• Quarterly leasing activity totaled 195,000 sq. ft. during Q3 2019, a 67% decrease from Q2.
  • Year-to-date leasing activity reached 1.47 million sq. ft. at the end of Q3 2019, the highest year-to-date total recorded since CBRE began tracking the Brooklyn market.
  • 88,000 sq. ft. of positive absorption occurred during Q3 2019, compressing the availability rate by 10 basis-points (bps) to 21.2%.
  • Brooklyn’s average asking rent remained relatively unchanged through the third quarter, at $43.57 per sq. ft.
  • The Brooklyn construction pipeline remains robust with 2.98 million sq. ft. of projects currently under way.