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NY Q1 2021 Brooklyn Office Market Report

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Brooklyn’s leasing activity decreased, quarter over quarter. Meanwhile, the available inventory expanded with negative absorption. The asking rent average, however, increased since Q4 2020.

 

Leasing Volume Decreased by Half

Brooklyn’s Q1 2021 leasing activity (0.23 million square feet) decreased by nearly 50.0% since Q4 2020 (0.46 million square feet) and was 40.7% lower than the leasing activity during Q1 2020 (0.39 million square feet).


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NY Q1 2021 Brooklyn Office Market Report

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