Brooklyn Boro

Commercial rents up in many Brooklyn shopping districts

November 29, 2018 By Raanan Geberer Brooklyn Daily Eagle
Part of the Montague St. Shopping district. Eagle file photo by Mary Frost
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Brooklyn has become a healthy market for retail stores, with average asking rents on ground-floor spaces up in seven of 16 shopping districts.

Commercial rents have been rising where more apartments are being built, according to the Real Estate Board of New York. However, asking rents are dropping in older neighborhoods where rents had risen during the past decade, according to the New York Post.

One of the most active shopping districts, the Post reported, was North Fourth Street in Williamsburg, where retail rents rose 34 percent. Along North Sixth Street, rents went up 8 percent.

However, rents fell 11 percent, to $351 per square foot, on Bedford Avenue between Grand and North Eighth streets, the Post said.

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