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Boroughs Beyond Brooklyn Look Good

NEW YORK CITY—In a panel discussion on the state of New York City commercial real estate, sponsored by the local chapter of the Real Estate Services Alliance, industry experts discussed looking beyond Brooklyn and some said they're even marketing the city's surrounding areas.

By Rayna Katz | Updated on March 13, 2015

NEW YORK CITY—At one time, asserting that Brooklyn was the next great frontier might raise the eyebrows of a room full of industry exectuives. But today, additional boroughs are on the map while Brooklyn’s popular spots already have evolved, sending industry investors, developers and financiers into other pockets of the borough, according to a panel of experts who spoke during a Real Estate Services Alliance meeting Thursday in Midtown.

“People are talking about DUMBO properties exceeding $1,500 per square foot and, in some parts of Brooklyn, it’s over $2,000,” said Jonathan Nachmani, SVP, the Jackson Group.

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