"Brooklyn's office scene is nursing a hangover, with more space hitting the market while leasing chugs along in fits and starts, leaving the biggest floor plates under real pressure."
"According to CBRE, Q4 2025 figures put Brooklyn's availability rate at about 20.1 percent, with average asking rent around $51.66 per square foot, highlighting the gap between leases getting signed and space actually being occupied."
"The ULI/PwC Emerging Trends report shows DUMBO with vacancy near 29.3 percent, while Downtown Brooklyn's vacancy has climbed into the mid teens, reflecting a mix of massive new floor plates and converted warehouse space."
Brooklyn's office market is experiencing significant challenges, with a 20.1 percent availability rate and average asking rents around $51.66 per square foot. Annual leasing reached approximately 1.37 million square feet, but full-year absorption was slightly negative, indicating a disconnect between signed leases and occupied space. Landlords are responding with spec suites, concessions, and refinancing to maintain occupancy. Demand is uneven, with some properties performing better than others, while vacancies are notably high in areas like DUMBO and Downtown Brooklyn, reflecting tenant preferences for smaller, character-rich spaces.
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