Demand for commercial office space remains high, Downtown Brooklyn Partnership report says
The demand for high-quality commercial office space remains high in Downtown Brooklyn, even as a torrid residential building boom and cultural revival continue, according to the Q1/Q2 2015 Real Estate Market Report released Thursday by the Downtown Brooklyn Partnership, a not-for-profit development corporation.
With the commercial office vacancy rate at 3.4 percent, New York City’s lowest, the need for more high-quality office space in Downtown Brooklyn is greater than ever, the report said. Much of the 17 million square feet of commercial office space in the district remained occupied over the last two quarters and the limited inventory that became available was quickly absorbed.