Brooklyn could be Downtown alternative

By Tom Acitelli, The Real Deal

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

Sign Up for the undefined Newsletter

By signing up, you agree to TheRealDeal Terms of Use and acknowledge the data practices in our Privacy Policy.

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.