New York YIMBY’s Q3 2024 Construction Report Shows Nearly 19,000 Filed Residential and Hotel Units

As temperatures begin to drop, New York City’s construction market shows no signs of cooling down. New York YIMBY’s construction report for the third quarter of 2024, based on permit filings submitted to the Department of Buildings during the three-month period from July through September, shows strong filing activity that indicates momentum is continuing from the preceding quarterly tallies. In the third quarter, New York’s developers filed permits for a total of 1,071 new buildings, measuring a combined 26.8 million square feet with 18,935 residential and hotel units. Below, we break the data down in a series of detailed analyses. A complete data sheet, with detailed information on each proposed development, is available with a subscription to YIMBY’s Building Wire.

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Rendering Revealed for 245 West 55th Street’s Expansion in Midtown, Manhattan

A new rendering has been revealed for 245 West 55th Street, an 18-story renovation and expansion in Midtown, Manhattan. Developed by New Jersey-based Mandelbaum & Mandelbaum under the 245 West 55th St LLC, the project involves the construction of six new stories above the roof parapet of the current 135-foot-tall mixed-use building, as well as the gut renovation of its 70,000 square feet of interiors and possible residential conversion of its commercial space. The site’s zoning also permits the structure’s renovation for boutique office use, though it is currently unclear which option the developer is pursuing. The property is located on an interior lot between Eighth Avenue and Broadway.

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Housing Lottery Launches for 1889 Atlantic Avenue in Bed-Stuy, Brooklyn

The affordable housing lottery has launched for 1889 Atlantic Avenue, a nine-story mixed-use building in Bedford-Stuyvesant, Brooklyn. Designed by JFA Architects & Engineers and developed by The Jay Group, the structure yields 80 residences. Available on NYC Housing Connect are 27 units for residents at 80 to 130 percent of the area median income (AMI), ranging in eligible income from $68,435 to $218,010.

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540 Atlantic Avenue Rises in Boerum Hill, Brooklyn

Construction is rising on 540 Atlantic Avenue, a two-tower residential development in Boerum Hill, Brooklyn. Designed by NA Design Studio and developed by JCS Realty under the 540 Atlantic Realty LLC, the project consists of two eight-story, 84-foot-tall wings and will yield 159 units with an average scope of 682 square feet, as well as 4,843 square feet of ground-floor commercial space and 51 enclosed parking spaces. The through-lot property is located between 3rd and 4th Avenues with frontage on Atlantic Avenue and Pacific Street.

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