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Brooklyn Market Reports

Brooklyn Office Market

Average Asking Rent (Price/SF) $52.62
Availability Rate (%) 17.0%
Net Absorption (SF)   227,974

Brooklyn's average asking rent rose 2.4% over the second quarter to $52.62/SF after falling last quarter for the first time in seven quarters. This rise was concentrated in Downtown Brooklyn and Williamsburg/Bushwick, where rental rates increased by 8.7% and 8.1%, respectively. In both submarkets, the rise in rents can be attributed to newly repositioned buildings coming onto the market: the Wheeler Building in Downtown Brooklyn and the Dime Savings Bank at 209 Havemeyer Street in Williamsburg/ Bushwick.



Brooklyn Office Market Report
2Q19
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