Homes for sale in Dumbo, Brooklyn, NY have a median listing price of $920,000 and a price per square foot of $672. Short for “down under the Manhattan Bridge overpass,” this Brooklyn neighborhood has seen a major renaissance and overhaul over the past few years. The trade-off for having Manhattan's picturesque skyline in your backyard is that the area isn't close to any quick routes to the city.The neighborhood is the first to greet visitors walking over the Brooklyn Bridge and boasts the famous post-Brooklyn Bridge-stroll destination: Some of the most conspicuous buildings in DUMBO are the Watchtower buildings, formerly owned by the Jehovah's Witnesses. RLS IDX Data display by CityRealty.com, LLC. The acronym DUMBO was coined in 1978 by residents who hoped such an unattractive name would deter developers. Find properties for sale at the best price. 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Serving as an acronym for Down Under the Manhattan Bridge Overpass, the DUMBO neighborhood is located in two sections: One between Manhattan and Brooklyn Bridge, and the other east of the Manhattan Bridge to Vinegar Hill. Luxury Apartments in Dumbo For Sale .