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Brooklyn Market Reports

Brooklyn Office Market

Average Asking Rent (Price/SF) $50.03
Availability Rate (%) 17.6%
Net Absorption (SF) -417,528

Brooklyn's development pipeline has been active over the past year, driving market fundamentals. Some of the most notable offices spaces scheduled to open in 2018 include 733,000 square feet at the recently repositioned 25-30 Columbia Heights in DUMBO and 670,000 square feet at the newly constructed Dock 72 in the Navy Yard. The introduction of these large-scale projects to the market has caused year to date absorption to fall to negative 923,114 square feet. This represents a substantial change from the negative 505,586 square feet measured year to date last quarter. Among Brooklyn's five submarkets, all but the Navy Yard posted negative absorption this quarter.



Brooklyn Office Market Report
3Q18
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