August 10, 2021

Dollar Volume of Brooklyn Investment Sales Jumped 58% in Q2: Report

Mentions News

Commercial Observer

Investment sales dollar volume in Brooklyn jumped 58 percent from the first to the second quarter of this year, but the numbers were still lagging behind pre-pandemic figures, according to a new report by TerraCRG shared exclusively with Commercial Observer.

King’s County netted $1.06 billion in investment sales in the second quarter of 2021, the report found. That boosted the borough’s dollar volume for the first half of 2021 to $1.73 billion; however, that figure marked a 23 percent decrease compared to the same time last year.

Still, the report showed positives for Brooklyn’s recovery as the number of deals increased from 377 in the first half of 2020 to 464 in the first half of 2021 — office, retail and multifamily sales all saw large quarter-over-quarter increases.

“I think that now we’re in very, very good territory,” said Ofer Cohen, founder and president of TerraCRG. “I think it’s going to continue to increase.”

Read the full article here