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Demand is cooling as development across the East River  to Brooklyn New York surges, with 9.6 million square feet of offices slated for completion by the end of 2020. Developers and investors behind projects including the former Domino Sugar plant, the Watchtower Building and the retired Schlitz Brewery are aiming to draw TAMI ((technology, advertising, media, and information) tenants, and Brooklyn’s emergence as one of the U.S.’s top tech centers is threatened unless there’s a reversal of the slowdown. Venture-capital investment in New York firms, including technology companies, fell to $1.4 billion in the second quarter. San Francisco, the epicenter of the U.S. tech industry, the office-vacancy .rate rose to 7.3% in the second quarter, the first increase since 2013.

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