3 million square feet--going fast!

It’s hard to believe, but DUMBO is almost entirely owned by David Walentas and his son, Jed. In the 1980s they saw this huge amount of space available in Brooklyn and snatched it up from the Helmsleys. Now, two decades later, they’re making a pretty penny from their original $6-per-square-foot property by developing it into one of the cities largest tech communities. It is so large that many of the 700 people who attended the DUMBO Summer Cocktail Party on June 14th were company principals from Manhattan coming to check out this burgeoning neighborhood. The buzz and curiosity about the neighborhood is significant and due in part to Two Trees Management’s ability to bring in high-tech tenants. Of course it doesn’t hurt that there are a number of trendy restaurants in the area. The cocktail party was held at Kino. Even Jacques Torres, the former executive chef of Le Cirque who has made desserts for the Pope and the last four presidents, has set up a chocolate factory in the hood! The monthly cocktail party for the Downtown Brooklyn Connected hosts "Broadband Brooklyn Bar Nights" will be at another trendy spot.