Prospect Heights, NY Office Space for Rent
Prospect Heights, a relatively small neighborhood in Northwest Brooklyn, is home to almost 20,000 people. The community boasts many advantages, including proximity to the magnificent Prospect Park and convenient access to Manhattan by train. A place of vibrant cultural diversity, Prospect Heights presents an exciting mix of classic 19th-century brownstones and modern luxury condos.
With the neighborhood’s high accessibility, central location, and many new developments, it is easy to understand why many businesses are looking into office space for rent in Prospect Heights, Brooklyn.
Prospect Heights Office Space – Lease Data & Trends
Although leasing activity has predictably slowed down in Brooklyn due to the coronavirus pandemic, the entire borough, including the area of Prospect Heights, is bouncing back quickly with the easing of restrictions and more positive economic trends.
In the first quarter of 2021, the leasing activity in Brooklyn (about 230,000 square feet) was nearly two times lower than the fourth quarter of 2020 (460,000 square feet). However, by the second quarter of 2021, business tenants have leased over 400,000 square feet of office space in Brooklyn.
The average asking prices for rental office space in Prospect Heights have not shown any significant fluctuations in the last year and a half and remain at an average of $46 per square foot (about $59 for Class A, $35 for Class B, and $33 for Class C).
Overall, the Brooklyn area is experiencing an upswing in construction and development. One notable new development project on Columbia Street (by DH Property Holdings) promises to deliver about 370,000 square feet of commercial and industrial space, most of which Amazon will occupy as the primary tenant.
What Our Brokers Say About Prospect Heights Office Space
Prospect Heights is a neighborhood with an old-town feel and a deep sense of community. At the same time, it offers an excellent location and convenient commuter routes to Manhattan.
The Atlantic Terminal is reachable within five minutes by car or under 20 minutes by train, and Union Square is only 20 minutes away by car. This accessibility makes Prospect Heights a highly desirable location for both residential and commercial real estate leases.
This comparatively quiet, down-to-earth neighborhood is just a hop, skip and jump away from Brooklyn’s hottest commercial hubs, with the headquarters of industry giants such as Google, Apple, and Johnson & Johnson.
Top Commercial Buildings in Prospect Heights, Brooklyn
Here are some of our top suggestions for office lease options in the area of Prospect Heights, Brooklyn.
922 Atlantic Avenue: Located on Atlantic Avenue, at the junction of Prospect Heights and Clinton Hill, this elegant and airy building would be the perfect choice for any business. An older structure with a modern revamp, it features spacious suites, high ceilings, and a sunny rear balcony.
646 Dean St: This building boasts of a prime location only two blocks from Barclays and a stone’s throw away from the popular shopping and dining spots of Vanderbilt Avenue. A spacious parking lot is also available for rent.
10 Plaza St E: Located in a quiet, verdant block near Prospect Park, this building would be an excellent choice for offices and medical establishments. The spot features convenient access for walkers, bikers, and public transportation users.
Get To Know Prospect Heights
If you’re looking for a people-friendly, unpretentious neighborhood that provides a refuge from the urban jungle without sacrificing convenient transit, Prospect Heights might be the ideal answer. The area offers a rich, diverse cultural scene with plenty of dining, shopping, and recreational options.
Established close to the end of the 19th century, Prospect Heights of today is home to ethnically diverse populations who all enjoy the local refreshing, soothing green areas, well-developed amenities, and cultural hubs like museums and libraries.
Noteworthy local attractions include the Brooklyn Library, the Brooklyn Museum, and the Botanical Gardens. Barclays Center, with its crowded sporting and music events, regularly draws visitors from near and far.
Foodies will appreciate the multitude of dining and drinking options along Vanderbilt Avenue, while walkers can take advantage of the many green spaces and open areas in the neighborhood.
Why Rent Office Space in Prospect Heights?
Many businesses are looking to set up an office in a quiet, family-friendly area that combines the advantages of a cozy neighborhood with a quick commute option to nearby central locations. Prospect Heights offers a small-town vibe in the middle of Brooklyn. Most areas of the community are highly safe, with crime rates well below average.
Rental office space in Prospect Heights can be an excellent choice for small to mid-sized companies that want to appeal to a steady local clientele while maintaining convenient access to the bustling commerce centers of NYC.
As Brooklyn’s commercial real estate market continues to stabilize and expand, one may predict that office space in Prospect Heights and the surrounding area will increase in appeal for local businesses.
Nearby Neighborhoods To Set Up Office Space
Not sure that Prospect Heights is the ideal spot for your business? You might want to explore options in these nearby locations instead.
Park Slope: A quaint and picturesque neighborhood right on the edge of Prospect Park, Park Slope offers convenient transit, high-rated shopping and entertainment locations, and a safe, intimate feel that may appeal to many businesses wishing to set up shop in a reputable area of Brooklyn.
Crown Heights: Located in the center of Brooklyn, the culturally diverse neighborhood of Crown Heights is home to over 140,000 people. Crown Heights has a dense, energetic urban feel and is conveniently accessible by bus or train.
Fort Greene: Aesthetically pleasing, diverse, and lively, Fort Greene offers its residents and visitors many attractions, including the Brooklyn Academy of Music, the stunning Fort Greene Park, and a variety of dining and entertainment spots.
Interested in office space for rent in Prospect Heights, Brooklyn? Contact us today. We can help you research local office listings and find the perfect office space in Prospect Heights.