DUMBO is slowly coming up.. the Manhattan views from across the river are incredible, especially with the Brooklyn/Manhattan bridge stretching out of Dumbo and into Manhattan.
I recall looking at an industrial loft there last year. The streets were pretty much empty, the first floor of the building was occupied by a garbage recycling business.. freight elevator of-course locked.
The apartment had 8 huge windows.. First thing i see when i walk through the door is a hugh red ship coming up river, under the Manhattan bridge... then it came in and out of view through each of the windows..
There are a couple of new Condo high-rises coming up, and a few cafe's, and an 'F' train stop.. Dumbo is certainly (or is becoming) as desirable as Brooklyn Heights.