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.