TerraCRG released its Brooklyn Commercial Sales Report for the first half of 2013. The total dollar volume in commercial sales was approximately $1.8 billion, with a total of 771 transactions. That’s an 84 percent dollar volume increase compared to the first half of 2012. According to TerraCRG, the largest transaction in the first half of 2013 was the development site at 300 Livingston Street (pictured). TF Cornerstone bought the lot, with a potential of 500,000 buildable square feet, for $70,000,000. There were also 467 combined transactions of multifamily and mixed use properties so far this year, up 22 percent from the same period last year.

Ariel Properties also released its own numbers for the first half of the year. They report that investment property transactions in Brooklyn increased 20 percent and the number of properties sold rose 17 percent in the first half of 2013 compared to the first half of 2012. The report shows gains in multifamily and development site sales, as well: “The vast majority of the year-over-year increase in transaction volume came from strong multifamily sales, which saw a 21 percent increase in transactions, and a resurgence in development site sales, which experienced a 36 percent rise in transactions accompanied by a 65 percent jump in the dollar volume of those trades to $657.4 million.” Also, no surprises here that buyers are increasingly looking toward Bed Stuy and Crown Heights — in the first half of the year Bedford-Stuyvesant, Bushwick, and Crown Heights captured 24 percent of the borough’s transactions, followed by Williamsburg and Greenpoint with 22 percent. The Downtown Brooklyn and Park Slope area dominated dollar volume for the first two quarters, taking a 24 percent share of the $1.43 billion total.


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