CPEX Asks: Why Brooklyn? Why Now?
Brooklyn is one of real estate’s worst-kept secrets. An Office of the New York State Comptroller report highlights why: Brooklyn businesses increased 21% over the past decade and available jobs grew at 20%. That’s almost twice the rest of NYC’s job growth. Brooklyn is preparing for new residents with almost 18,000 units newly constructed or in the pipeline. And according to the Brooklyn Chamber of Commerce, the borough welcomed 15 million visitors in 2013 and 2,215 hotel rooms were built, with 25% more expected by 2018. 26M SF of new development has gone up over the past few years, including 1M SF of retail and 2M SF of office. For more info on our sponsor, CPEX Real Estate Services, which is led by Tim King and Brian Leary (right), click here.