Winter 2020 Brooklyn Retail Report

In winter 2020, average asking rents for ground floor retail spaces decreased in 9 of the 12 Brooklyn corridors analyzed by the Real Estate Board of New York (REBNY) when compared to the winter of 2019. Overall, major Brooklyn retail corridors continue to observe stabilizing rents from peak levels as owners are better positioning their spaces to meet tenant expectations. Historical trends reflect the changing identities of certain retail corridors in areas experiencing increased density from residential, commercial, and mixed-use developments.