Office Leasing Market Report for Brooklyn & Manhattan: Q2 2024

Executive Summary
Q2 2024 has seen significant activity in Brooklyn and Manhattan's office leasing markets, driven by a rise in demand for flexible and creative office spaces.

Key Highlights
- **Brooklyn**:
- **Leasing Activity**: 1.2 million SF
- **Average Rent**: $55/SF
- **Vacancy Rate**: 12.3%
- **Top Areas**: DUMBO, Downtown, Williamsburg

- **Manhattan**:
- **Leasing Activity**: 5.8 million SF
- **Average Rent**: $72/SF
- **Vacancy Rate**: 11.5%
- **Top Areas**: Midtown, Financial District, Chelsea

Market Trends
- **Hybrid Work Models**: Growing demand for flexible spaces.
- **Creative Spaces**: Preference among tech startups and creative firms.
- **Green Buildings**: Increasing attractiveness due to sustainability goals.

Conclusion
Brooklyn and Manhattan's office leasing markets have shown resilience and growth, reflecting changes in work habits and corporate real estate strategies.
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