114. Brooklyn CRE 2025: Small Buildings, Big Deals featuring Sean R. Kelly, Esq. & Stephen Vorvolakos
Update: 2025-09-15
Description
Join Shimon Shkury, President and Founder of Ariel Property Advisors, Partner Sean R. Kelly, Esq., and Director Stephen Vorvolakos, for an in-depth discussion of the state of Brooklyn's commercial real estate market. They analyze the market's robust performance, including $3.25 billion in total investment sales in 1H 2025, trends shaping investment strategies across the borough and other key findings from Ariel’s Brooklyn 2025 Mid-Year Commercial Real Estate Trends report.
Highlights include:
- In the first half of 2025, Brooklyn saw 282 multifamily transactions, totaling over $2 billion, representing a 10% and 14% increase respectively over the first half of 2024.
- Of the multifamily transactions, 51.45% were for buildings with fewer than six units, underscoring a consistent post-HSTPA (Housing Stability and Tenant Protection Act of 2019) investment strategy of prioritizing smaller, tax class protected assets that primarily offer free-market, value-add opportunities, largely unburdened by rent stabilization regulations.
- Brooklyn’s development market was strong in the first half of 2025, with 68 transactions totaling $610 million and pricing that exceeded $300/BSF for the first time.
- City and state housing policies and rezonings, like in Gowanus and Atlantic Avenue, have created incentives for developers.
- Brooklyn saw a resurgence in the retail market, particularly in Williamsburg. Investments from entities like Acadia Realty and Empire State Realty Trust represent the most significant institutional investments in the Brooklyn retail market since before COVID.
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