Brooklyn and Queens are often the forgotten office markets in New York City.
The attention is always on Midtown, Financial District or even Hudson Yards. The boroughs attract a less glamorous clientele. It’s not Meta or Google, but government agencies or a moving company — and the appeal of cheaper rent has not led to a wave of interest from tenants.
The recent uptick in Midtown office leasing has yet to trickle down to the outerboroughs. Office leasing in Brooklyn was 29 percent below the five-year average. This marked the seventh quarter that leasing fell below the five year average, according to the brokerage CBRE.
Here are the largest office leases in Queens and Brooklyn, according to data compiled by TRD, CBRE and Cushman & Wakefield.
LaGuardia College | 30-20 Thomson Avenue | 210,334 square feet
The City University of New York’s LaGuardia Community College inked a ten year lease extension at the Queens Atrium. The community college has resided in the building for the past 15 years, according to YIMBY.
Jomashop | 140 58th Street | 79,340 square feet
Jomashop expanded its lease in the Brooklyn Army Terminal in Sunset Park by 79,340 square feet. The watch retailer previously expanded its lease to 107,000 square feet in 2018 in the terminal.
Piece of Cake Moving & Storage | 33-02 Skillman Avenue | 77,086 square feet
Piece of Cake Moving and Storage scored the third largest lease in Queens or Brooklyn. It inked a lease at 33-02 Skillman Avenue. Asking rent was only $24 per square foot, according to Knickerbocker Realty Group’s Vincent Lopez, who brokered the deal for Piece of Cake, the Commercial Observer reported.
Lafayette 148 | 141 Flushing Avenue | 67,552 square feet
Fashion brand Lafayette 148 expanded its lease by 67,552 square feet in the Brooklyn Navy Yard. The company was originally based in Soho but signed a lease in the Navy Yard in 2017 to build out its headquarters. That same year, Lafayette 148 secured an extra 28,000 square feet for its headquarters, according to Commercial Observer.
Pratt Institute (Pratt Manhattan)| 63 Flushing Avenue | 62,570 square feet
The Pratt Institute relocated its graduate fine arts and photography facilities to the Brooklyn Navy Yard. The school signed a 63,000 square-foot lease to occupy the full third floor of the 16-story building, according to Bisnow. The building, owned by Boston Properties and Rudin, added 100 art studios and gallery spaces along with a place for performances for Pratt.