Figures
Brooklyn Office Figures Q1 2025
April 15, 2025 10 Minute Read
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‒Leasing activity totaled 509,000 sq. ft. in Q1 2025, up 83% from the prior quarter and up 136% from the five-year quarterly average.
‒The availability rate increased 110 basis points (bps) from the previous quarter to 20.8% and was up 40 bps year-over-year.
‒Absorption totaled negative 322,000 sq. ft. in Q1 2025.
‒The average asking rent was $54.08 per sq. ft., down 1% from the prior quarter but flat year-over-year.
‒The sublease availability rate fell 10 bps from the prior quarter to 1.7% and represented 8% of all available space.