Dumbo, also known as DUMBO, is a neighborhood in the New York City borough of Brooklyn.The name is an acronym for Down Under the Manhattan Bridge Overpass. Several other New York City neighborhoods are known by acronyms, including Tribeca, SoHo, NoHo, NoMad, and Nolita in Manhattan, and BoCoCa in Brooklyn.lidden stated, of Dumbo's gentrification, 'It may be one of the last of what could be considered a true arts community in New York.. On December 18, 2007, the New York City Landmarks Preservation Commission voted unanimously to designate Dumbo as the city's 90th historic district.