NEW YORK CITY—The commercial investment sales market in Brooklyn for the first six months of this year easily surpassed activity posted for the same period last year. In fact, King's County saw a $2-billion increase in sales.

Brokerage firm TerraCRG reports that the 1,011 transactions involving multi-family, mixed-use, development, retail, industrial/office and other properties in Brooklyn totaled $5.13 billion for the first six months of 2015, a 61% increase from the nearly $3.19 billion posted in the first two quarters of 2014.

Ofer Cohen, founder and president of TerraCRG, says the number of transactions over $10 million almost doubled from 68 transactions in the first half of 2014 to 113 in the first half of 2015. The average transaction size in the first half of 2015 rose to $5.08 million from the $3.15 million average posted in the first half of 2014. Multifamily transactions in Brooklyn accounted for more than 38% of the total dollar volume for the first half of 2015, and had the highest number of sales of all asset classes, Cohen notes.

He notes that the strong transaction volume speaks to the strong growth in institutional investment activity in Brooklyn in 2015.

The North Brooklyn region had the highest dollar volume within both the mixed-use and development categories, as well as having the largest mixed-use trade and largest transaction of the first half of the year with the $275-million sale of 184 Kent Ave. in Williamsburg.

Central Brooklyn had the highest number of retail sales and dollar volume of all regions in Brooklyn, with 15 sales totaling $109 million.

The industrial-office category had the largest increase in dollar volume, doubling from $296 million in the first half of 2014 to more than $631million during the same period in 2015.