January 28, 2016

TerraCRG Releases Annual Market Report: Brooklyn Commercial Sales Market Hits Record-Breaking Year in 2015

Company News Mentions News

New York Real Estate Journal

TerraCRG has released their 2015 Year-End Brooklyn Market Report. The report thoroughly analyzes all of the commercial sales in the Brooklyn market throughout 2015 and a comparison of the last six years, categorized by neighborhood and asset class.

“The investments sales market in Brooklyn saw a 10 fold increase in the last six years, from one billion dollars’ worth of transactions at the end of the recession to just under 10 billion last year,” said Ofer Cohen, Founder and President of TerraCRG. “Regardless of any short term effect the 421a expiration may have on new residential development of rental buildings – we expect Brooklyn to continue its long term trajectory, with the continued strength of multifamily sales and industrial to office conversion, as new residents and businesses are eager to call Brooklyn their home,” continued Cohen.

Read more here.