Downtown Brooklyn named next office hot spot

New York /
Sep.September 04, 2013 02:31 PM

Downtown Brooklyn is the next neighborhood for rising office rents. Or so says the largest group of more than 100 prominent commercial real estate folks surveyed by public accountants Marks Paneth & Shron between January and July of this year.

Brooklyn, long an uber trendy spot to live, “may soon be the ‘hot’ place to office,” William Jennings, partner-in-charge of Marks Paneth & Shron said in a statement.

A 17 percent chunk of respondents chose Downtown Brooklyn over Hell’s Kitchen and the Garment District — areas poised to turn extra pricey as neighboring Hudson Yards is completed — as the next New York City spot where rents are likely to soar. The Midtown runner-ups pulled 16 percent of the vote each.

That said, survey participants dubbed Hudson Yards the development most likely to have a positive, long-term effect on property values. The Related Companies and Oxford Properties’ monster West Side development snatched the title with 34 percent of the votes, followed by the Second Avenue Subway project with 28 percent and Long Island Railroad’s East Side Access to Grand Central with 20 percent. [NYO]Julie Strickland


Related Articles

arrow_forward_ios
(Image by Wolfgang & Hite via Dezeen)
Hudson Yards megadevelopment inspires a new line of sex toys
Hudson Yards megadevelopment inspires a new line of sex toys
Facebook CEO Mark Zuckerberg and Hudson Yards (Credit: Getty Images and Wikipedia)
Facebook close to finalizing Hudson Yards office deal: report
Facebook close to finalizing Hudson Yards office deal: report
SL Green’s locks in big bank lease at Hudson Yards redevelopment site
SL Green’s locks in big bank lease at
Hudson Yards redevelopment site
SL Green’s locks in big bank lease at
Hudson Yards redevelopment site
7 DeKalb Avenue with Avanath Capital Management CEO Daryl Carter and Daniel Brodsky (Brodsky, Avanath Capital, Getty)
Brodsky selling DoBro apartments for $100M
Brodsky selling DoBro apartments for $100M
Mark Zuckerberg with 55 and 30 Hudson Yards
Meta to cut Hudson Yards office space
Meta to cut Hudson Yards office space
 Related Companies’ Stephen Ross and Brookfield’s Brian Kingston (Illustration by The Real Deal; Getty)
Mapping out the explosion of commercial development in Hudson Yards
Mapping out the explosion of commercial development in Hudson Yards
30 Front Street and 593 11th Street (StreetEasy, Google Maps)
In election week, Olympia Dumbo emerges as winner
In election week, Olympia Dumbo emerges as winner
Pink Stone's Richard Ohebshalom with 180 Nassau Street (Rich Ohebshalom, Google Maps, Getty)
Pink Stone faces foreclosure on DoBro rental building
Pink Stone faces foreclosure on DoBro rental building
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...