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Brooklyn Market Reports

Brooklyn Office Market

Average Asking Rent (Price/SF) $52.80
Availability Rate (%) 18.5%
Net Absorption (SF)   -297,585

Throughout the third quarter, four large-scale developments have come onto the market, delivering more than 2.1 million square feet of office space. Each of these developments is located within a different Brooklyn submarket, highlighting the growth and appeal across the borough. The largest of these new properties is the 733,000 square foot building at 25-30 Columbia Heights, rebranded as Panorama. The second-largest development, with 670,000 square feet is, Dock 72, where 220,000 square feet has been leased to WeWork. The other two major developments are 25 Kent Avenue, which delivered 507,611 square feet, and 341 39th Street in Sunset Park, where 214,000 square feet came on the market. Future projects in the pipeline include The Wheeler in Downtown Brooklyn and The Hall within the Navy Yard.



Brooklyn Office Market Report
3Q19
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