Remy Raisner, CEO of The Raisner Group, highlights Brooklyn's real estate market as emerging post-Covid and hints at a coming supercycle. Characteristics of a supercycle include rising prices, consistent demand, and robust economic growth. Key factors supporting this trend are declining interest rates and improved banking conditions. The New York office market has shown strong recovery, especially for prime spaces. With a revitalized economy and political climate, particularly with changes in landlord regulations, Brooklyn is poised to become a focal point in the upcoming real estate boom.
The overall real estate picture is improving as well. In New York, the left-for-dead office market bottomed out in 2023, and office leasing activity was quite strong in 2024 (at least for top-of-the-line space).
Several factors hint at this. First, interest rates have started to drop since last year. They are decreasing less rapidly than anticipated, and remain at a high level, but nevertheless, are on a downward trajectory.
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