The narrative surrounding Brooklyn’s office market has shifted dramatically over the past five years. What once was poised to become a creative industry powerhouse — with giants like Netflix, Kith, and Rent the Runway anchoring major leases in 2019 — has had to recalibrate in the wake of global shifts, economic headwinds, and post-pandemic workplace transformation.
Yet amid the noise, a quieter, steadier movement is underway. And it’s one I believe could play a pivotal role in Brooklyn’s office market revival: the rise of nonprofits and educational tenants as anchors of long-term, community-centered leasing.
From Media Hype to Meaningful Occupancy
Back in 2019, developers were racing to meet demand, adding over 6 million square feet of new office space to Brooklyn’s inventory. The borough seemed destined to be the next frontier for high-growth, trendsetting firms. Then the pandemic disrupted every assumption about how — and where — people work.
What we’re seeing in 2025 is not just a return to leasing. It’s a redefinition of tenant value, measured not only in rent per square foot but in mission, reliability, and local impact.
The HOPE Program: A Case Study in Sustainable Tenancy
Consider The HOPE Program, a Brooklyn-based nonprofit that’s been rooted at 1 Smith Street since 2001. This year, they renewed their lease for another 10 years, securing 7,500 square feet of space on the fourth floor — but with one major difference: thanks to thoughtful negotiation by the team at Cresa, their rent was reduced by 30%.
This is more than a favorable lease. It’s a signal that landlords, tenants, and brokers are working together to sustain organizations that matter to the community. HOPE’s work — helping underserved New Yorkers gain employment and life skills — strengthens the very fabric of Downtown Brooklyn. And now, with renewed space and reduced cost pressure, they can keep that mission going strong.
Brooklyn’s Office Market: Stability and Purpose Over High Turnover
The appeal of nonprofit and education-based tenants isn’t just about good optics. It’s smart real estate strategy.
Organizations like The HOPE Program bring long-term occupancy, community credibility, and predictable lease renewal behavior. They’re not subject to the same volatility as venture-backed startups or trend-driven retailers. When a nonprofit signs a 10-year lease, they’re not just betting on their mission — they’re betting on the neighborhood. And that’s the kind of tenant any landlord should welcome.
Other tenants in the building, like Heart to Heart and Duane Reade, point to a broader tenant mix that balances retail, service, and mission-based operations — the kind of mix that keeps buildings resilient even when sectors shift.
The Role of Landlords: Partners in Purpose
Sutton Management, the landlord at 1 Smith Street, deserves recognition for their approach. They didn’t just lease space — they supported a mission. According to Elie Sutton, the company was guided by a shared commitment to community value. This kind of landlord-tenant collaboration is exactly what Brooklyn — and office markets everywhere — need more of.
When owners act as partners, not just rent collectors, the results are win-win. HOPE retains a physical home. The building retains a dependable, community-rooted tenant. And the neighborhood retains a resource that uplifts real people every day.
What This Means for the Future of Brooklyn Office
At Duke Properties, we’ve long believed in mixed-use, purpose-driven property models. The revival of Brooklyn’s office sector won’t be led by tech alone — it will come from a diverse ecosystem of tenants who believe in the places they occupy and the people they serve.
Brooklyn doesn’t just need big names to succeed. It needs durability. It needs tenants like HOPE — and landlords who recognize the long game. As we continue to rethink office leasing across the city, the value of impact-focused tenants should not be underestimated.
Final Thoughts: Rethinking What Success Looks Like
The days of trophy leases and celebrity square footage are giving way to something quieter, but potentially far more meaningful. In Brooklyn, it’s nonprofits, schools, and workforce organizations that are keeping the lights on — and strengthening the office market one mission at a time.
As a property owner, I’m encouraged by these shifts. They remind us that real estate is more than numbers. It’s about people, purpose, and place.
— Albert Dweck
Founder & CEO, Duke Properties