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: 44,428,520 SF
By square footage range:
- 50k to 100k SF: 3,688,401 SF / 8.3% of total office
- 100k to 500k SF: 14,587,076 SF / 32.83% of total office
- 500k to 1M SF: 13,695,980 SF / 30.83% of total office
- > 1M SF: 12,457,063 SF / 28.04% of total office
By class:
- Class A: 21,611,086 SF / 48.64% of total office
- Class B: 13,939,702 SF / 31.38% of total office
- Class C: 1,844,473 SF / 4.15% 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 |
| Eighth Avenue Center | 6208 8th Avenue, 11220 | 892,860 | n/a |
| 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 |
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
- Bay Ridge Demographics
- Bedford-Stuyvesant Demographics
- Boerum Hill Demographics
- Borough Park Demographics
- Brooklyn Heights Demographics
- Brooklyn Navy Yard Demographics
- Brownsville Demographics
- Bushwick Demographics
- Carroll Gardens Demographics
- Clinton Hill Demographics
- Coney Island Demographics
- Crown Heights Demographics
- Downtown Brooklyn Demographics
- DUMBO Demographics
- East New York Demographics
- Flatbush Demographics
- Fort Greene Demographics
- Gowanus Demographics
- Greenpoint Demographics
- Greenwood Heights Demographics
- Midwood Demographics
- Ocean Hill Demographics
- Park Slope Demographics
- Prospect Heights Demographics
- Red Hook Demographics
- Sheepshead Bay Demographics
- Sunset Park Demographics
- Williamsburg Demographics
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Cities near Brooklyn, NY
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Brooklyn, NY zip codes
- 11201 Office Space
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Neighborhoods
- Bay Ridge Office Space
- Bedford-Stuyvesant Office Space
- Boerum Hill Office Space
- Borough Park Office Space
- Brooklyn Heights Office Space
- Brooklyn Navy Yard Office Space
- Bushwick Office Space
- Clinton Hill Office Space
- Coney Island Office Space
- Crown Heights Office Space
- Downtown Brooklyn Office Space
- DUMBO Office Space
- East Flatbush Office Space
- East New York Office Space
- Flatbush Office Space
- Fort Greene Office Space
- Gowanus Office Space
- Greenpoint Office Space
- Greenwood Heights Office Space
- Homecrest Office Space
- Midwood Office Space
- Ocean Hill Office Space
- Park Slope Office Space
- Prospect Heights Office Space
- Red Hook Office Space
- Sheepshead Bay Office Space
- Sunset Park Office Space
- Vinegar Hill Office Space
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Cities near Brooklyn, NY
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