Brooklyn real estate activity is up from last year across the board
Neighborhood retail returns in a big way
The dollar volume of real estate investment sales in Brooklyn totaled $5.56 billion in the first half of 2022, a slight dip of 8 percent from the second half of 2021, but up a whopping 213 percent year-over-year, according to a research report produced by Ariel Property Advisors, “Brooklyn 2022 Mid-Year Commercial Real Estate Trends.”
This year-to-year increase cut across several sectors: multifamily housing, commercial and industrial, according to Ariel, which describes itself as a commercial real estate services and advisory company headquartered in New York City.
Interesting trends found in the report include the return of small, neighborhood retail, which took a hit during the pandemic; institutional investors buying up multifamily housing developments; and more commercial real estate activity in Southern Brooklyn as opposed to high-priced neighborhoods in Downtown and North Brooklyn.