New York leads the country in apartment construction once again, with 33,000 units to be opened in 2023 (apartments)

[ckhthankgod]

Some interesting information…

“The New York metro is far from hitting the brakes on its spectacular performance in terms of post-pandemic apartment construction. In fact, New York is America’s #1 builder in 2023, with no less than 33,000 new rental units set to come online by the end of the year. Here, almost one-third of the apartments that will be added throughout the metro this year will be located in Brooklyn (9,825 units, more exactly), while 4,430 rentals will be opened in Queens and 3,770 rentals will be completed in Manhattan.

This construction spree is a direct result of New York’s long-standing housing shortage, which has created pent-up demand for apartments. In addition, New York is the only Northeastern location in the top 20 metros for apartment construction in 2023.”

You can find more information in terms of where the area rates in relation to other areas across the country: https://www.rentcafe.com/blog/rental...struction-2023

[mathjak107]

that is 6,000 less then the historic average.

almost 40% will be high rent luxury apartments in manhattan

[ckhthankgod]

Here is some information about multi family units: https://www.cbre.com/-/media/project...ly-figures.pdf

Also, the thread that put me on to this information: https://www.city-data.com/forum/city...ities-new.html

[Gantz]

Those are very small numbers on per capita basis.
Also, since most of the construction is in NJ and NYC, that means most of the suburbs are not building much or anything at all.

[jjbradleynyc]

NYC development is still red hot. There are so many buildings going up all over.

Here in Brooklyn, Gowanus is going to be a completely different neighborhood in 5 years. I think there's like 6 or 7 high rises going up now, and another 10 - 12 proposed.