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The Denizen was one of seven 4100-million-plus Brooklyn sales in 2021

Brooklyn Investment Sales Rebound in 2021

Brooklyn’s total investment sales transactions and dollar volume in 2021 increased over 2020 and pre-pandemic levels, recording $6.1 billion in sales over 1,198 transactions, TerraCRG reported. That’s compared to $4.5 billion in sales and 813 transactions in 2020 and $5.2 billion in sales and 956 transactions in 2019. 

“Brooklyn’s investment sales market showed its resilience in 2021, with total transactions reaching pre-pandemic levels,” said Ofer Cohen, founder and CEO of TerraCRG. “After a slow start for the year, 70% of the total dollar volume in 2021 occurred in the latter half of the year parallel to the vaccine rollout and the re-opening of businesses and schools. The fourth quarter saw the most deals – a good indicator of what 2022 should bring.” 

Large institutional sales dominated the landscape, with the top 10 deals accounting for more than 25% of the total dollar volume. Seven 2021 transactions exceeded $100 million. 

Pictured: The Denizen in Bushwick, which traded for $506 million.

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

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