The average price per SF of mixed-use buildings in 2022 in Brooklyn was $501, down from 2021’s average of $508. The average price sale in 2022 was approximately $4M, in line with the approximately $4M in 2021.
The North Brooklyn region achieved the highest average price per SF at $723.
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Investors demand for mixed-use assets was remarkable despite challenges with price discovery and high interest rates. Total transaction volume increased 18% year-over-year and decreased 23% in the second half of 2022 compared to the first half of the year. Over $1.1B worth of mixed-use assets traded hands this year in the Greater Downtown Region, highlighting sustained demand for retail and ” multifamily assets that offer a live-work-play dynamic in transit corridors.
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Brooklyn 2022 Market Report Mixed-Use
2022 Avg Sale Price: $4M
Average Sale Price by Region
- Central Brooklyn $1.7M
- East Brooklyn $1.2M
- Greater Downtown Brooklyn $13.9M
- North Brooklyn $6.5M
- North-Central Brooklyn $2.1M
- South Brooklyn $1.9M
- West Brooklyn $2M
1 Knickerbocker Avenue Case Study
Matt Cosentino, along with his team, were the sole brokers in the sale of a mixed-use building located at 1 Knickerbocker Avenue, in East Williamsburg/Bushwick.
Located on the border of East Williamsburg and Bushwick, this corner property was formerly home to 1 Knickerbocker Bar and Restaurant & Kings County Bar.See Full Case Study >
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