More money changed hands in commercial real estate deals in Brooklyn in the first half of the year than in the last two, slower years, with a total of $4B worth of trades. That total figure represents a 44% increase over the same time last year, according to TerraCRG’s half yearly report, and follows two years of declines. However, much of that increase was driven by the $805M sale of Starrett City and without that outlier deal, the increase was a more muted 12%. Overall, there were 597 trades in the first six months of the year, a 14% decrease on last year. That dip is because of a shortage of inventory, according to the report.
Read more here.