I wanted to expand, but most of the buildings around here are all living space. And they don't want a woodshop here. Williamsburg's changes wouldn't be a problem if industrial companies could relocate elsewhere in the city. But business officials and real estate agents say that the market for industrial property is the tightest it's been in years. Between the third quarters of 1996 and 1998, the overall vacancy rate for industrial real estate in Brooklyn fell from 15.12 percent to 10.87 percent.
Brokers say the actual supply of usable space is much lower.
The shortage is even greater in Queens, which along with Brooklyn has long been home to some of the most desirable locations outside of Manhattan for manufacturers. Firms are even finding it difficult to find available industrial space in the Bronx and on Staten Island. As a result, companies like Inner Glaze Furniture are increasingly looking to move or expand outside the city. New York was recently ranked as having the widest gap between income ranges in the country, and the industrial sector provides blue collar jobs that can keep the city from becoming even more skewed. If you squeeze out enough of those industrial support activities, you wind up with a business environment that is less attractive.