New building applications for single and multi-family residential developments in New York City saw a major slowdown in 2016, as the fading boom following the changes that occurred at the Department of Buildings in 2014 began to slack further. Numbers have plunged by over half since 2014, and by 38 percent since 2015. The full report with spreadsheets covering every new building application is available at the research store.
Back at the end of 2014, YIMBY reported on the first permits for Ceruzzi Properties’ new tower at 520 Fifth Avenue, on the corner of West 43rd Street. The building will rise 71 floors and 920 feet to its roof, with a design by Handel Architects that YIMBY can now reveal thanks to eagle-eyed Forum user YIM_Hudson.
Construction appears to be nearly complete now that façade installation has finished on the 53-story, 600-unit mixed-use building under development at 551 Tenth Avenue, located between West 40th and 41st streets in Midtown West. The latest photo was taken by NY Constuction Photography. The most recent building permits have the tower, dubbed 555TEN, measuring 712,416 square feet and standing 610 feet in height.
The landmarked, Neo-Renaissance office building at 140 West 57th Street is about to become condos, bringing even more pricey apartments to Billionaires’ Row.