REBNY Releases Winter 2022 Brooklyn Retail Report

Despite challenges fueled by the Omnicron surge this past winter; continued supply chain issues; and other cost pressures such as staffing shortages, Brooklyn’s retail sector continued leasing activity with several corridors registering “significant tightening” during the last six months according to the Winter 2022 Brooklyn Retail Report recently released by the Real Estate Board of New York (REBNY). The borough’s expanding residential base has been an essential steadying force for the retail sector, a majority of the corridors seeing slight increases in posted asking rents; however, they remain below pre-pandemic peak in 16 of the 17 corridors studied by REBNY.