July 19, 2018

Brooklyn Investment Sales Volume May Be Creeping Back Up

Bisnow New York

More money changed hands in commercial real estate deals in Brooklyn in the first half of the year than in the last two, slower years, with a total of $4B worth of trades. That total figure represents a 44% increase over the same time last year, according to TerraCRG’s half yearly report, and follows two years of declines. However, much of that increase was driven by the $805M sale of Starrett City and without that outlier deal, the increase was a more muted 12%. Overall, there were 597 trades in the first six months of the year, a 14% decrease on last year. That dip is because of a shortage of inventory, according to the report.

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