While leasing in Downtown Brooklyn slowed a bit in Q3, nonetheless, the Brooklyn office market overall is looking peachy so far this year, according to a third quarter report from Newmark Grubb Knight Frank. Mainly this is because there are fewer vacancies, with the vacancy rate at 5.9 percent in the third quarter, vs. 6.1 percent the quarter before and 6.8 percent one year ago. Average asking rent was $30.94 per square foot in the third quarter, up slightly from the quarter before but slightly below the year before, when it was $31.39 per square foot.
Photo by mark.hogan


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