Brooklyn Office Market
| Average Asking Rent (Price/SF) | $53.21 |
| Availability Rate (%) | 19.3% |
| Net Absorption (SF) | -67,477 |
St. Francis College completed a 255,091-square-foot lease at The Wheeler in May, helping to absorb a portion of this full building availability after a previously signed 622,000-square-foot deal with the Whittle School and Studios was withdrawn. St. Francis College completed the fifth largest office lease nationwide in the second quarter and brought positive news to the Brooklyn market, which has lacked large deal activity, especially though the pandemic.
Download Brooklyn Office Market Report 2Q21