Brooklyn, NY
Average Home Prices
Average Home Statistics
In Terms ofAverage Home Prices
Per Square Feet
Commercial Real Estate In Brooklyn, NY
Real Estate Statistics for Brooklyn Commercial Real Estate
| Median Price/sqft | $465 |
| Sales Volume | $6.0 Billion |
| Transactions | 1, 786 |
| Total sqft | 14 Million |
| Sales volume by property type | |
| Multifamily | 55.5% |
| Retail | 13.4% |
| Industrial | 10.7% |
| Office | 5.2% |
| Other | 15.1% |
One of New York City’s five boroughs, Brooklyn is a thriving and dynamic hub for commercial real estate. Its prime location close to Manhattan, colorful cultural tapestry, and rapid development makes it a fine place for investors, entrepreneurs, and businesses to explore, whether they are seeking to establish or expand their presence in New York City and the northeastern coast.
This guide explores Brooklyn’s commercial real estate market, popular neighborhoods, and the advantages of investing in this bustling borough.
Welcome to Brooklyn
Brooklyn is located on the westernmost tip of Long Island, bordered by Queens to the east, Jamaica Bay to the southeast, and the Upper Bay to the west. The East River flows northwest of the borough, and across it lies Manhattan. To the south, Brooklyn meets the Atlantic Ocean. This strategic location places Brooklyn at the crossroads of commerce and culture in New York City.
Facts About Brooklyn |
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| Total Area | Approximately 97 square miles |
| Population | Over 2.7 million people, the most populous of New York City’s five boroughs |
| Transportation | A vast network of subway lines and bus routes, offering easy access to the rest of New York City. Bridges such as the Brooklyn Bridge and the Verrazano-Narrows Bridge connect it to Manhattan and Staten Island. |
Historically, Brooklyn was an independent city until 1898, when it merged with Manhattan and other boroughs to form modern-day New York City. Since then, it has evolved from its roots as a shipbuilding and industrial hub into a trendy borough marked by economic revitalization, urban redevelopment, and an ever-growing skyline.
The recent decades have seen Brooklyn transform into a leading destination for tech companies, startups, and creative industries, thanks to its proximity to Manhattan and relatively affordable real estate. As a result, commercial real estate development surged in many areas, especially in north Brooklyn in neighborhoods like Williamsburg, Greenpoint and Bushwick. And the growth continues, meeting the demands of small businesses, major players, and Brooklyn’s expanding economy.
Commercial Real Estate in Brooklyn
The commercial real estate market in Brooklyn is made up of a range of property types available to suit various business needs, from warehouse conversions and mixed-use developments to retail spaces and office buildings. And as business applications continue to increase in Brooklyn, the local commercial realty market continues to see rapid growth and new developments.
Once dominated by industrial spaces, areas like Williamsburg, Greenpoint and Bushwick are now thriving with modern office spaces, tech startups, and creative firms. The market offers a diverse range of opportunities, from warehouses and mixed-use developments to retail spaces and co-working office buildings. Demand for retail, office, industrial, and mixed-use properties remains strong, driven by Brooklyn’s unique blend of innovation, entrepreneurship, and vibrant community life.
Types of Commercial Properties
Warehouse and Industrial Spaces: Brooklyn has a long history of industrial use, and many of its neighborhoods, such as Red Hook and East Williamsburg, still feature ample warehouse and industrial properties. Larger properties were often converted into retail such as new bars and restaurants, providing a new vibrant nightlife scene. Bigger properties are converted into creative studios and distribution centers or redeveloped into residential buildings.
Retail Spaces: The borough’s thriving commercial corridors, such as Manhattan Avenue in Greenpoint and Bedford Avenue in Williamsburg, are home to many retail opportunities.
Development Sites: As a borough with rapidly increasing demand for both residential and commercial real estate, Brooklyn offers prime development sites. Many areas are undergoing rezoning, allowing for the construction of mixed-use buildings that combine residential, retail, and office spaces.
Office Spaces: Brooklyn has seen a rise in demand for office spaces, especially in tech-centric neighborhoods like DUMBO and Downtown Brooklyn. With a growing number of startups, creative agencies, and co-working spaces, office real estate is becoming a major component of the borough’s commercial landscape.
Land: The proximity to Manhattan and the metropolitan area in general has created huge demand for companies seeking vacant lots to park their trucking fleets. Last-mile logistics and frequent delivery trends have seen a surge in the demand for vacant land.
Where to Invest in Brooklyn
Brooklyn’s commercial real estate market is increasingly seen as a prime investment destination due to its affordability, growing population, and economic diversification. The borough’s rise as a tech and creative industry hub has drawn significant interest from investors, both local and international.
Additionally, rezoning initiatives and ongoing development projects are unlocking new opportunities for commercial real estate development across a wide range of sectors. To make the most out of your CRE exploration, consider the following neighborhoods and districts:
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WilliamsburgWilliamsburg is Brooklyn’s epicenter of cool, renowned for its artistic vibe, trendy boutiques, and vibrant nightlife. The neighborhood has undergone significant gentrification over the past two decades, transforming into a hub for creative industries, tech startups, and boutique retail. Along Williamsburg’s waterfront, sleek residential and mixed-use developments have risen, offering prime commercial real estate opportunities. Converted industrial spaces now feature innovative office spaces, galleries, and unique retail shops, all of which make Williamsburg a magnet for entrepreneurs and businesses who want an edgy yet upscale location.
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GreenpointOriginally a Polish enclave, Greenpoint retains much of its cultural heritage with traditional bakeries, shops, and restaurants dotting the streets. Over the past decade, however, the neighborhood has seen an influx of new development, particularly along the waterfront, where luxury condos and mixed-use buildings are rising. The neighborhood’s industrial roots offer unique opportunities for commercial real estate, with converted warehouses now home to creative offices, studios, bars, restaurants and boutique retail. Though Greenpoint is quieter than its trendy neighbor, Williamsburg, it shares the same artistic and entrepreneurial spirit. Investors are drawn to Greenpoint’s expanding commercial corridors, especially with new retail, office, and residential projects reshaping the neighborhood’s landscape while preserving its historic feel.
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BushwickOften compared to Williamsburg, Bushwick possesses a similar vibe that leans creative. This edgy and rapidly evolving neighborhood is host to an artistic community, to which Bushwick’s street art and industrial-chic vibe are often attributed to. Historically a working-class area, Bushwick has seen a surge of new development, particularly in the commercial real estate sector. Artists’ studios, galleries, and trendy bars have moved into warehouses, and the neighborhood is increasingly attracting new companies, tech startups, and creative agencies looking for affordable and spacious work spaces. With its proximity to Williamsburg and a growing food and nightlife scene, Bushwick is becoming a hotspot for commercial investments, especially for those seeking unique, unconventional spaces.
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Red HookRed Hook offers a distinct blend of industrial grit and waterfront charm, making it one of Brooklyn's more unconventional commercial real estate markets. Once a bustling shipping port, the neighborhood retains its industrial roots with warehouses and maritime infrastructure, but it's also becoming a hub for artisanal businesses, creative studios, and small manufacturers. Red Hook’s relative isolation and scenic waterfront views give it a laid-back, almost remote feel, yet it’s increasingly drawing attention from investors looking for raw, untapped potential. With its growing number of boutique shops, restaurants, and creative spaces, Red Hook offers unique opportunities for those seeking to develop or invest in industrial and mixed-use properties.
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East WilliamsburgEast Williamsburg is emerging as a vibrant extension of the neighboring Williamsburg area, known for its blend of industrial spaces and creative businesses. This neighborhood is experiencing a surge in demand from tech startups, artists, and small business owners who are drawn to its relatively affordable commercial spaces compared to prime Williamsburg. The area is seeing an influx of industrial-to-commercial conversions, where former factories and warehouses are transformed into modern office spaces, co-working hubs, and retail shops. Investors looking to get in on the ground floor of this rapidly developing area can benefit from lower prices while still capitalizing on the proximity to Williamsburg and its booming creative industries.
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East New YorkEast New York is one of Brooklyn's most exciting emerging markets for commercial real estate, thanks to city-backed initiatives aimed at revitalizing the neighborhood. As part of the East New York Neighborhood Plan, significant investments are being made in infrastructure improvements, affordable housing, and mixed-use developments. This has sparked renewed interest from developers and investors alike, with a growing number of commercial projects, including new retail spaces, warehouses, and offices. The availability of industrial properties makes East New York attractive to businesses needing larger spaces, such as logistics companies or manufacturers. Investors can take advantage of competitive pricing in this neighborhood, with the potential for high returns as redevelopment projects progress and the area becomes increasingly attractive to commercial tenants and residents alike.
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Ridgewood, QueensLocated just across the Brooklyn border, Ridgewood in Queens has gained popularity as an affordable alternative to some of Brooklyn's pricier neighborhoods.. While technically in Queens, Ridgewood offers easy access to Brooklyn’s commercial hubs and has a similar industrial and creative vibe, making it a compelling option for businesses and investors. The neighborhood features a mix of industrial buildings, warehouses, and retail spaces, often at more competitive prices than its Brooklyn counterparts. Ridgewood is becoming known for its growing population of young professionals and artists, drawn to its relatively affordable residential options and expanding commercial scene. Investors looking for an area poised for growth can find excellent opportunities in Ridgewood, with the potential to benefit from both Queens' and Brooklyn's continued development and demand for flexible commercial spaces.
Why Should You Invest in Brooklyn Commercial Real Estate?
Brooklyn’s commercial real estate market continues to thrive, driven by a combination of economic growth, infrastructure development, and rising property values. As the borough evolves, it has become a hotspot for tech, creative industries, and investors seeking strong returns in a vibrant, strategically located area.
Economic growth and diversification. Brooklyn has become a hub for tech and creative industries, with neighborhoods attracting startups, design firms, and media companies. The Tech Triangle—comprising DUMBO, Downtown Brooklyn, and the Brooklyn Navy Yard—has become a magnet for tech companies and creative agencies, with its blend of industrial and office spaces available at more competitive rates than Manhattan.
Infrastructure development and rezoning initiatives. Brooklyn’s ongoing infrastructure development and rezoning efforts have further enhanced its appeal to real estate investors. Also, several rezoning initiatives have paved the way for more flexible land use, allowing developers to create large-scale residential and commercial projects. Some areas have been rezoned to encourage mixed-use developments, combining office spaces, residential units, retail stores, and restaurants.
Rising property values and strong ROI. Property values in the borough have steadily increased over the last decade. Commercial property investors are particularly drawn to the borough’s potential for strong Return on Investment (ROI). Brooklyn’s retail corridors and office markets remain strong, and the borough’s continued growth suggests that property values will keep appreciating over time.
Cultural and lifestyle appeal. Brooklyn’s cultural vibrancy and lifestyle appeal make it a desirable place to live and work, further boosting the demand for commercial real estate. The borough is home to world-class cultural institutions, thriving arts scenes, and trendy dining and shopping destinations, which draw not only residents but also tourists from around the world.
Strategic location and connectivity. Brooklyn’s strategic location as the gateway to Manhattan and other boroughs adds to its attractiveness for real estate investors. The borough’s excellent transportation network, including subway lines, buses, and ferry services, ensures connectivity with the rest of New York City. The ease of commuting has made these areas prime locations for businesses that need close proximity to Manhattan but prefer more affordable rents and a more dynamic, community-oriented environment.
DOING BUSINESS IN BROOKLYN
Brooklyn offers an exceptional blend of urban convenience, cultural richness, and community charm, making it not only a great place to live but also a thriving hub for businesses. The borough’s distinct neighborhoods each contribute to a dynamic commercial landscape, where businesses of all sizes can thrive amidst vibrant shopping districts, popular dining destinations, and scenic parks. Here are some highlights for those ready to invest in commercial real estate in Brooklyn.
Great Environment for Small Businesses
Brooklyn has become a hub for small businesses, from artisanal food producers to fashion designers and tech startups. Mixed-use developments are becoming more common, combining residential, retail, and office spaces to meet the needs of the borough’s growing population. Local programs and organizations, such as the Brooklyn Chamber of Commerce and various business improvement districts (BIDs), provide resources and support to help small businesses grow and succeed.
Accessibility to the Rest of NYC
Brooklyn’s accessibility through excellent public transportation makes it an ideal location for commercial enterprises seeking proximity to Manhattan without the high costs. Brooklyn is well-connected to the rest of New York City through a network of subway lines, buses, and ferries.
Several major subway lines, including the A, C, F, L, M, N, and R trains, run through Brooklyn, providing easy access to Manhattan, Queens, and other parts of the city. The East River ferries also offer a scenic commute, connecting waterfront neighborhoods like Williamsburg and DUMBO to Manhattan. Additionally, Brooklyn is serviced by the Long Island Rail Road (LIRR), making it convenient for residents and businesses to travel to Long Island and beyond.
Parks and Outdoor Recreation
Brooklyn’s iconic parks not only enhance the quality of life for residents and visitors but also serve as key attractions that drive possible customers to nearby commercial properties.
One of the newest and most exciting additions is Domino Park, located along the East River in Williamsburg. Built on the site of the former Domino Sugar Refinery, this 5-acre park features stunning waterfront views of Manhattan, beautifully landscaped gardens, a playground, sports fields, and an elevated walkway that showcases the area’s industrial history. Its proximity to thriving commercial spaces and creative hubs makes it a major draw for businesses looking to invest in Williamsburg’s evolving market.
Another Brooklyn staple is Prospect Park, a 526-acre green space designed by the architects of Central Park, draws large crowds with its walking trails, sports facilities, and the popular Prospect Park Zoo. Nearby commercial real estate benefits from this steady influx of visitors, creating opportunities for retail, dining, and recreational businesses.
Then there’s Brooklyn Bridge Park, with its breathtaking views of Manhattan and the Brooklyn Bridge, is another prime area for commercial development, attracting both locals and tourists. Its proximity to playgrounds, sports fields, and picnic areas increases demand for nearby retail and dining spaces. Other parks, such as Fort Greene Park, Marine Park, and McCarren Park, offer a mix of recreational amenities, making them ideal locations for businesses that cater to the active, family-oriented demographic.
Buzzing Cultural Hub
Brooklyn’s cultural and artistic influence cannot be overstated. The borough is home to world-renowned institutions such as the Brooklyn Museum, the Brooklyn Academy of Music (BAM), and the Barclays Center, which hosts major concerts and sporting events. Additionally, Brooklyn’s street art scene and annual cultural festivals such as the Brooklyn Film Festival and Smorgasburg contribute to its reputation as one of the most lively and flourishing places in the world. These cultural centers mean a continued need for nearby businesses.
Unlock Commercial Real Estate Opportunities in Brooklyn with KRG
Partnering with an experienced commercial real estate agency in Brooklyn such as Knickerbocker Realty Group (KRG) provides valuable local expertise, access to off-market deals, strong negotiation skills, and in-depth knowledge of zoning and market trends, helping you make informed investment decisions and maximize returns.
The KRG team is dedicated to helping clients find the perfect commercial property for either lease or purchase. They are experienced real estate owners and property managers with creative solutions and targeted marketing strategies. With a proven track record of success, KRG is your trusted partner in Brooklyn commercial real estate.
For a personalized consultation, get in touch with us at 718.928.0300 or email us here.