From the 2013 Data Book: After a number of years in which the pipeline of new residential development projects thinned dramatically, 2012 saw an emphatic return of approved projects that are getting on Manhattan’s drawing board. And while it’s welcome to see evidence of stronger activity, given the current levels of demand and reduced inventory, it seems likely that many more new buildings will have to break ground to meet the needs of buyers and renters. Manhattan’s upswing in permitted units last year — through October, New York City had approved 2,287 condo units, according to the Department of Buildings — followed a year in which just 1,711 new units were approved. (Click here for more.)
From the 2013 Data Book: After a number of years in which the pipeline of new residential development projects thinned dramatically, 2012 saw an emphatic return of approved projects that are getting on Manhattan’s drawing board. And while it’s welcome to see evidence of stronger activity, given the current levels of demand and reduced inventory, it seems likely that many more new buildings will have to break ground to meet the needs of buyers and renters. Manhattan’s upswing in permitted units last year — through October, New York City had approved 2,287 condo units, according to the Department of Buildings — followed a year in which just 1,711 new units were approved. (Click here for more.)