February 18, 2021

Post-Pandemic Recovery: What Does the Future Hold for Downtown Brooklyn?

As the coronavirus swept across New York, images of a deserted midtown Manhattan became emblematic of the pandemic’s devastating economic impact. Throughout the summer, journalists chronicled midtown’s uncertain future; even now, with vaccination efforts progressing, landlords of commercial offices and large retail spaces worry about midtown’s viability in a future of increased remote work and a lingering fear of crowded spaces.

“Covid taught us a bunch of different things about the world,” said Ofer Cohen, co-chair of the Downtown Brooklyn Partnership and President of TerraCRG, a real estate brokerage that works exclusively in the Brooklyn commercial real estate market.  “And coming back, we think that Brooklyn, and Downtown Brooklyn specifically, is gonna have an edge over Midtown when employees and big companies are rethinking new office space.”

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