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.
Construction on 842 Sixth Avenue in NoMad, has been stalled for the past several months and it is unclear as to if and when this planned 100,000-square-foot project will move forward. Designed by Danny Forster & Architecture, the 26-story building will house a 168-room AC NoMad Hotel by Marriott International and is slated to become the world’s tallest modular hotel. Concord Hospitality is the developer of the Midtown project, which sits between West 29th and West 30th Streets. Also part of the design program would be multiple outdoor terraces and a rooftop bar.
Leasing has officially begun for DVORA 175, a 14-story rental building in downtown Jersey City. The new property is located at 175 Second Street at the verge of Jersey City’s Powerhouse Arts District, Hudson Exchanges, and The Waterfront neighborhoods.
Permits have been filed for a six-story residential building at 684 Dean Street in Prospect Heights, Brooklyn. Located between Underhill Avenue and Vanderbilt Avenue, the interior lot is a few blocks north of the 7th Avenue subway station, serviced by the B and Q trains. Sam Zima under the 684 Dean Partners LLC is listed as the owner behind the applications.
Exterior work is getting closer to completion on the Virgin Hotel, a 476-foot-tall tower at 1225 Broadway in NoMad. Designed by Stantec and developed by Lam Group, the 38-story project will yield a total of 300,000 square feet with 460 hotel rooms. Sir Richard Branson of Virgin Group will be in charge of managing the property, which will be the first Virgin Hotel in New York City.