Terra CRG Releases Market Report for 2018, Finds Brooklyn Office Sector Beating the Odds, Average Price per SF Strengthening Across Sectors Due to Lack of Inventory

BROOKLYN, NY -- Terra Commercial Realty Group (Terra CRG), the only real estate brokerage and advisory firm focused solely on Brooklyn commercial transactions, has released its annual Brooklyn Market Report for 2018, examining emerging trends across all commercial sales in the Brooklyn market. “The Brooklyn market is continuing to show strength, even as we end a two-year dollar volume decline,” writes Ofer Cohen, Founder & Chief Executive Officer for Terra CRG in the Report’s executive summary. “While total dollar volume showed a 40% decrease from the 2015 peak, the Brooklyn investment sales transactional market is showing resiliency. 2017 was truly a strong year where many asset classes saw price increases, and total transactional volume remained steady.” Key findings include the following: 2017 saw an 18% decrease in dollar volume from the previous year. There was a total of 1,359 verified commercial transactions in Brooklyn in 2017, totaling approximately $6.4 Billion. Average price per square foot in Brooklyn increased in four of five asset categories, primarily due to the lack of available inventory and continued investment in the Brooklyn market. Brooklyn’s total number of transactions experienced a 10% decrease since 2016, and a 33% decrease since 2015. Brooklyn’s retail market demonstrated exceptional strength during a time of national upheaval in the sector, experiencing a 23% increase in dollar volume as well as an almost 50% increase in total number of transactions last year. Industrial/Office dollar volume increased by 63% from $787.5…