Brooklyn’s Q2 2022 leasing activity (0.38 million square feet) grew by 10.1% since Q1 2022 and by 15.7% since Q2 2021.
- Brooklyn’s availability rate tightened since the prior quarter by 1.5 pp to 19.9%. This was Brooklyn’s largest quarterly drop in two years.
- Absorption in Brooklyn during the second quarter was positive at 0.62 million square feet.
- Brooklyn’s asking rent average increased by 0.8% since March 2022 to $50.41/SF.