New York Market Overview

Dollar volume of Brooklyn investment sales increased by 106 percent in 2012 compared to the previous year, to a total of $4 billion. There were a total 586 Brooklyn investment sales transactions in 2012, a 51 percent increase year-over year. There were 388 total deals in 2011.Four months after Hurricane Sandy devastated areas of Lower Manhattan, the vast majority of the area below Chambers street is back in business. Nearly 99 percent of Lower Manhattan's commercial office space and residential inventory is now open. Nearly 96 percent of hotel inventory and 90 percent of retailers have reopened.

Twenty firms, mostly in the technology field, have submitted proposals to open offices in Lower Manhattan, in a move that could transform the cultural makeup of the neighborhood. The city, in an attempt to encourage tech migration to the Sandy-ravaged neighborhood, will announce the 20 finalists who will receive grants from $10,000 to $250,000 to establish a presence there.