Is Brooklyn a good bet for office space investment?

Heritage Equity Partners, a Brooklyn-focused real estate investment and development firm headed by Toby Moskovits, has secured a $70 million loan for the construction of an eight-story boutique office property with floors ranging from 30,000 to 50,000 square feet each.

The general thinking behind this investment is, lets target a number of the creative outfits in media and technology that 'may' start flocking to Brooklyn rather than Manhattan.

The deal follows another loan that Heritage last week secured for the nearby Williamsburg Hotel, which it is building on Wythe Avenue. In that transaction, the firm received a $40 million construction loan from G4 Capital Partners to build the 150-room hostelry.

What do you think? Is Brooklyn worth the gamble? Is this a trend that is just that...a trend?
Time will tell.

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