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Multifamily, Development, Industrial Trades Push Brooklyn’s Investment Sales To $5.56 Billion

Investment dollars poured into Brooklyn’s commercial real estate market in the first six months of the year, accounting for a quarter of the $22 billion in commercial property sales across New York City in 1H 2022, second only to Manhattan which saw 53% of the city’s dollar volume.

The dollar volume in Brooklyn totaled $5.56 billion in 1H 2022, a slight dip of 8% from the record $6.1 billion in 2H 2021 which included the $1.3 billion partial interest sale of Starrett City, but was up 213% year-over-year, according to Ariel Property Advisors Mid-Year Brooklyn Report. Transaction volume followed a similar pattern with 619 transactions in 1H 2022, roughly the same as 2H 2021, however, a 55% increase compared to 1H 2021.


Photo by Pixabay


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