And now it's time for another monthly installment from our masked commercial correspondent...Office market sucks. Still, deals are being done where they can be done - low. High-profile, 12-year 35,000 rsf WEIL GOTSHAL...Deal starts at $28 for Class A sublet space in MetroTech...186 Joralemon, a 12-story expensive gut reno, for some reason still asking $40 per foot, taking low thirties, we are told. Court/Montague area high twenties deals are back...DUMBO, reliably the most active market, shows increasing availability this month due, it appears, to tenants going out of business or relocating to ‘warmer’ climes. Not the best sign.
Personal Opinion here- when we get inquiries for space we don’t have, we always send the tenant or broker off with at least one lead. We want to help. However, when we get calls and emails looking for live/work space, of which we disapprove, we don’t have anywhere to send and don’t want to. Why? 475 Kent matzoh, for example. Freezing loft tenants this time of year. Woodshops next to lofts with children. Not sure there is decent, stable live/work anywhere in Brooklyn, but would like to know where to send callers if there is some...MORTON’S running a bit slow, is inviting in selected folks in for free drinks during January. Tough time of year in toughest year...FIVE GUYS BURGERS taking former Busy CHEF space on Court Street. Cheeseburgers, great fries next to yogurt. Sweet.
Commercial Klutch: December Edition [Brownstoner]
Commercial Klutch: November Edition [Brownstoner]
Commercial Klutch: October Edition [Brownstoner]
Commercial Klutch: September Edition [Brownstoner]
Commercial Klutch: August Edition [Brownstoner]
Commercial Klutch: July Edition [Brownstoner]