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Brooklyn Market Reports

Brooklyn Office Market

Average Asking Rent (Price/SF) $43.97
Availability Rate (%) 16.6%
Net Absorption (SF) 41,070

Dumbo and Downtown Brooklyn drove fourth-quarter activity. Submarket fluctuations balanced each other, resulting in a stable fourth quarter for Brooklyn overall. The market ended the quarter at $43.97/SF, showing little change over the prior quarter. Despite current stability, average rental rates are up 5.6% year-over-year, and the availability rate-stable from last year and last quarter-is down almost three percentage points from a record high in the first quarter.

Brooklyn Office Market Report
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