• For the second consecutive quarter, the Brooklyn office market broke the 500,000 sq. ft. mark for leasing activity, recording 599,000 sq. ft. in Q2 2019.
  • Despite falling short of the leasing totals of Q1 2019, this is the second-highest quarterly total on record.
  • The addition of 1.03 mil sq. ft. of space muffled the effects of strong leasing, pushing the availability rate to 21.3%—up 30 basis points (bps) from Q1 2019.
  • Brooklyn’s average asking rent is $43.61 per sq. ft., up 2% from the prior quarter and from one year ago.