Brooklyn's hip, its office supply is rising, but big Manhattan tenants still not biting
Not one non-government employer has signed a lease for more than 100,000 sq ft
New York
BROOKLYN'S image as New York's hub of hipness attracts residents from artists to bankers. Yet in at least one respect, the city's most populous borough is struggling to live up to its hype.
A push to attract big-name companies for large offices in Brooklyn has so far come up short. Not one non-government employer has signed a lease for more than 100,000 sq ft, a typical minimum size for a building's anchor tenant, since mid-2015. Last year, the only deal that large was a renewal by the New York City Fire Department.
With about seven million sq ft of offices planned - more than twice the space at the Empire State Building - luring major tenants is critical to developers who see the borough as the next frontier for companies seeking state-of-the-art spaces and a more affordable alternative to Manhattan. Projects in the works include a waterfront complex at the Brooklyn Navy Yard and a conversion of former Jeh…
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