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The fourth-quarter numbers for New York City’s construction filings are in, and YIMBY is excited to report that the overall figures from October through December dramatically outpace those from the previous quarter. Although the total number of new building filings is slightly down, dipping from 768 in Q3 to 738 in Q4, the number of residential and hotel unit filings surged from 7,217 in Q3 to 13,030 in Q4. Similarly, the total filed-for floor area effectively doubled, rising from 10.6 million square feet in Q3 to 20.3 million square feet in Q4. In effect, not only has the size of the average filing become twice as large during the period, but it also increased in height from an average of 3.2 in Q3 to 4.1 in Q4. The full report in Excel format is available with a subscription to YIMBY’s Building Wire.

During the third quarter of 2020, spanning the period from July through September, developers expressed confidence in the city’s long-term economic future, as evidenced by the 446 building permits filed during the period, nearly matching the 476 filings in the second quarter. Between these applications, which cover all types of projects, the new residential buildings permitted totaled 5,638 units, a decrease from 9,309 the previous quarter, and a drop from 8,063 units submitted in Q3 of 2019. Despite the drop in residential units entering the pipeline for the Five Boroughs, overall permitting activity remains relatively vigorous, and all filings are available in Excel format at the following link.