Matrix Multifamily Brooklyn Report-January 2024 January 29, 2024

Brooklyn Outperforms

While slower than the first half of 2023, Brooklyn rents were up 4.9 percent on a year-over-year basis in November, well above the nation’s average. Average occupancy in stabilized assets was a tight 99.0 percent, and though deliveries dropped 43.3% year-over-year, 19,419 units were under construction in November.