search

The Real Deal Logo

Trending

HGTV’s “Mr. Flip It” gets four years in jail for $10M fraudHGTV’s “Mr. Flip It” gets four years in jail for $10M fraudLawmakers reach sweeping housing deal with “good cause eviction,” new 421aLawmakers reach sweeping housing deal with “good cause eviction,” new 421aTrump accused of making false statements about $50M Chicago tower loanTrump accused of making false statements about $50M Chicago tower loanH-E-B snags 21 acres in Celina, hinting at development boomH-E-B snags 21 acres in Celina, hinting at development boom
New York

Is modular building already dead?

After March, there will only be one modular manufacturer left in NYC

Capsys space in the Brooklyn Navy Yard
Capsys space in the Brooklyn Navy Yard

In 2015, Carmel Place rose in Kips Bay in just four weeks. It was the city’s first all-micro-unit building and contained 55 modular units. To many, Carmel Place looks like the future of developing in NYC. Modular building has long promised to reduce construction costs and produce fast top outs. But with NYC’s main modular builder, Capsys Corp., leaving its space in Brooklyn Navy Yard, the future of modular manufacturing in NYC is looking grim.

Capsys is leaving the Navy Yard after 20 years in March due to a rent increase. That leaves just one modular manufacture in the city, Forest City Modular, according to Curbed. And Forest City Modular just announced potential layoffs.

Sign Up for the undefined Newsletter

Still, Robby Kullman, manager of Capsys, thinks there is hope in New York for modular building.

“The demand is really high,” he told Curbed, noting that 12 different companies approached him to inquire about modular construction in the past month. “The biggest challenge is that New York City is an expensive place to do business.” [Curbed] – Christopher Cameron

Tags
Modular Construction