www.crainsnewyork.com Open in urlscan Pro
2606:4700::6810:9532  Public Scan

Submitted URL: https://r20.rs6.net/tn.jsp?f=001VWTghboaYWUdcPTI2G2YcyYEc1X47bRV2QKQKlsgYfpfchVE5wi8KoPCBA1SG63YLQXqGHzssmf6qqmlvU2D...
Effective URL: https://www.crainsnewyork.com/commercial-real-estate/brooklyn-real-estate-investment-sales-surpass-2019-levels-despite-pandemic
Submission: On January 27 via api from CH — Scanned from DE

Form analysis 3 forms found in the DOM

GET /search

<form action="/search" method="get" id="views-exposed-form-search-autocomplete-page" accept-charset="UTF-8" data-once="form-updated" data-drupal-form-fields="edit-search-phrase">
  <div class="form--inline clearfix">
    <div class="js-form-item form-item js-form-type-textfield form-type-textfield js-form-item-search-phrase form-item-search-phrase form-no-label">
      <span class="field-prefix">
        <div class="elastic-autocomplete-mobile-search-icon-wrapper"><a class="elastic-autocomplete-mobile-search-icon" href="#"><i class="fa fa-search omnitrack" aria-hidden="true"></i></a></div>
        <div class="elastic-autocomplete-field-wrapper">
          <input class="elastic-autocomplete-input form-autocomplete form-text ui-autocomplete-input" placeholder="Search" data-drupal-selector="edit-search-phrase" data-autocomplete-path="/admin/view_content/search_autocomplete" type="text"
            id="edit-search-phrase" name="search_phrase" value="" size="30" maxlength="128" data-once="autocomplete" autocomplete="off">
          <span class="field-suffix"><a href="#" class="elastic-autocomplete-search-icon"></a></span>
        </div>
      </span>
    </div>
    <input data-drupal-selector="edit-field-emphasis-image" type="hidden" name="field_emphasis_image" value="">
    <input data-drupal-selector="edit-sort-by" type="hidden" name="sort_by" value="search_api_relevance">
    <div data-drupal-selector="edit-actions" class="form-actions js-form-wrapper form-wrapper" id="edit-actions"><input data-drupal-selector="edit-submit-search-autocomplete" type="submit" id="edit-submit-search-autocomplete" value="Search"
        class="button js-form-submit form-submit">
    </div>
  </div>
</form>

POST /commercial-real-estate/brooklyn-real-estate-investment-sales-surpass-2019-levels-despite-pandemic

<form class="newsletter-widget-signup-form--1" data-drupal-selector="newsletter-widget-signup-form-1" action="/commercial-real-estate/brooklyn-real-estate-investment-sales-surpass-2019-levels-despite-pandemic" method="post"
  id="newsletter-widget-signup-form-1" accept-charset="UTF-8" data-once="form-updated" data-drupal-form-fields="edit-newsletter-email,edit-newsletter-button">
  <div class="js-form-item form-item js-form-type-textfield form-type-textfield js-form-item-newsletter-email form-item-newsletter-email">
    <label for="edit-newsletter-email">Email Address</label>
    <input class="form-email form-text" data-drupal-selector="edit-newsletter-email" type="text" id="edit-newsletter-email" name="newsletter_email" value="" size="60" maxlength="128">
    <span class="field-suffix">
      <div class="result_message newsletter_error"></div>
    </span>
  </div>
  <input class="omnitrack button js-form-submit form-submit" data-omnilink="inline-realestate-monday" data-omnilocation="newsletter-component" data-omnievent="event10" data-drupal-selector="edit-newsletter-button" data-disable-refocus="true"
    type="submit" id="edit-newsletter-button" name="op" value="Submit" data-once="drupal-ajax">
  <div data-drupal-selector="edit-captcha" class="captcha"><input data-drupal-selector="edit-captcha-sid" type="hidden" name="captcha_sid" value="65623571">
    <input data-drupal-selector="edit-captcha-token" type="hidden" name="captcha_token" value="_6lBC2QpHOfyvWSAP5ksDs2EbSri_I1qMexT5_DnxuQ">
    <input data-drupal-selector="edit-captcha-response" type="hidden" name="captcha_response" value="Google no captcha">
    <div class="g-recaptcha" data-sitekey="6LddM-oZAAAAAL3-3V972vvwLyB_bHrM-eJrs5w7" data-theme="light" data-type="image">
      <div style="width: 304px; height: 78px;">
        <div><iframe title="reCAPTCHA"
            src="https://www.google.com/recaptcha/api2/anchor?ar=1&amp;k=6LddM-oZAAAAAL3-3V972vvwLyB_bHrM-eJrs5w7&amp;co=aHR0cHM6Ly93d3cuY3JhaW5zbmV3eW9yay5jb206NDQz&amp;hl=en&amp;type=image&amp;v=TDBxTlSsKAUm3tSIa0fwIqNu&amp;theme=light&amp;size=normal&amp;cb=3l9mm1ick9ru"
            width="304" height="78" role="presentation" name="a-u0slqvqd37hd" frameborder="0" scrolling="no" sandbox="allow-forms allow-popups allow-same-origin allow-scripts allow-top-navigation allow-modals allow-popups-to-escape-sandbox"></iframe>
        </div><textarea id="g-recaptcha-response" name="g-recaptcha-response" class="g-recaptcha-response"
          style="width: 250px; height: 40px; border: 1px solid rgb(193, 193, 193); margin: 10px 25px; padding: 0px; resize: none; display: none;"></textarea>
      </div><iframe style="display: none;"></iframe>
    </div><input data-drupal-selector="edit-captcha-cacheable" type="hidden" name="captcha_cacheable" value="1">
  </div>
  <input data-drupal-selector="edit-newsletter-parameters" type="hidden" name="newsletter_parameters"
    value="inline-realestate-monday Submit https://home.crainsnewyork.com/clickshare/extAPI1ChangeServicesAdd.do selection.RealEstateAlertNewsletter=Y&amp;CSCpn=NewsletterV1">
  <input autocomplete="off" data-drupal-selector="form-cozh-ic7wrqyymoh9gienrdmmppr5uoyuogzbm1otmq" type="hidden" name="form_build_id" value="form-cOzH-ic7wrQyYMOh9gieNRdmmPpR5UoYuOgzbm1oTMQ">
  <input data-drupal-selector="edit-newsletter-widget-signup-form-1" type="hidden" name="form_id" value="newsletter_widget_signup_form _1">
  <input data-drupal-selector="edit-field-emphasis-image" type="hidden" name="field_emphasis_image" value="">
</form>

POST /commercial-real-estate/brooklyn-real-estate-investment-sales-surpass-2019-levels-despite-pandemic

<form class="newsletter-signup-form" data-drupal-selector="newsletter-signup-form" action="/commercial-real-estate/brooklyn-real-estate-investment-sales-surpass-2019-levels-despite-pandemic" method="post" id="newsletter-signup-form"
  accept-charset="UTF-8" data-once="form-updated" data-drupal-form-fields="edit-newsletter-email--2,edit-newsletter-button--2">
  <div class="js-form-item form-item js-form-type-textfield form-type-textfield js-form-item-newsletter-email form-item-newsletter-email">
    <label for="edit-newsletter-email--2">Email Address</label>
    <input class="form-email form-text" data-drupal-selector="edit-newsletter-email" type="text" id="edit-newsletter-email--2" name="newsletter_email" value="" size="60" maxlength="128">
  </div>
  <input class="omnitrack button js-form-submit form-submit" data-omnilink="footer" data-omnilocation="newsletter-component" data-omnievent="event10" data-drupal-selector="edit-newsletter-button" type="submit" id="edit-newsletter-button--2" name="op"
    value="Sign Up Here">
  <input data-drupal-selector="edit-newsletter-parameters" type="hidden" name="newsletter_parameters" value="Sign Up Here https://home.crainsnewyork.com/clickshare/changeServicesAdd.do CSActivate=true footer">
  <input autocomplete="off" data-drupal-selector="form-5jnpv3ebc0bg6dljoaio2s3pyzqxthnrlwpmx1olumu" type="hidden" name="form_build_id" value="form-5jnPV3ebC0bg6DljoAIo2S3pYZqxThnrlWPmx1OluMU">
  <input data-drupal-selector="edit-newsletter-signup-form" type="hidden" name="form_id" value="newsletter_signup_form">
  <input data-drupal-selector="edit-field-emphasis-image" type="hidden" name="field_emphasis_image" value="">
</form>

Text Content

Menu
Menu
 * News & Data
 * Politics
 * Real Estate
 * Health Care
 * Technology
 * Special Reports
 * Upcoming Events
 * Custom Content
 * Multimedia
 * People/Company Moves

 * ADVERTISE
 * EVENTS
 * NEWSLETTERS
 * NOMINATE
 * PEOPLE/COMPANY MOVES

News & Data
 * Latest News
 * Climate Change
 * Covid-19
 * Finance
 * Hospitality & Tourism
 * Small Business
 * Transportation
 * Data & Lists
   * See the lists
   * 2022 Book of Lists
   * Data Center
   * Data List Subscription
   * Data Scoop
 * Viewpoints
   * In the Markets
   * Op-Eds
   * Editorials
   * Letters to the Editor
   * How to submit
 * More
   * Arts
   * Asked & Answered
   * Economy
   * Entertainment
   * Gotham Gigs
   * Nonprofits
   * NYC Champions
   * NY's Comeback
   * Professional Services

Politics
 * Latest News

Real Estate
 * Latest News
 * Commercial Real Estate
 * Residential Real Estate
 * Deals of the Day

Health Care
 * Latest News
 * Health Pulse
 * Health Pulse Extra
 * Subscribe to Health Pulse
 * Health Pulse Pro Corporate Membership

Technology
 * Latest News

Special Reports
 * Diversity & Inclusion
 * Nominations
 * 2021 Hall of Fame
 * 40 Under 40
 * 20 in Their 20s
 * Best Places to Work
 * Fast 50
 * Stats and the City
 * Most Powerful Women
 * Notable Series
 * Coolest Offices
 * Rising Stars in Real Estate
 * Rising Stars in Banking & Financing

Custom Content
 * Luxury Homes
 * Quick Take
 * Nonprofit Gala Guide
 * TD Bank Supports a Thriving NYC Presence
 * 2021 Empire Whole Health Awards
 * Spotlight on Long Island
 * Contributing Partners
 * Ask the Expert
 * Roundtable Discussions
 * CFO Forecast 2022
 * 2022 Meeting and Event Planners Guide
 * CIO of the Year 2021

Multimedia
 * Photo Galleries
 * SNAPS
 * Sponsored Photo Galleries
 * Videos
 * Webcast Archives

Skip to main content


FREE WEBCAST: COVID-19 SCREENING STRATEGIES TO GET YOUR BUSINESS REOPENED

Free Webcast: Covid-19 Screening Strategies to Get Your Business Reopened
Employ strategies to safely bring your employees back to work, in-person.
Close
Sister Publication Links
 * ADVERTISE
 * EVENTS
 * NEWSLETTERS
 * NOMINATE
 * PEOPLE/COMPANY MOVES


Subscribe
 * My Account
 * Login
 * Subscribe

 * News & Data
    * Latest News
    * Climate Change
    * Covid-19
    * Finance
    * Hospitality & Tourism
    * Small Business
    * Transportation
    * Data & Lists
    * Viewpoints
    * More
   
   See the lists 2022 Book of Lists Data Center Data List Subscription Data
   Scoop
   
   In the Markets Op-Eds Editorials Letters to the Editor How to submit
   
   Arts Asked & Answered Economy Entertainment Gotham Gigs Nonprofits NYC
   Champions
   NY's Comeback Professional Services

 * Politics
    * Latest News
   
   
 * Real Estate
    * Latest News
    * Commercial Real Estate
    * Residential Real Estate
    * Deals of the Day
   
   
 * Health Care
    * Latest News
    * Health Pulse
    * Health Pulse Extra
    * Subscribe to Health Pulse
    * Health Pulse Pro Corporate Membership
   
   
 * Technology
    * Latest News
   
   
 * Special Reports
    * Diversity & Inclusion
    * Nominations
    * 2021 Hall of Fame
    * 40 Under 40
    * 20 in Their 20s
    * Best Places to Work
    * Fast 50
    * Stats and the City
    * Most Powerful Women
    * Notable Series
    * Coolest Offices
    * Rising Stars in Real Estate
    * Rising Stars in Banking & Financing
   
   
 * More +
    * Upcoming Events
    * Custom Content
    * Multimedia
    * People/Company Moves
   
   Luxury Homes Quick Take Nonprofit Gala Guide TD Bank Supports a Thriving NYC
   Presence 2021 Empire Whole Health Awards Spotlight on Long Island
   Contributing Partners
   Ask the Expert Roundtable Discussions CFO Forecast 2022 2022 Meeting and
   Event Planners Guide CIO of the Year 2021
   
   Photo Galleries SNAPS Sponsored Photo Galleries Videos Webcast Archives



MENU
Breadcrumb
 1. Home
 2. Commercial Real Estate



January 18, 2022 01:46 PM


BROOKLYN INVESTMENT SALES SURPASS 2019 LEVELS, REPORT SAYS

Eddie Small
 * Tweet
 * Share
 * Share
 * Email
 * More
   

Reprints Print
Bloomberg


Brooklyn’s commercial real estate market was busier last year than in 2019,
despite the pandemic.

There were 1,198 deals worth more than $6.1 billion overall last year,
respective increases of 47% and 36% compared with 2020, according to a report
from TerraCRG. Both numbers also were up compared with 2019, when there were 953
deals worth $5.2 billion overall.

The real estate industry seemed to get more confident as the year went on, with
58% of deals—accounting for 70% of the total dollar volume—happening in the
second half of the year. The fourth quarter was the busiest, with 387 deals
worth roughly $3.2 billion, while the first quarter was the slowest, at 229
deals worth $659 million.

RELATED ARTICLES

New construction props up inventory in Brooklyn, pushing down prices
Brooklyn’s bankrupt All Year Management attracting bidders, lawyer says
The city’s top real estate investment sales to end 2021

The last quarter of 2021 is a good indicator of what this year should look like,
according to TerraCRG Chief Executive Ofer Cohen.





“The rest of 2022 is going to be very similar, in terms of velocity and volume,
to the last quarter of 2021,” Cohen said.

Several large institutional sales took place in Brooklyn last year, and the top
10 deals in the borough accounted for more than 25% of the total dollar volume.
There were seven deals for more than $100 million each.




The largest deal of the year was the sale of The Denizen in Bushwick for $506
million. Atlas Capital purchased it from Yoel Goldman during the fourth quarter.
The second largest deal was the $220 million sale of 85 Jay St. in Dumbo, and
the third was the $128 million sale of 12 Metrotech Center in Downtown Brooklyn.

The Downtown Brooklyn area, which includes Boerum Hill and Gowanus, experienced
the most dollar volume, $1.7 billion, while north-central Brooklyn, which
includes Bushwick and Crown Heights, had the most transactions: 220.

SIGN UP FOR THE REAL ESTATE DAILY, A ROUNDUP OF INDUSTRY NEWS AND DAILY DEALS.
DELIVERED TO YOUR INBOX EVERY AFTERNOON M-F.

Email Address



Mixed-use properties were the most popular by deal volume and dollar volume,
with 458 deals worth about $1.8 billion overall, according to the report.
Multifamily properties were second in both categories, with 287 deals worth
about $1.4 billion.

Part of the reason for 2021 activity surpassing 2019 levels was that 2019 was
not a particularly busy year for real estate. Activity in the Brooklyn market
peaked in the mid-2010s before tapering off between 2016 and 2019, and a strict
new rent law that the state Legislature passed in 2019 curtailed the amount of
interest in trading multifamily properties, Cohen said.

“It was an active year,” he said of 2019, “but I would call it kind of a
hangover year.”



RECOMMENDED FOR YOU

DEALS OF THE DAY: JAN. 27


Letter
to the
Editor

To send a letter to the editor, please email a message to
letters@crainsnewyork.com

RECOMMENDED FOR YOU
Deals of the Day: Jan. 27
SL Green beats leasing expectations, but occupancy slides
World’s tallest Holiday Inn is back on the market for $187M
Sponsored Content: Hotels


Get our newsletters

Staying current is easy with Crain's news delivered straight to your inbox, free
of charge. Click below to see everything we have to offer.

Email Address
Crain's Student Offer


We offer a discounted rate through Student Beans for students with a valid .edu
email address. For only $35, you can get the leading source of business news,
anytime & anywhere, for an entire year.

Subscribe today!
Connect with us
 * Facebook
 * Twitter
 * LinkedIn
 * Instagram
 * Pinterest

Our Mission

Crain’s New York Business is the trusted voice of the New York business
community—connecting businesses across the five boroughs by providing analysis
and opinion on how to navigate New York’s complex business and political
landscape.



Contact Us

685 Third Avenue
New York, NY 10017
(212) 210-0100

Contact us

FAQ

Report a problem

Staff directory

Crain jobs

Events
 * Submit Your Event
 * All Upcoming Events
 * Crain's Events
 * Livestreams
 * Webcast Archives
 * Past Crain's Events
 * Corporate Membership

Resources
 * Advertise with Us
 * Crain's New York Business app
 * Current Issue
 * Newsletters
 * Reprints
 * AdChoices
 * Sitemap
 * Corrections and Clarifications

Legal
 * Terms and Conditions
 * Privacy Policy
 * Privacy Request



Copyright © 1996-2022. Crain Communications, Inc. All Rights Reserved.





Close





We’d like to send you notifications for the latest news and updates.


SubscribeLater


Scroll to Continue