Brooklyn has become a bright spot for city <b>retail</b> | RetailTechPodcast

Brooklyn has become a bright spot for city retail

In a glass-half-full kind of way, Brooklyn has become a bright spot for city retail, with average asking rents on ground-floor spaces up in seven of the 16 shopping corridors. Along North Sixth Street, as highlighted by The Post in October, rents went up 8 percent, to $251 per square foot. Along Bedford Avenue from North Eighth Street to North 12th Street by McCarren Park, rents increased 3 percent, to $168 per square foot. Rents fell 11 percent, to $351 per square foot, on Bedford between Grand and North 8th streets. Rents on Court Street between Atlantic Avenue and Carroll Street dropped by 31 percent, to $103 per square foot. On Smith Street, also between Atlantic and Carroll, rents fell 32 percent, to $101 per foot. On Montague Street between Hicks Street and Cadman Plaza, the average asking rents fell 27 percent, to $110 per foot. Read more