Retail asking rents rise across Brooklyn
Barclays Center. AP photo
Average asking rents increased this winter on eight of 15 of Brooklyn’s busiest retail streets compared to year-earlier figures, according to the Real Estate Board of Greater New York.
“Brooklyn is still an emerging market; there’s still a lot of new retail,” Diana Boutross of Cushman & Wakefield told The Real Deal. However, the real estate trade group saw fewer increases compared to the summer, The Real Deal reported. The biggest increase in the borough came from the stretch of Flatbush Avenue from Barclays Center to Grand Army Plaza. The Fulton Mall remained Brooklyn’s most expensive commercial strip.
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