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Brooklyn Market Reports

Brooklyn Office Market

Average Asking Rent (Price/SF) $43.78
Availability Rate (%) 17.1%
Net Absorption (SF) 208,500

The Brooklyn market had an active quarter, as development continues to progress and the commercial landscape evolves. Average asking rents jumped 3.3% quarter-over-quarter to $43.78/SF, as repositioned properties fueled rent growth. Quarterly absorption was positive 208,500 square feet. This was the first quarter to post positive absorption in five quarters. Availability dropped this quarter, from 19.3% to 17.1% as several large leases outpaced smaller blocks of space that came to market.

Brooklyn Office Market Report
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