Landlords are lowering rents for commercial space in North Brooklyn
AP file photo/John Minchillo
As we approach the looming 15-month L-train shutdown, the long-awaited signs of real estate discounts in North Brooklyn neighborhoods surrounding the L are emerging. While rents for residential real estate have been getting lower since 2016, commercial landlords are now starting to offer discounted space as well, according to The Real Deal.
A broker for TerraCRG, a Brooklyn-based commercial real estate firm, said that a landlord he represents offered a tenant a 15 percent discount on rent.
“It was unprompted, so you can tell that the tunnel shutdown is something that owners are certainly aware of – and hearing about from tenants,” said the broker, Peter Schubert.
