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Brooklyn Retail Didn’t Have the Hottest Summer

NEW YORK CITY—Results on rent growth were mixed, according to a new REBNY report, with seven out of 15 corridors seeing little or no change.

John Banks III John Banks, III: “Retail real estate continues to be strong in demand in Brooklyn.”

NEW YORK CITY—Price growth for available ground floor retail space in Brooklyn’s top retail corridors improved just modestly this Summer, with average asking rents increasing in eight of the 15 surveyed corridors compared to last year, according to the Real Estate Board of New York’s newest Brooklyn Retail Report.

The remaining seven corridors experienced either small decreases or no change at all. The strongest rent growth occurred in areas with new residential development and the potential for increased residential density.

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Rayna Katz

Rayna Katz

Rayna Katz is a seasoned business journalist whose extensive experience includes coverage of the lodging sector, travel and the culinary space. She was most recently content director for a business-to-business publisher, overseeing four publications. While at Meeting News, a travel trade publication, she received a Best Reporting award for a story on meeting cancellations in New Orleans during Hurricane Katrina.

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