REBNY Report: Brooklyn Retail | Second Half 2023

Retail leasing activity in Brooklyn throughout the second half of 2023 was “healthy” however, there was a “great deal of divergence in the pace of activity from one neighborhood to another, and even one street to the next” according to the recently released report by the Real Estate Broad of New York (REBNY). Among the fifteen corridors tracked by REBNY, fourteen posted asking rent increases, but asking rents in a majority continue to remain below prepandemic peaks. Brooklyn’s shopping and entertainment destinations, such as City Point and Industry City saw strong retail tenant activity during the 6-month period. Williamsburg continues to attract top international and domestic brands; and the prime residential corridors of Park Slope and Cobble Hill have very few quality spaces available.