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REBNY Sees Sizable Uptick in New Building Filings
The Real Estate Board of New York (REBNY) on Tuesday reported a sizable increase in new building filings and even more significant increases in total proposed construction square footage and new filings for residential units across New York City in 2021’s fourth quarter.
REBNY’s Quarterly Construction Pipeline Report showed the total number of new building filings in Q4 2021 was 665, a 37% increase from Q3 and a 22% increase year-over-year. It’s the largest number of new building filings in a single quarter since Q2 2016 and is 32% greater than the historical average.
“This significant quarterly increase in large-scale construction is creating good jobs and much-needed housing at a critical moment in the city’s path to full economic recovery,” said REBNY president James Whelan. “But we can’t take our eye off the ball – and we still have a long way to go toward meeting our city’s long-term needs.”
- ◦Development
