Talk about a transformation: Years ago, the 50-acre waterfront wedge down under the Manhattan Bridge overpass was forgotten, almost inhospitable. Then artists, edged out of Manhattan, found their way here; as did developer David Walentas, who gave it a name, and Dumbo was created. Legend has it that Walentas bought swaths of the neighborhood — two million square–feet of it, according to some press reports — decades ago, and, building by building, converted it into today's high-end, Soho-like neighborhood (sans the clothing chains). Artists still live here, but increasingly, with prices among the highest in Brooklyn, bonus buyers and moneyed types have taken to it, too, lured by the cobblestone streets, the galleries, the restaurants (Superfine, Rice, River Café), and the mostly funky — though pricey — retail-mix (Jacques Torres, Modern Tots). But the biggest attraction is the great housing stock: once-decrepit warehouses turned luxury lofts, and brand-new high-rises built by developers seeking some of Walentas’ lucre. After the jump, some you can check out this weekend. —S. Jhoanna Robledo