Commercial rents up in many Brooklyn shopping districts
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.
Brooklyn Boro
View MoreNew York City’s most populous borough, Brooklyn, is home to nearly 2.6 million residents. If Brooklyn were an independent city it would be the fourth largest city in the United States. While Brooklyn has become the epitome of ‘cool and hip’ in recent years, for those that were born here, raised families here and improved communities over the years, Brooklyn has never been ‘uncool’.