It’s no secret that Brooklyn has become a hot commodity in recent years. The epicenter of New York City’s largest borough, Downtown Brooklyn, has undergone a dramatic transformation in recent years as waves of new construction have swept across its skyline. But is it the right place for your business?
Overview
Downtown Brooklyn first began to develop in the early 19th century and soon became Brooklyn’s hub of commerce and government. After Brooklyn, then a separate city, became part of New York City in 1898, the neighborhood remained a key center for business and underwent several urban revitalization programs in the latter half of the 20th century as well as a sweeping rezoning by the Bloomberg Administration in 2004. The neighborhood contains a robust mix of private sector and government office buildings as well as numerous subway and bus stops and Atlantic Terminal, a major Long Island Rail Road station. The community has undergone a residential and retail boom in recent years and has also established itself as a key entertainment destination thanks to the opening of Barclays Center in 2012.
Advantages
Downtown Brooklyn enjoys a very robust transportation infrastructure, punctuated by major subway hubs at Atlantic Avenue – Barclays Center, Jay Street – MetroTech, Court Street – Borough Hall and others. It also offers access to the Long Island Rail Road at Atlantic Terminal, making it easy to reach for suburban commuters. In addition to all of this, the neighborhood also boasts a diverse mix of office space that’s suitable for major companies, startups and government agencies alike and also offers easy access to nearby amenities like Barclays Center, the Brooklyn Academy of Music and Cadman Plaza Park. It’s central location and excellent subway access also makes it easy to reach from almost anywhere in the city. Finally, the neighborhood commands lower rents than the more prestigious business districts of Manhattan, making it ideal for companies looking to save money.
Disadvantages
Despite its flexible office space inventory and excellent transportation options, Downtown Brooklyn is still somewhat lacking for retail, making lunch options limited. It also largely lacks green spaces and is harder to reach via New Jersey Transit and Metro-North, making it a rather poor choice for companies with large numbers of commuters that use those transportation options. The neighborhood also lacks the prestige and cosmopolitan appeal of a Manhattan address, meaning that companies looking to brand themselves that way should probably look elsewhere.
Verdict
Despite its drawbacks, Downtown Brooklyn is still ideal for all sorts of businesses, from startups to major corporations looking to save money by relocating away from Manhattan but staying within city limits. The neighborhood’s convenient location, outstanding transportation options and affordable office space make it a great choice for a wide array of companies looking for commercial space in the New York City area.
