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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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.
Join my VIP Manhattan buyer program and receive new construction listings by email.
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