April 22, 2020

7 things to know about the New York City commercial real estate market right now

New York Business Journal

From Manhattan retail and office space, to Brooklyn multifamily home sales, here’s a look at what recent reports are telling us about the New York City-area commercial real estate market at this moment.

The majority of property owners in Brooklyn say at least three-quarters of their retail tenants have asked for rent forgiveness or deferral.

And almost half of the tenants asked for rent to be paused indefinitely.

That’s according to a report by Brooklyn commercial brokerage and advisory firm TerraCRG about how the pandemic has affected Brooklyn retail so far.

Read more here.