July 23, 2024

Distressed deals spark big Q2 for Brooklyn

Major deals for some of Brooklyn’s most infamously troubled properties helped spark a busy second quarter for the borough.

Brooklyn saw about $2.2 billion worth of deals overall last quarter, up more than 100% from the roughly $973 million worth of deals during the first quarter of the year, according to data from the Brooklyn-focused brokerage TerraCRG. But the top two deals by sale price were both for buildings that have recently faced serious problems: the Brooklyn Tower and the William Vale Hotel.

Read more here.