BISNOW Event: Brooklyn State of the Market Is It Possible That Brooklyn Is Becoming… Overhyped?
Paul Travis, Jamie Schultz, Jay Norris
Panelists: Paul Travis – Washington Square Partners, Jay Norris – Guesst and Jaime Schultz – Lee & Associates
On October 19, 2017 Bisnow hosted their 6th Annual Brooklyn State of the Market event and was a moderator with panelists Paul Travis, Jaime Schultz and Jay Norris. The event brought together uniquely specialized leaders from the Real Estate Advisory and Brokerage arenas with a lively discussion regarding the current opportunities and potential within the marketplace for commercial retailers.
There was the acknowledgement of Brooklyn as an attractive retail footprint; offering more space and competitive pricing within a largely populated community. However, with the growth and desire to be a part of Brooklyn, preserving culture in the area is a big part of being brought in by the community of Brooklyn. For example, the idea that curated food markets will become a prevalent trend in Brooklyn is probable because it allows local artisans and entrepreneurs to exchange ideas, collaborate, and showcase their wares and complements the character of the community. Also, big brands want to make their mark in Brooklyn, yet these big brands need to be conscious of preserving the neighborhood and “bring their brand to the consumer,” and shape their products to the culture of the neighborhood.