Brooklyn Office was Once Industrial Space

Brooklyn Office Space Market Set to Boom The Lockaway Self Storage Building in Brooklyn is typical of the warehouses and factories that could potentially be converted to office use. This 1890s warehouse, located across from The Brooklyn Navy Yards was originally a shoe factory and then a root beer bottling plant before being shut down years ago.  According to Tucker Reed, president of the Downtown Brooklyn Partnership, this building among many others are ripe for conversion to office space. Tightening Market The Brooklyn office space for rent availability rate (the space that is available now or scheduled to become available within 12 months) in Brooklyn has dropped to 7.8% at the end of June; average asking rents are $32.13, compared… Continue reading

Posted in Brokers & Other Real Estate ProfessionalsCommercial Leasing 101Manhattan Office Space.

The commercial real estate market in New York City moves at the same pace as New Yorkers—VERY FAST! This is the largest commercial real estate market in the country with hundreds of properties changing hands every day. Offers get submitted, leases and sale contracts get issued and deals are consummated. In a complex market that’s moving at this speed, it’s impossible to maintain a high level of accuracy in online databases…. But the plot thickens. Remember, this is New York… Enter online databases… Sorry, they’re not available to YOU! Just as the world of the residential real estate has Multiple Listing Services (MLS), so does the commercial real estate market.  These commercial property databases provide realtors with up-to-date information on… Continue reading

Posted in Brokers & Other Real Estate ProfessionalsCommercial Leasing 101Manhattan Office Space.