canvas togler
Back to all news

Brooklyn Office 4Q: Rents remain constant as new developments enter the market



In the Brooklyn office market in 4Q 2019, the average asking rent ended the fourth quarter at $52.33/SF, down 0.9% from the prior quarter but still 0.7% higher from this time last year, according to a report on the Brooklyn Office Market (4Q) from Newmark Knight Frank.

The availability rate rose 30 basis points to 18.8%, the highest rate since the second quarter of 2017. More than 2.3 million square feet of space is currently under construction and is set to enter the Brooklyn market in the near future. In the last quarter, new large-scale developments that entered the market, include: One Willoughby Square in Downtown Brooklyn 47 Hall Street in the Navy Yard 181 Livingston Street in Downtown Brooklyn 25 Kent Avenue in Williamsburg.

Read more


Join Our Email List


By submitting this form, you are consenting to receive marketing emails from: . You can revoke your consent to receive emails at any time by using the SafeUnsubscribe® link, found at the bottom of every email. Emails are serviced by Constant Contact