Brooklyn Office Market
|Average Asking Rent (Price/SF)||$53.84|
|Availability Rate (%)||18.9%|
|Net Absorption (SF)||-225,303|
The Brooklyn availability rate increased by 20 basis points from the fourth quarter to 18.9%. This slight increase followed a 200-basis- point increase in the Downtown Brooklyn availability rate to 17.8% and a 90- basis-point increase in Dumbo to 26.8%. These large jumps were relatively offset by declines in Williamsburg/Bushwick, Sunset Park, and Brooklyn Navy Yard of 330 basis points, 190 basis points, and 90 basis points, respectively.
Download Brooklyn Office Market Report 1Q22