Brooklyn, NY Office Space for Lease or Rent

Brooklyn, NY Office Overview

The Brooklyn office market includes the Bedford - Stuyvesant, DUMBO, and Bushwick commercial real estate submarkets. With a metropolitan population of over 2.6 million people, this New York borough is part of the greater New York metropolitan area, which harbors over 14.4 million residents. Known as a preferred location for the back-office operations of companies based in Manhattan’s Financial District, there is consistently strong demand for Class A office space in Brooklyn.

As of mid-2017, the office market in Brooklyn contains nearly 28 million square feet of existing office space in properties larger than 50,000 square feet. The commercial real estate market in Brooklyn is heavily influenced by the national economy and the performance of the nearby New York City and Manhattan business sectors.

Brooklyn, NY Office Inventory Description

Brooklyn is the most populous borough of New York City, so much so that if it were an individual city it would be the third-largest in the country, right behind Chicago and Los Angeles. As part of the New York metropolitan area, Brooklyn contributes its share to the region's over $1.2 trillion in annual gross metropolitan product. Nearly 46% of the office space in Brooklyn is Class A or A+, with Class B office space adding another 49% of inventory to the Brooklyn office market.

The Downtown Brooklyn office market sees some of the strongest demand for Class A office space in the borough. Located along Flatbush Avenue and Fulton Street, the area is home to investment grade office buildings such as One MetroTech Center, Dumbo Heights - 77 Sands Street, and the Brooklyn Renaissance Plaza at 335 Adams Street.

Brooklyn, NY Commercial Inventory Breakdown

Office Spaces

Total: 43,619,608 SF

Data provided by Yardi Matrix, properties over 50k SF, includes office with retail

By square footage range:

50k to 100k SF: 3,704,631 SF / 8.49% of total office
100k to 500k SF: 15,272,662 SF / 35.01% of total office
500k to 1M SF: 12,185,252 SF / 27.94% of total office
> 1M SF: 12,457,063 SF / 28.56% of total office

By class:

Class A: 21,178,245 SF / 48.55% of total office
Class B: 13,959,491 SF / 32% of total office
Class C: 1,844,473 SF / 4.23% of total office

Top 10 Largest Office Buildings

in Brooklyn

Office building	Address	Sqft	Year built
Industry City at Bush Terminal	892 3rd Avenue, 11232	7,050,000	2013
Pacific Park - Site 5	590 Atlantic Avenue, 11238	1,600,000	n/a
Brooklyn Renaissance Plaza	335 Adams Street, 11201	1,476,320	1998
4 MetroTech Center	4 MetroTech Center, 11201	1,330,743	1990
Brooklyn Navy Yard - Building 77	63 Flushing Avenue, 11205	1,000,000	2017
One MetroTech Center	351 Jay Street, 11201	897,012	1990
85 Jay Street	85 Jay Street, 11201	878,010	2021
Pacific Park - B4 Tower	SWC 6th Avenue & Atlantic Avenue, 11217	824,629	n/a
Red Hoek Point	280 Richards Street, 11231	818,000	2020
Atlantic Terminal Office	139 Flatbush Avenue, 11217	771,369	2003

Most Recently-Built Office Buildings

in Brooklyn

Office building	Address	Sqft	Year built
Brooklyn Navy Yard - Building 77	63 Flushing Avenue, 11205	1,000,000	2017
Pioneer Building	41 Flatbush Avenue, 11217	260,865	2017
620 Fulton Street	620 Fulton Street, 11217	132,900	2017
The Jefferson	455 Jefferson Street, 11237	125,000	2017
2361 Nostrand Avenue	2361 Nostrand Avenue, 11210	50,000	2017
815 Broadway	815 Broadway, 11206	50,000	2017
Empire Stores	55 Water Street, 11201	500,000	2016
95 Evergreen	95 Evergreen Avenue, 11206	158,150	2016
160 Van Brunt Street	160 Van Brunt Street, 11231	98,650	2016
Brooklyn Navy Yard - New Lab	19 Morris Avenue, 11205	84,000	2016

Brooklyn, NY Green Office Space

Tenants are increasingly demanding energy-efficient, green office space to lease and developers and office building owners in Brooklyn are doing their best to meet that demand. A great example of a LEED certified office building in Brooklyn is the Brooklyn Navy Yard - Building 77. Located in the Northwestern Brooklyn office submarket, this 1-million- square-foot Class A creative office space building was built in 2017 and is awaiting its LEED Silver certification.

According to the 2017 National Green Building Adoption Index, the percentage of energy- efficient green office buildings increased from just under 5% back in 2005 to about 38% today. While Brooklyn was not one of the 30 markets that were surveyed for the index, its commitment to LEED and EPA Energy Star-certified office buildings and green office space continues to be strong.

Brooklyn, NY’s Top Office-Using Sectors

The Brooklyn commercial real estate and Class A office market is driven largely by the top office-using sectors of high technology, professional business services, media & entertainment, and large corporate back-office users.

High Technology – Livestream, Kickstarter, Etsy, MakerBot, Huge, and Amplify are some of the largest Brooklyn high tech companies and creators of white-collar office employment in Brooklyn.
Business Services – Users of Class A office space in Brooklyn include companies such as the Seamark Group, Rapid Realty, Powers Accounting Machine, and Instaprint.
Media & Entertainment – VICE Media, Brooklyn Media, Gimlet Media, KTAV Publishing House, and Mason Jar Music are just a handful of the many office users in this business sector.
Back Office – Companies creating demand for back office space in Brooklyn include Morgan Stanley and JPMorgan Chase.

Brooklyn Demographics

Population

Total Population2,551,564
Male Population(47.4 %) 1,208,242
Female Population(52.6 %) 1,343,322
Median Age34.60

Income/Financial

Average Household Income$72,054
Median Household Income$45,936
Median Income Under 25$35,942
Median Income 25-44$54,606
Median Income 45-64$51,633
Median Income Over 65$24,383

News

2018 Office Check-In: Top US Markets for Development, Largest Projects of the Year

September 20, 2018

We’re almost halfway through H2 2018, and it’s high time to check up on construction activity, as well as the state of the U.S. office pipeline when compared to previous analyses. Last year around the same time, we looked at top U.S. cities for office delivery during the fall-winter season, and ...

Check Out These Amazing Female-Focused Coworking Spaces

September 12, 2018

Last year, the U.S. dropped to last place on a list female participation in the labor force in leading industrialized economies, falling behind Japan. This development marked a dramatic shift for the U.S., which was in a leading position in the late 1990s―with roughly 76.7% of women ages 25-54 a...

Top US Cities for Office Deliveries During Fall-Winter 2017

September 18, 2017

  As we ease into the fall season, the imminent arrival of the colder months of the year is also fueling office construction in the U.S. Developers are picking up the pace, trying to meet delivery schedules and complete their projects before the year comes to an end. Demand for bigger and b...

Office Space for Rent in Brooklyn, NY - 168 Listings