Showing posts with label building permits. Show all posts
Showing posts with label building permits. Show all posts

Aug 15, 2014

NYC Residential Building Permit Comparison


REBNY Research department (Real Estate Board of New York) compared the peak year for housing production (new units of housing permitted) before the recession (generally 2005-2008) in New York, San Francisco, Boston, Seattle, and Washington D.C. with their housing production in 2013. 
New York City has by far the largest population and the most housing units of any of these major U.S. cities.

Of these five cities, New York is the only city whose production has not reached its pre-recession peak.  However, building permit levels are on the rise in NYC for 2014, up almost 2,500 units from the same time last year.  

If NYC experiences the same level of increase in building permits in the second half of 2014 as it did in 2013, its annual total will compare positively with the average annual new housing unit permits we achieved in the last decade.  The last decade was the highest annual average in thirty years.  

Aug 28, 2008

Construction Activity Still Booming in NYC

More than 17,000 building permits were issues throughout NYC in June 2008, compared to only 4,028 permits issued in June 2007. A 325% increase.

In Manhattan 5,751 permits were issued in June 2008 compared to only 585 permits a year ago. Many developers are moving forward with projects prior to the expiration of the 421-A tax benefits.

In the first six months of 2008, there was a total of 26,851 permits issues compared to 16,650 in January through June 2007. A 61% increase. The number of permits equals the number of resedential units under construction.

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