August 21, 2015

Brooklyn Commercial Sales Rise by $2B

Feature News

Commercial brokerage firm TerraCRG reports that the 1,011 transactions (multifamily, mixed-use, development, retail, industrial/office) in Brooklyn totaled $5.13 billion for the first six months of 2015, a 61% increase from the nearly $3.19 billion posted in the first two quarters of 2014.

Ofer Cohen, Founder and President of TerraCRG, says the number of transactions over $10 million almost doubled from 68 transactions in the first half of 2014 to 113 in the first half of 2015. The average transaction size in the first half of 2015 rose to $5.08 million from the $3.15 million average posted in the first half of 2014.

Read more here.

Find out more about Brooklyn Commercial Real Estate Sales for the first half of 2015 by viewing our 2015 Semi-Annual Brooklyn Market Report.