Brooklyn’s leasing activity increased, quarter-over-quarter. Meanwhile, the available inventory tightened with positive absorption. But the asking rent average decreased slightly since Q1 2021.
Quarterly Leasing Volume Jumped
Brooklyn’s Q2 2021 leasing activity (0.33 million square feet) increased by 41.6% since Q1 2021 (0.23 million square feet) and was substantially higher than the 0.19 million square feet of leasing volume recorded one year ago.