• Quarterly leasing activity totaled 352,000 sq. ft. during Q4 2019, an 80% increase from Q3.
  • Year-end leasing activity reached 1.82 million sq. ft. in 2019, the highest-ever yearly total.
  • Brooklyn realized 152,000 sq. ft. of positive absorption during Q4, compressing the availability rate by 40 basis points (bps) to 20.8%.
  • Brooklyn’s average asking rent remained relatively unchanged through the fourth quarter, at $43.88 per sq. ft.
  • The Brooklyn construction pipeline remains robust with 2.31 million sq. ft. of projects currently under way.