Downtown Brooklyn is NYC’s third largest business district, and well known for its government and office buildings, such as the Williamsburg Savings Bank Tower and MetroTech Center. The neighborhood was rezoned in 2004, and since then, more than $9 billion in updates have been in progress. Downtown Brooklyn is part of the Brooklyn Tech Triangle that houses more than 520 tech and design firms.
Downtown Brooklyn Office Space | Lease and Data Trends
Downtown Brooklyn office space rents for an average of $51 per square foot, above the Brooklyn average of $41.53/sqft. It’s a popular area thanks to the significant commercial real estate inventory (more than 12 million square feet of office space); accessibility by car, bike or public transit; green space; and an abundance of restaurants and bars. The vacancy rate for Downtown Brooklyn office space is 5.6 percent, much lower than the average Brooklyn vacancy of 17 percent. The area continues to be a significant discount from many popular Manhattan submarkets such as Midtown, Chelsea, Plaza District, and Times Square.
What Our Brokers Say About Downtown Brooklyn Office Space for Rent
Downtown Brooklyn is in the northwestern area of the borough and covers about 277 acres. It is bordered by DUMBO, Brooklyn Heights, Boerum Hill, and Fort Greene.
The MTA has seven stations in the area: Jay Street—MetroTech (A, C, F, N, R, and W trains), Clark Street, Borough Hall (2, 3, 4, 5, N, R, and W trains), DeKalb Avenue (B, D, N, Q, R, and W trains), Hoyt—Schermerhorn Streets (A, C, and G trains), Nevins Street (2, 3, 4, and 5 trains), and Atlantic Avenue—Barclays Center (2, 3, 4, 5, B, Q, D, N, R, and W trains). Atlantic Avenue also offers access to the Long Island Rail Road.
Downtown Brooklyn office space is an excellent option for advocacy groups, nonprofits, and law firms that are regularly at court. U.S. Attorney’s Office, U.S. Bankruptcy Court, King’s County Supreme Court, King’s County Surrogate Court, King’s County Family Court, and King’s County District Attorney are all located near Cadman Plaza and Columbus Park.
Looking for an excuse to get out of the office? Try one of many local dining options such as Bijan’s, Bacchu Bistro & Wine Bar, Forno Rosso, or Black Walnut. Downtown Brooklyn also makes it easy to find interns or recent graduates to interview as potential new employees. Long Island University, NYU School of Engineering, NYC College of Technology and Brooklyn Law School are all nearby.
Get to Know Downtown Brooklyn
Until the 17th century, the Lenape Native Americans lived in the area that is now Downtown Brooklyn. Around 1814, Robert Fulton’s steam ferry began providing residents with quick access to Lower Manhattan, which began the neighborhood’s journey to becoming a commercial center. In 2004, the area was rezoned to make space for more residential areas and pave the way for a population increase.
Those interested in the history of Brooklyn might want to visit Downtown’s Brooklyn Historical Society, a museum and library dedicated to preserving the rich 400-year history of the borough. The society presents exhibits showcasing aspects of Brooklyn’s history, such as Waterfront, which, as the name suggests, details the history of the borough’s waterfront. The society also offers events, dinners, and classes.
The MetroTech Center, a center designated for business and education located between Flatbush Avenue and Jay Street, was established in 1992. MakerBot Industries, ImpreMedia, and TransCare Corporation, among others, rent portions of the pedestrian zone’s millions of square feet of office space. MetroTech Commons is a 3.5-acre area in the center of the MetroTech complex where residents and visitors gather to eat lunch, attend an outdoor fair, or admire temporary and permanent works of art. MetroTech Commons tends to host a variety of events—everything from chess tournaments to health fairs.