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New York

Brooklyn could be Downtown alternative

By Tom Acitelli, The Real Deal

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Downtown Brooklyn may become an office space alternative for companies priced out of the scorching Midtown market, according to one brokerage executive.

With Downtown Manhattan struggling commercially, Downtown Brooklyn could be a Plan B to companies that can’t afford Midtown, said Ken Krasnow, executive managing director for the New York metro region at Cushman & Wakefield. Krasnow made his comments Tuesday during a Cushman & Wakefield market report breakfast that showed Midtown’s total vacancy rate for the second quarter at 9.2 percent, even tighter than the previous quarter, when the vacancy rate was 9.8.
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