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A radical new ploy to lure Google and other firms to Brooklyn


When apartment landlords have empty units, they lure prospective tenants with cheaper rents and free perks. Office landlords haven’t historically offered such grand concessions to fill vacant square footage — until now. The New York City real-estate developer Rubenstein Partners is willing to offer a nearly 50% discount on rent and more flexible terms than… Read more »

Chicago ramen restaurant Urbanbelly coming to new Williamsburg Market


Chicago-based Cornerstone Restaurant Group, best known for Michael Jordan’s Steak Houses, is set to bring its beloved ramen restaurant Urbanbelly to Williamsburg next month. The new restaurant — an expansion for Urbanbelly, at home in Wicker Park — will be located in the new Williamsburg Market, coming soon to 103 N. Third Street. The Kings… Read more »

Finding Good News in NYC Commercial Real Estate


by Neil A. Dolgin After a strong economic rebound for commercial real estate in 2021, data from the National Association of Realtors (NAR) indicates a slowdown in the growth of commercial real estate in 2022 resulting from the effects of the Covid-19 pandemic, rising inflation, higher interest rates, and geopolitical events that have caused a… Read more »

Lenders favor resi projects in big month for outer-borough loans


Kings County reigned in July as lenders pumped billions into outer-borough real estate projects. The month’s 10 biggest loans totaled $1.8 billion, more than five times June’s total, and about twice as much as last July — closely mirroring a similar rebound in Manhattan. Brooklyn captured seven of the month’s 10 largest commercial loans, while… Read more »

How Today’s Economy is Affecting Commercial Real Estate


by Neil A. Dolgin Fall has arrived with an economy still finding its way. There is low unemployment which bodes well, but the challenges of high interest rates and inflation are increasing concerns about the possibility of a recession.  Interest rates are already up 2% this year, and inflation is still soaring despite a downturn… Read more »

More Affordable Parts of Brooklyn, Queens See Big Rent Increases


As the average rent in Manhattan surpasses $5,000 a month for the first time, the latest report from brokerage MNS finds that even more affordable parts of Brooklyn and Queens saw some of the largest rent increases in the past month. In Brooklyn, MNS finds that average rents increased in 15 of the 16 neighborhoods… Read more »

Massive Williamsburg Towers Get Approval From Council Sub-Committee


Two massive towers slated for the Williamsburg waterfront got one step closer to reality on Thursday, as the City Council’s Land Use Committee voted to approve the plan with slight modifications. The proposal, officially dubbed River Ring, now heads back to the City Planning Commission for review before a full council vote next week. If… Read more »

Tis the Season: Check Out Brooklyn’s Upcoming Holiday Lightings


The holiday season is in full swing in Brooklyn, starting off last week with the annual tree lighting at Downtown’s Albee Square. Don’t fret if you missed it — the next few weeks are chock-full of lights, singing, and cheer in every corner of the borough. Brooklyn Paper Photo by Reuben Teo on Unsplash

Padel (it’s a sport!) club to open in Brooklyn warehouse


The city’s first “padel” club will open in a 30,000-square-foot Williamsburg warehouse next year. No, it’s not spelled wrong. And padel is not paddle tennis or pickleball. It is, however, a fast-growing sport that fans say is fun and easy to play. But in case that’s not enough to make the Brooklyn business viable at… Read more »

Brooklyn Navy Yard to use Cityzenith platform for sustainability, cost cutting


Chicago-based Cityzenith is launching a pilot project using its SmartWorldOS Digital Twin platform to help New York’s Brooklyn Navy Yard cut operating costs and achieve sustainability objectives. Cityzenith said its platform enables buildings of any size, type or age to make significant savings. These include 35% in operating costs, 20% in productivity and 50% to… Read more »

Developer to break ground on first brand-new Dumbo office building in 100 years


Anyone can boldly announce plans for future office buildings that have no official groundbreaking dates. It’s another to actually start construction amid the lingering pandemic when the city’s overall office market continues to see record-high vacancy rates. On Sept. 14, developer Edward J. Minskoff and JP Morgan Global Alternatives will take the plunge on 29… Read more »

The 2021 Brooklyn Power 100


Brooklyn is bursting at the seams with political power. The current mayor – and all but certainly the next mayor – hail from the borough. So too does the majority leader of the U.S. Senate and, perhaps, the next speaker of the House of Representatives. Brooklyn is also home to the state attorney general, a… Read more »

Construction to start this summer on 80 Flatbush, City’s First All-Electric Residential Tower


The first phase of Boerum Hill’s 80 Flatbush development is set to begin construction this summer, with a new school and the city’s “first all-electric residential tower” expected to be complete by 2024. Phase one of 80 Flatbush, which has been renamed “The Alloy Block” after the project’s developer, will include a 480-foot, 44-story mixed-use… Read more »

New York Releases Zoning Plan for Gowanus Manufacturing Area


As New York inches forward with the controversial Gowanus neighborhood rezoning in Brooklyn, the Department of City Planning (DCP) has released a plan for the industrial area along the polluted Gowanus Canal, which calls for denser commercial development, relaxed parking rules, and infrastructure and street upgrades. The Gowanus Industrial Business Zone includes a diverse array… Read more »

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