Commercial Sales Doubled in 2012

Another year-end report points to a banner year for Brooklyn commercial real estate. According to a report by Ariel Property Advisors, there were a total of $4 billion in commercial sales last year, more than double the total in 2011. The number of deals were up by over 50 percent. More than half of the transactions were for multi-family buildings, and prices were approaching $1,000 a square foot in Park Slope and Williamsburg. The largest commercial sale was the $751 million purchase of Kings Plaza Shopping Mall in Sheepshead Bay.
Brooklyn Investment Sales Jump 50% Over 2011 [TRD]