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Commercial real estate investment sales in Brooklyn crossed the $10-billion threshold for the first time in 2022, according to Ariel Property Advisors

Brooklyn Investment Sales Top $10 Billion for the First Time

Brooklyn saw a 28% year-over-year increase investment sales to just over $10 billion in 2022, representing the first time ever the borough has surpassed the $10-billion mark in dollar volume and surpassing the previous record of $9.19 billion from 2015, according to Ariel Property Advisors’ 2022 Brooklyn Year-End Commercial Real Estate Trends report.  

Transactions in the borough also increased 20% from the previous year to 1,226, including 807 multifamily sales, the largest number ever recorded in the borough. 

“Institutional money helped play a major role in the Brooklyn market, as 2022 finished the year with 16 transactions of $100-plus million, nearly doubling the nine from 2021,” said Ariel partner Sean R. Kelly. “Additionally, several asset classes saw record highs in pricing, and the multifamily & industrial/warehouse classes specifically had their best year ever in terms of dollar volume.” 


Inside The Story

Ariel Property Advisors' Kelly

About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-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 15-20 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 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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