Construction in the city has bounced back from its early-in-the-year doldrums, but projects have still not returned to pre-pandemic levels.
Developers filed plans for 486 new buildings during the third quarter of the year, a 37% increase quarter-over-quarter and a 10% increase year-over-year, according to a report from the Real Estate Board of New York. This was only slightly lower than the quarterly average of 502 new projects since the first quarter of 2008, the report says.
The number of plans for multifamily projects in particular saw a significant year-over-year increase, with developers filing plans for 6,187 housing units, a 20% jump compared with the third quarter of
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