Ah Manhattan. The Big Apple. The City of Lights. Gotham. As a former resident of the five boroughs (Park Slope in Brooklyn), I can personally attest that New York City is in a boom like seemingly every other major city in the United States. We’ve already written about San Francisco, Los Angeles, and Boston, so this week we’ll cover New York. In two weeks time we will cover Brooklyn new construction.
New York, compared to the previous cities covered, has relatively little new residential building planned or under construction. By the numbers:
Because New York is so dense, and the island thin yet tall, often the only way to go with construction is towards the sky. However, New York does not have the same building height restrictions as other cities, so buildings are often able to be tall enough to keep up with the rising housing demand. This is seen by the fact that these 30 buildings supposedly contain 7,000 units! If we look broader the whole Hudson Yards Project on the West Side will account for 5,000 units total.
Here are Manhattan’s future residential buildings, mapped with ALN data (source):
Breaking the buildings down by NCR Status (aka project progress), there are:
- 13 In Research
- 8 Planned
- 5 Under Construction
- 4 in Construction/Lease-Up (meaning still under construction, but accepting leases)
The notable buildings are:
- 301 E 50th St, New York NY 10022 (StreetEasy)
- 4460 Broadway, New York NY 20040 (StreetEasy)
- 605 W 42nd St, New York NY 10036 (StreetEasy)
- 550 W 54th St, New York NY 10019 (HotPads)
- Hudson Yards (Curbed NY)
Come back next week when we bring you the future of Seattle construction!