2024 | Industrial Market Report | Brooklyn, NY
2024 Brooklyn Industrial Market Report
Market Overview
Below is an overview of all industrial transactions in 2024 exceeding $1M in Brooklyn and some noteworthy insights.
- Total Dollar Volume: $927M—an 83% increase from 2023 and a 14% increase from 2022.
- Transactions: 102 deals over $1M, up from 61 in 2023 and 101 in 2022.
- Average Price per SF: Warehouses traded at $488 per SF, up from $445 in 2023.
- Average Deal Size: $9.5M
- Buyer Trends: 70% of transactions were user-buyers, with 58% of these being first-time buyers!
- Top Neighborhoods by Transaction Volume: Williamsburg (21), Sunset Park (10), Greenpoint (10)
- Q4 Strength: 54% of the total dollar volume was recorded in Q4 recording three deals above $100M.
Brooklyn’s industrial market continues to showcase its resilience, with user-buyers leading the way and institutional deals returning. With this momentum, 2025 is expected to be a banner year.
