Brooklyn is the epicenter of New York’s commercial and residential development. In just the first quarter of 2011, Brooklyn booked over $324 million in residential home sales, over twice the amount of 2010. There are currently over 39,000 businesses in Brooklyn, and over 10,000 apartment buildings. Despite its strong demographics, Brooklyn is significantly under-retailed and offers an unparalleled opportunity for retailers. Currently, Brooklyn has roughly half the retail space per capita of the top 50 US markets.
Source: Real Estate Weekly April 2011, All Property Management 2010
Brooklyn is America’s Fourth Largest City
Brooklyn is a City In Need of Retail