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Rending of 2868 Webster Avenue. Credit: Stephen B. Jacobs Group

Construction Financing Secured For 2868 Webster Avenue In Bedford Park, The Bronx

7:30 am on August 1, 2024 By Max Gillespie

The New York City Housing Development Corporation, The New York City Department of Housing Preservation and Development, and Douglaston Development have announced the closing of construction financing for 2868 Webster Avenue, a 12-story, 277-unit affordable housing building in Bedford Park, The Bronx. The 250,000-square-foot project is the second phase of a two-phase affordable development following 2850 Webster Avenue, a 188-unit senior housing structure that opened in fall 2023.

Rendering of 570 Washington Street. Designed by CookFox and SLCE

New Financing Secured For 570 Washington Street In West Village, Manhattan

7:00 am on July 30, 2024 By Max Gillespie

Jonathan Rose Companies and Atlas Capital Group recently announced the closing of financing for 570 Washington Street, a 180,000-square-foot residential development in Manhattan’s West Village. The project will provide 175 units of affordable senior housing, available to households earning 50 percent of the area median income and below.<

Rendering of Timbale Terrace, via nyc.gov

Timbale Terrace Receives Final Approval In East Harlem, Manhattan

7:00 am on July 29, 2024 By Max Gillespie

Timbale Terrace, an affordable housing development in East Harlem, Manhattan, has received final approval and will now advance to construction financing. The project is a partnership among Mega Group Development, the Lantern Organization, and the New York City Department of Housing Preservation and Development, and will be built on an underutilized City-owned parking lot on Park Avenue between 118th and 119th Streets.

YIMBY’s Q2 2024 Construction Report Counts More Than 1,000 New Building Filings in New York from April Through June

8:00 am on July 24, 2024 By Vitali Ogorodnikov

As New York City simmers in some of the year’s hottest weeks, the city’s construction and real estate markets remain equally hot. The second quarter of the year, which spans the period from April through June, registered a total of 1,077 new building permits filed with the city’s Department of Buildings. As such, Q2 2024 counts the second-highest number of new permit filings since YIMBY began its tally at the start of the decade and continues the strong trend established in the two preceding quarters, which now count the first- and third-highest permit filing totals. The 14,795 filed-for residential and hotel units also make for one of the highest quarterly counts of the decade, as do the 21.5 million filed-for square feet of new building floor area. YIMBY has meticulously vetted each of the thousand-plus new building permits submitted to the city in the second quarter and compiled a series of charts and analyses that look at emergent overarching trends.

New York YIMBY’s Q1 2024 Construction Report Tallies Record-Breaking 19,819 Residential and Hotel Units

8:00 am on May 8, 2024 By Vitali Ogorodnikov

New York YIMBY has tallied the records for new building permit filings for the first quarter of 2024, and the results are one for the record books. According to data compiled from permit filings submitted to the Department of Buildings, during the three-month period from January through March, builders throughout the city filed a combined total of 19,819 residential and hotel units, the highest total for any three-month period since YIMBY started tracking the statistic in 2020. Similarly, the combined filed-for square footage of 26 million is also the highest quarterly tally for the decade so far.

New York YIMBY’s 2023 Fourth-Quarter Construction Report Sets Record for New Building Filings

8:00 am on February 6, 2024 By Vitali Ogorodnikov

New construction permit numbers are in for the fourth quarter of 2023, and the figures are encouraging. From October through December, New York’s developers filed permits for 1,521 new buildings, the highest quarterly tally for the 2020s decade so far. The figure represents a 54-percent increase from the third-quarter permit count of 986. The total filed for floor area also increased significantly, rising from 18.3 million square feet in Q3 to 23.1 million square feet in Q4 (a 26-percent increase), as did the number of filed for residential and hotel units, which grew from 14,010 in Q3 to 16,396 in Q4 (a 17-percent increase). The charts and analyses below offer a detailed breakdown of the fourth quarter’s permit filings. The full list of quarterly filings, with detailed information on every project, is available with a subscription to YIMBY’s Building Wire.

New York YIMBY’s 2023 Third-Quarter Construction Report Shows Sustained Strong Permit Filing Activity

8:00 am on November 6, 2023 By Vitali Ogorodnikov

Construction is booming in New York, confirming that last quarter’s surge was no aberration. New York YIMBY’s third-quarter report, which covers June through August, indicates a continuation of the development momentum from the spring when total filed-for square footage rose by 73 percent.

New York YIMBY’s 2023 Q2 Report Counts 16,202 Residential and Hotel Unit Filings, a 77 Percent Increase Over Previous Quarter

8:00 am on July 13, 2023 By Vitali Ogorodnikov

The second quarter of the year has come to a close, and as New Yorkers enjoy some of the year’s warmest weather and longest days, YIMBY has compiled our latest comprehensive quarterly overview of new project filings with the Department of Buildings from April through June. Given the acute housing crisis that continues to grip the city, we are happy to report that the Q2 total of 16,202 residential and hotel unit filings represents a dramatic 77-percent surge over the previous quarter’s total of 9,138. Equally promising is the near-doubling of the total filed-for square footage, which rose from 13.4 million square feet in Q1 to 23.2 MSF in Q2. In all, developers submitted filings for 956 new buildings during the three-month period, a notable increase from the previous quarterly total of 840. Below we look at the findings via a series of charts and analyses. The full list of quarterly filings, with detailed information on every project, is available with a subscription to YIMBY’s Building Wire.

YIMBY’s 2023 Q1 Report Tallies 9,138 Residential and Hotel Units Filed From January Through March in New York City

8:00 am on April 17, 2023 By Vitali Ogorodnikov

As New York City abounds with fresh spring blooms, New York YIMBY has fresh numbers reflecting the permit filing activity that took place in the first quarter of 2023. In the period spanning from January through March, the Department of Buildings registered permits for 840 new buildings (surpassing last year’s quarterly average of 806), combining for a total of 13.4 million square feet. Of these, 668 building will be allocated for residential and hotel use, and will contribute a total of 9,138 units to the city. The full quarterly report, summarized below in a series of custom charts and analyses, is available with a subscription to YIMBY’s Building Wire.

YIMBY’s 2023 Construction Report Reveals 60 Percent Rise in Filings Over Previous Year

8:00 am on February 17, 2023 By Vitali Ogorodnikov

According to the cumulative data for permit filings for new construction in New York City in 2022, the Big Apple’s construction scene has some rather positive numbers to report. The data from the Department of Buildings shows that, over the course of the year, the city’s developers filed for a total of 3,225 new buildings, a 60 percent increase over last year’s tally of 2,017 permits. The total volume of new filed-for floor space also rose from 53 million square feet in 2021 to 66 million square feet in 2022. The combined volume of new residential and hotel unit filings increased from 45,019 in 2021 to 49,965 in 2022, and the full report in Excel format is available with a subscription to YIMBY’s Building Wire.

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