Manhattan new building permits drop 70%

New York /
Jul.July 08, 2009 01:07 PM

New building permits issued in the first five months of the year showed a year-over-year drop in all five boroughs for the second year in a row, according to data prepared by the Department of Buildings for The Real Deal. Citywide, permits were down 48.5 percent from the same period last year to 720, and were down 69 percent from the first half of 2007, when the building boom was still in full force.

Of the five boroughs, Manhattan saw the biggest drop from last year, with 18 building permits filed between January and May, or 72.3 percent fewer than in the same period of 2008. This number was off 71.9 percent from 2007. Brooklyn and the Bronx were also hit hard, seeing a 66 percent drop to 115 permits, and a 67 percent drop to 73 permits, respectively. New permits in Brooklyn were off 79.9 percent from 2007, while in the Bronx they were off 81.1 percent.

It remains unclear whether or not there is a turnaround in new construction anywhere on the horizon, but Henry Kita, senior vice president of the Building Trades Employers’ Association of New York, said that based on economic indicators, it’s doubtful it will come this year.

“It looks like it will take well over a year to see things move upward again, as far as construction is concerned,” Kita said. “But then again, just as nobody saw the [economic] fallout coming, maybe conditions will suddenly get rosier and surprise us.”

Both Queens and Staten Island saw a more gentle decrease in new building permits. In Queens, there have been 337 issued this year through May, down 39.9 percent from the first five months of 2008, and down 66.4 percent from the same period in 2007. There were 177 permits issued in Staten Island, a 17.3 percent decrease from the same period in 2008, but down 40.8 percent from the same period in 2007.


Related Articles

arrow_forward_ios
DOB NOW (NYC DOB, Getty)
Buildings Department audits plunge as agency closes loophole
Buildings Department audits plunge as agency closes loophole
Eric Ulrich and Kazimir Vilenchik (Twitter via Eric Ulrich, LinkedIn)
Mayor taps Republican ex-Council member as buildings chief
Mayor taps Republican ex-Council member as buildings chief
(iStock/Photo Illustration by Steven Dilakian for The Real Deal)
NYC construction deaths ticked up in 2021, but incidents notched 3-year decline
NYC construction deaths ticked up in 2021, but incidents notched 3-year decline
NYC construction deaths fell in first year of pandemic
NYC construction deaths fell in first year of pandemic
NYC construction deaths fell in first year of pandemic
Owner faces criminal charges in fatal Midtown façade incident
Owner faces criminal charges in fatal Midtown façade incident
Owner faces criminal charges in fatal Midtown façade incident
(iStock)
Drones’ role in facade inspections up in air
Drones’ role in facade inspections up in air
City approves mass timber, basement apartment rules
City approves mass timber, basement apartment rules
City approves mass timber, basement apartment rules
A condo building couldn’t collapse in NYC. Or could it?
A condo building couldn’t collapse in NYC. Or could it?
A condo building couldn’t collapse in NYC. Or could it?
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...