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.