Filing statistics for the first quarter of 2021 are in, and New York YIMBY has prepared a detailed report that analyzes the findings. During the period from January through March, applications were filed for 3,566 new residential units across the five boroughs. Compared to the first quarter of 2020, the number of buildings filed dipped slightly in January (from 163 in 2020 to 135 in 2021) and negligibly in February (from 158 in 2020 to 158 in 2021). The unexpected surprise came in March, when a total of just six new building applications were filed over the course of the month, which is a collapse compared to the 147 filings registered in March of last year. However, many of the projects filed for during this period were conceived during the height of local and global economic uncertainty. In addition, in early March of 2021, the city implemented a moratorium on permit filings for properties that had unresolved violations, which may have further deflated the total number of new buildings filed. The full Excel spreadsheet of all Q1 2021 applications is available with purchase of the Building Wire subscription.
Construction is nearing completion on 41-03 21st Street, a nine-story, 115-room hotel in Long Island City, Queens. Designed by Michael Kang Architect and developed by Vision Asset Group LLC, the 91-foot-tall structure stands at the corner of 21st Street and 41st Avenue by the 21st Street-Queensbridge station, servicing the F train. Sam Sai Hospitality LLC is set to operate the 34,440-square-foot hotel.
The New York City Council has unanimously approved zoning text amendments to facilitate the construction of a new mixed-use development at 737 Fourth Avenue in Sunset Park, Brooklyn. The proposed project will create 134 rental apartments, ground-floor retail, and publicly accessible car and bicycle parking.
The affordable housing lottery has launched for 1250 New York Avenue, a four-story residential building in Flatbush, Brooklyn. The 9,628-square-foot development was designed by Paul J. Hessel, and yields ten units. Available on NYC Housing Connect are three units for residents at 130 percent of the area median income (AMI), ranging in eligible income from $65,143 to $167,570.
Construction is continuing to rise on 150 West 48th Street, a 330-foot tall, 38-story Hilton hotel in Times Square. Designed by Gene Kaufman Architect and developed by Sam Chang of McSam Hotel Group, the 320,000-square-foot structure will yield 1,048 hotel rooms, up from the previous reported count of 974, making it the ninth-largest hotel in New York City. McSam Hotel Group purchased the site from Rockefeller Group in early 2019 for $140 million, and received a $250 million construction loan before work broke ground in 2020. Omnibuild is in charge of constructing the hotel.