Empty spaces are widespread and it's a tenant's market, but lease signings are still happening and new businesses are opening.
At least 12 empty storefronts can be found on a three-block stretch of North 6th, just a year after retail was ramping up on the street.
Now that the market has thawed, deals unaffected by COVID are going to get "the best financing you've ever seen," with 10-year fixed loans at rates under 3 percent, he said.
Vacancy rates are top of mind right now for landlords, but prices have dropped and now is a good time to buy, he said.
Potentially, a slowdown could increase housing security for Brooklyn renters in large buildings.
Free from the burden of the L train shutdown, retail spaces in Williamsburg are quickly being filled by tenants more often seen in a shopping mall.
Forget about condos. Developers are banking on Bushwick as the next hotspot for offices.
Developers are swooping into the Bushwick loft district — which the city calls East Williamsburg, and residents sometimes call Morgantown — with plans for oodles of office, retail, and maker spaces.
At least 11 creative office developments are in the works for the area, making it a contender to become the borough’s next Tech Triangle or Dumbo.
When the Jehovah’s Witnesses put three of their prime Brooklyn properties on the market in December, we knew the opportunity would be a siren song for developers large and small. With bids due this week, new details have emerged about the possible uses of the sites, what they might fetch, and who is angling to acquire them.
It’s no secret that Williamsburg’s storefront rents are some of the priciest in the borough, but a new report now reveals they are also some of the priciest in the country.
Williamsburg-based Rabsky Group will soon ink a deal to pay roughly $48,000,000 for a potential-laden warehouse in the Bushwick loft area. Can you guess what they have in store for the site? Not condos!
Rabsky is jumping on the creative-Bushwick bandwagon, joining developers like Bushwack Capital and All Year Management to build commercial space (offices with a dash of retail) in the formerly industrial ‘hood, reported The Real Deal.