"Brooklyn is now the cool borough, our high-quality space is a terrific value, and the last few years have seen a huge increase in the number of creative professionals living and working in Brooklyn," explains Chris Havens, director of leasing at Two Trees. "The biggest draw to Dumbo's new music scene, however, is word of mouth. Music companies already in the neighborhood spread the message that Dumbo is the new 'it' place for independent labels."

Among the latest to add their names to the tenant rolls are Triple Z Inc., a company for composer and music producer Paul Guzzone, which leased 1,573 sf in 20 Jay St. for a five-year term at $12 per sf. Witchcraft Music principals Shawn L. and Colleen Moseley, who have a company that records and mixes music, leased 1,958 sf in the site for a five-year term, also paying $12 per sf. 20 Jay St. is being converted floor-by-floor into "creative spaces," says Havens.

Tag Team Media Inc. and Domino Recording Co. Ltd have taken 1,300 sf in 45 Main St. for five years at $17 per sf. Tag Team is a self described "scrappy young PR firm specializing in the promotion of innovative music and entertainment." Domino is a London-based music company who represents popular indie artists Franz Ferdinand and the Kills. Havens says 45 Main is one of the premier office spaces in Dumbo and that's why the rent is higher. He says "if you can find" comparable space in Manhattan, it would go for between $16 and $20 per sf and be located in the 30s. Tag Team and Domino previously had space in Manhattan, but opted for Brooklyn.