【World Property Journal】New York City Construction Activity Near Historic Lows in 2021
Based on new data from the Real Estate Board of New York, total square footage and new multiple dwelling filings for proposed construction in New York City are both at lows not seen in a decade, indicating significant obstacles to a full economic rebound in New York City.
The proposed 5.4 million construction square feet in Q1 2021 is the lowest such figure since Q4 2010, while first quarter filings for new multiple dwelling buildings have reached their lowest point since Q3 2011.