Summer 2018 Brooklyn Retail Report

In the summer of 2018, average asking rents for available ground floor retail spaces increased in seven of the 16 Brooklyn corridors analyzed in the Real Estate Board of New York’s (REBNY) Brooklyn Retail Report, when compared to the summer of 2017. Overall, the retail environment in Brooklyn is mixed and market trends have remained favorable in areas that are experiencing increased residential density.  Declines in average asking rents have occurred mostly in more mature neighborhoods where retail rents soared after the financial crisis and now are adjusting downward as smaller property owners become more realistic about the condition of their spaces and their current value.