TerraCRG's Annual Brooklyn Commercial Property Sales Report compares four years of growth

Brooklyn NY TerraCRG, Brooklyn's leading commercial real estate brokerage and advisory firm, has released their Annual Commercial Sales in the Brooklyn Market 2013 Year-End Report. The report thoroughly analyzes all the commercial sales in the Brooklyn market throughout the last year, categorized by neighborhood and asset class. This is the fourth year of TerraCRG's market report and it shows that the Brooklyn commercial sales market has continued to grow rapidly, equating to a dollar volume growth of 393%. In 2013 alone, the TerraCRG team verified a total of $5B in commercial property sales in Brooklyn. Over the last year, the dollar volume of commercial property sales in Brooklyn has risen by 15%. 2013 Report Highlights: * 1,955 commercial sales with a total consideration of $5 billion, an approximate 15% increase in dollar volume from 2012. * Over the course of the last four years, the Brooklyn commercial sales market boomed with a dollar volume increase of 393%. * The largest year over year increase in dollar volume in Brooklyn was in the industrial/office asset class which more than doubled from $323.9 million in 2012 to $761.8 million in 2013. * The largest transaction in 2013 was the Watchtower Portfolio in DUMBO & Brooklyn Heights consisting of 5 buildings and 832,000 s/f combined. The portfolio sold for $240 million. * Sales of multifamily buildings represented the highest dollar volume category, totaling over $1.6B in trades with a total of 663 transactions. * The Downtown Brooklyn/Park Slope region had the highest dollar volume with sales totaling over $1.5B, up 67% from 2012. "The report is not only a comprehensive study of all the Brooklyn commercial property sales in 2013, but over the last four years. This analysis offers an unparalleled look at the growth of the commercial Brooklyn market," said Melissa DiBella, partner and senior vice president of TerraCRG. "One of the more significant shifts in this year's report is that level of activity in the office/industrial market," said Ofer Cohen, founder and president of TerraCRG. "The largest year over year increase in dollar volume in Brooklyn was in the industrial/office asset class more than doubled and the largest transaction in 2013 was the Watchtower Portfolio in DUMBO consisting of 5 buildings that was sold for $240 million." To download the complete report, which covers 2010 through 2013 and includes a detailed review of multifamily, mixed use, development, retail, and industrial properties in Brooklyn, please visit www.terracrg.com.