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Brooklyn Market Reports

Brooklyn Office Market

Average Asking Rent (Price/SF) $51.00
Availability Rate (%) 15.9%
Net Absorption (SF)   197,055

Year-over-year, each submarket saw an increase in average asking rents. The highest jump, a 15.5% increase, occurred in the Brooklyn Navy Yard. However, Brooklyn's overall average asking rents fell to $51.00/SF, the first quarter-over-quarter decrease in seven quarters. This is a 1.9% decrease from last quarter and a 9.0% increase from this time last year. Although overall average asking rents have fallen, asking rents for prime buildings have risen 1.9% from last quarter to $63.36/SF, a record high for this cycle.

Brooklyn Office Market Report
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