Brooklyn Continues to Sustain a Retail Rally
Since the start of 2025, “Brooklyn’s retail rally has remained on track” despite some turbulence in the wider economy according to the report released in early October by the Real Estate Board of New York (REBNY). The continued limitation of quality storefront options in prime corridors has prompted retail tenants to widen their search geographically. The trend has helped to reduce storefront availability in other corridors. Solid leasing activity has caught the attention of investors, the first half of 2025 seeing more than $200 million in retail investment sales. Some larger sales include the $41 million purchase of the 72,706-square-foot retail condominium at 166 Flatbush Avenue, Flatbush by Parviz Farahzad, the $17.5 million purchase of the 26,624-square-foot retail building at 321 Starr Street, Bushwick by Yale Properties, and the $50 million purchase of the 22,250-square-foot property at 70 North 6th Street, Williamsburg by Acadia Realty Trust. However, the lowering of consumer confidence over the past several months due to a growing uncertainty about the wider economy has prompted some retailers to delay leasing decisions.