headquarters for e-commerce retailer Etsy and home furnishing stores company West Elm.

The area has been known variously as Rapailie, Olympia, and Walentasville;[8] the developer who began its current gentrification is Two Trees Management, led at the time by David Walentas.

[13] In the 1890s, the western portion of the neighborhood was known as Fulton Landing, after the ferry stop that connected it to Manhattan before the Brooklyn Bridge opened.

At that time, it was primarily a manufacturing district, with warehouses and factories that made machinery, paper boxes, spices and Brillo soap pads.

It ran from rail yards beneath the Manhattan and Brooklyn Bridges to buildings near the waterfront in Dumbo and Vinegar Hill.

Even so, the acronym "Dumbo" was largely unknown as late as 1997, and the area itself was very inclusive, serving mainly as an enclave for artists located along the East River and under the Manhattan Bridge.

[1] It consists of 95 contributing buildings; the manufacturing concerns located in this district included Benjamin Moore & Co. (paint), Arbuckle Brothers (coffee and sugar), J.W.

[24] Other culinary businesses in the area include Grimaldi's,[25] Ample Hills Creamery,[26] Almondine Bakery,[27] and the River Café,[28] all clustered in Fulton Landing, also home to Bargemusic, a floating venue for classical music.

In addition to boxing champions, Roca has trained many actors, including Wesley Snipes, Hilary Swank, Jennifer Lopez, and John Leguizamo.

[46] It was converted to mixed-use retail and office space, and it includes West Elm's global flagship store.

The food hall features 21 local vendors, including the Breads Bakery[49] and DUMBO's renowned pizzeria, Juliana's.

[14] It also contains the corporate headquarters for e-commerce retailer Etsy[52] and home furnishing stores company West Elm.

[57] On May 1, 2017, that route became part of the NYC Ferry's East River route, which runs between Pier 11/Wall Street in Manhattan's Financial District and the East 34th Street Ferry Landing in Murray Hill, Manhattan, with five intermediate stops in Brooklyn and Queens.