121. Brooklyn CRE 2025: Sales Trends, Development Growth & Market Insights featuring Sean R. Kelly & Stephen Vorvolakos

Shimon Shkury, President and Founder of Ariel Property Advisors, Sean R. Kelly, Esq., Partner, and Stephen Vorvolakos, Director, discuss trends in Brooklyn’s commercial real estate market and the findings of Ariel Property Advisors’ Brooklyn 2025 Year-End Commercial Real Estate Trends report.

Highlights from the report include:

• Brooklyn closed 2025 with $6.66 billion in total commercial real estate sales across 951 transactions, reflecting an 8% decline in dollar volume and 2% increase in transactions compared to 2024.
• The development market rallied in 2025 with 172 transactions totaling $1.8 billion, an increase of 25% and 41%, respectively, compared to 2024.
• Multifamily dollar volume dipped 3% year over year to $3.47 billion while transactions rose 7% to 582.
• Brooklyn retail saw 76 transactions totaling $523 million, representing decreases of 10% and 17%, respectively, compared to 2024. Boroughwide, transaction activity was largely driven by smaller, mom-and-pop retail sales.