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REBNY: Brooklyn Retail's Time Has Come

NEW YORK CITY—The city's real estate organization has issued its first ever bi-annual report on the state of retail in Brooklyn, examining 15 corridors.

By Rayna Katz | Updated on October 13, 2015

NEW YORK CITY—The Real Estate Board of New York has issued its first ever Brooklyn retail report, a new study that will analyze ground floor asking rents in 15 of the borough’s top retail corridors. In the inaugural third quarter 2015 Brooklyn retail report, Williamsburg’s Bedford Avenue—between Grand Street and North 12th Street—pulled in the highest average asking rent of $347 per square foot.

“Brooklyn is hot as hot can be,” REBNY president John Banks declared Tuesday at a press conference. “The time has come for this report as Brooklyn has reached maturity as a market. We’ll be doing this every six months and that will hopefully create a database over time that will allow us to examine trends.”

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