Bullish on Brooklyn: Real Estate Executives Expect Technology to Boom in the BoroughFebruary 23, 2015
BULLISH ON BROOKLYN: REAL ESTATE EXECUTIVES EXPECT TECHNOLOGY TO BOOM IN THE BOROUGH, THINK ITS OFFICE SPACE MARKET WILL GROW
Commercial real estate executives are increasingly bullish on Brooklyn: Three-quarters (74 percent) expect continued office space growth. Looking at a corporate upsurge including JP Morgan's planned move of 2000 employees to Brooklyn, they agreed that "Brooklyn will be a serious contender for New York City office space in the coming years." But a sizable number (16 percent) think growth will soon stagnate, agreeing that "Brooklyn won't be able to expand its market for Class A office space." These are among the results of the Fall 2014 Gotham Commercial Real Estate Monitor survey from Marks Paneth. Respondents included top-level real estate executives, including owners, brokers, agents, engineers, accountants and lawyers specializing in the commercial space.
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