The average price per SF of industrial buildings in 2022 in Brooklyn was $538, up from 2021’s average of $300. The average price was approximately $13M, up from approximately $8.18M in 2021.

The Greater Downtown Region achieved the highest average price per SF at $699.

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$1.26B worth of Industrial assets traded hands in 2022, representing a 43% year-over-year increase. The Brooklyn Market remains undersupplied with a sub 2% vacancy rate. However, the dollar volume fell off by 64% in the second half of 2022 with rising rates and uncertaintysurroundingtheleasingstrategyofe-commercetenants

Dan Marks, Partner

Brooklyn 2022 Market Report Industrial

Download the 2022 Brooklyn Industrial Report

Dan Marks

Partner
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All Asset Types
Industrial/Office

Jackson O’Neill

Senior Associate, Investment Sales
Industrial/Office

Industrial Insights

2022 Avg Industrial Sale Price: $13.4M

Average Industrial Sale Price by Region

  • Central Brooklyn $2.6M
  • East Brooklyn $24.9M
  • Greater Downtown Brooklyn $35.8M
  • North Brooklyn $10M
  • North-Central Brooklyn $7.9M
  • South Brooklyn $1.1M
  • West Brooklyn $5.8M

80 Hudson Avenue Case Study

TerraCRG’s Ofer Cohen, Melissa Warren, Dan Marks, Peter Matheos, Mike Hernandez, and Joey Terzi were the sole brokers in the lease of the free-standing loft building at 80 Hudson Avenue.

This 76,000 GSF building, located in the Vinegar Hill neighborhood of Brooklyn, was a rare-opportunity as it is one of the only free-standing, commercially-zoned buildings of its size in New York City’s center of innovation and creativity.

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