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Warehouse and industrial space in Sunset Park, Brooklyn, NYC

Red Hook, Brooklyn, NY Industrial-Garage-Warehouse Building, space for lease

  • $15
Red Hook, Brooklyn, NY, USA

5,000 sf – 20,000 sf, – 120,000 sf, will divide, $15-18 psf, Ground Floor and upstairs, Vacant, for lease or […]

  • 5000 - 20,000 Sq Ft
  • $15
  • Warehouse and industrial
Details

Brooklyn

4 months ago
  • Upon request
Eleventh Ave, Manhattan, NY, Garage-Warehouse Building, space for lease

Eleventh Ave, Manhattan, NY, Garage-Warehouse Building, space for lease

  • Upon request
11th Ave, New York, NY 10011, USA

3,000 sf, – 6,000 sf, 10,000 sf -15,000 sf, Ground floor, Plus basement, Possession arrange, Gallery – showroom – warehouse […]

  • 3000 sf
  • Upon request
  • Warehouse and industrial
Details

Chelsea

4 months ago

Sunset Park, Brooklyn, NY Industrial-Garage-Warehouse Building for lease or sale

  • $15/psf
Sunset Park, Brooklyn, NY, USA

Sunset Park, Brooklyn, NY Industrial-Garage-Warehouse Building for lease or sale 5,000 sf – 10,000 sf – 100,000 sf, $15 – […]

  • 5000 - 10,000 Sq Ft
  • $15/psf
  • Warehouse and industrial
Details

Brooklyn

5 months ago

Sunset Park Brooklyn NY, Manufacturing – Warehouse Building for lease, rent

  • $16/psf
Sunset Park, Brooklyn, NY, USA

Sunset Park Brooklyn NY, Manufacturing – Warehouse Building for lease, rent 10,000 sf – 60,000 sf, $16 – 20  psf […]

  • 10000 - 60000 Sq Ft
  • $16/psf
  • Warehouse and industrial
Details

Brooklyn

5 months ago

South Bronx Industrial warehouse building, space for lease

  • $12
The Bronx, NY, USA

10,000 sf – 20,000 sf – 100,000 sf will divide, $9 – 16 per sf, Ground Floor and upstairs, warehouse […]

  • 10000 sf
  • $12
  • Warehouse and industrial
Details

Bronx

5 months ago

Long Island City, Industrial, Warehouse space for lease

  • $16/psf
Long Island City, Queens, NY, USA

Long Island City, Industrial , Warehouse space for lease 6,000 sf – 12,000 sf – 60,000 sf,     $ 16- […]

  • 6000 - 22,000 Sq Ft
  • $16/psf
  • Warehouse and industrial
Details

Long Island City

5 months ago

Warehouse and industrial space in Sunset Park, Brooklyn, NYC

Warehouse and industrial space – Sunset Park is nested between 15th Street and 65th Street, from 9th Ave to New York Harbor. This famous industrial neighborhood is known for its ethnically diverse population of over 100,000 residents, with an industrial area of warehouse space for rent, sale, or lease. Sunset Park became a destination for maritime distribution, a result of the unobstructed stretch of water-frontage over the past century. Historically, the backbone of Sunset Park has been its industrial sector, anchored by three main habitats:

The Brooklyn Army Terminal, Bush Terminal, and Industry City. Altogether these form a majority of the warehouses and industrial space of Sunset Park, with a wide range of local businesses. Owners invest heavily in the local infrastructure, including railways and roads, to become a new area and provide greater functionality. With its ideal location on Upper New York Bay, a growing residential population, and access to the public transportation networks, Sunset Park will continue to be a waterfront destination. In modern times, lifting rents and purchase prices for industrial space have been threatening Sunset Park’s affordability for businesses.

Warehouse and industrial space for rent in Sunset Park, Brooklyn, NYC

The new rent regulation laws enacted in the past removed several essential benefits to rental property owners, such as the ability to push rents high after making some unwanted renovations or the right to remove an industrial space from rent-regulated status when the monthly rent surpassed a predetermined threshold. Investors are pushed to consider buying other asset types, namely warehouses and industrial sites. Industrial lease rates are near its highest levels, while there is a dragon competition of international buyers spending  billions in the last decade.

Brooklyn and queens warehouses are in the $15- to $28 per foot price range. This type of building has very low inventory for sale, and they now go for $250 – $350 per foot or even more. In the past, Brooklyn has lost millions of square feet of industrial space. In 2019 average price per square foot for an industrial building in Sunset Park was $350 per square foot, a notable step-up of 25%, while leasing million-square-foot trucking packages into Sunset Park, NYC is both time-consuming and pricey.

Warehouse and industrial space for sale in Sunset Park, Brooklyn, NYC

Each year and specifically between 2011 and 2019, Sunset Park warehouse & industrial space had the highest property sales in all Brooklyn. The highest number of transactions occurred in the yearly 2014, the year that the great Jamestown Properties acquired Sunset Park Industry City. Sadly New York’s rent regulation laws made a significant impact on the investment sales market in the first quarter of 2019, with sales around 30% to close to 400 transactions.

Some Real estate companies are marketing a warehouse space for over $200 million, with prices over $300 per foot. Some big sale gos over $300 million and price per foot as high as $600.  The average price per foot in 2019 was close  to  $500, which is much higher per foot than what they sell for in Sunset Park, and this is a good example.

 

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MANHATTAN OFFICE SPACE MARKET INFORMATION

INVENTORY SF 376 M +1.0% Prior Period 373 M
UNDER CONSTRUCTION SF10.2 M -10.3%Prior Period 11.4 M
VACANCY RATE11.7% +1.0%Prior Period 10.7%
AVERAGE MARKET RENT/SF$76.15 +1.2%Prior Period $75.25
MARKET SALE PRICE/SF$904 +2.9%Prior Period $878
MARKET CAP RATE4.3% Prior Period 4.3%

Availability
Vacant SF 40.7 M Sublet SF 11.8 M
Availability Rate 18.3% Available SF 65.8 M
Available average Asking Rent/SF $60.04
Occupancy Rate 88.3% Percent Leased Rate 91.5%
Office Sales Past Year
Asking Price Per SF $701
Sale to Asking Price Differential -1.4%
Sales Volume $7.5 B
Properties Sold 104
Months to Sale 11.0
For Sale Listings 142
Total For Sale SF 1.3 M

Demand
12 Months Net Absorp % of Inventory -0.1%
12 Months Leased SF 32 M
Months on Market 8.2
Months to Lease 12.1
Months Vacant 11.0
24 Months Lease Renewal Rate 35.1%
Population Growth 5 Years 3.0%

30 E 60th Street, NY, NY Office Medical space for lease 500-25000 sq ft

  • 300 - 20,000 Sq Ft
  • $70/per SF
  • Medical Office Space, Office Space
Featured

30 E 60th Street, NY, NY, Retail, Art Gallery space for lease, UES

  • 1700 - 3500 Sq Ft
  • Upon request
  • Gallery Space, Retail Space

18 W 33rd St, Herald Square, NY Office Medical space for lease 1400-2800 square feet

  • 2800 Sq Ft
  • Upon request
  • Medical Office Space, Office Space

14 E 55th Street, Plaza District, NY, Medical office space for lease 2,000 + 2,000 sf

  • 2000 Sq Ft
  • Negotiable
  • Office Space, Showroom Space

11th Ave The Chelsea Piers Sports & Entertainment Complex, Loft space for rent

  • 3000 - 10,000 Sq Ft
  • Upon request
  • Commercial Loft Space

Chelsea West 25th Street NY NY Class A Office space for lease

  • 4000 Sq Ft
  • Upon request
  • Gallery Space, Office Space
Featured

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