Pace of residential permit approvals falls between March and May

DOB issued permits for 4,891 housing units during the three-month period

New York /
Jun.June 16, 2017 07:00 AM

The pace of permit approvals for new residential buildings slowed down this spring compared to the beginning of 2017, but activity is still much higher than it was during the lackluster spring of 2016.

Between March and May of this year, the city’s Department of Buildings issued permits for 4,891 residential units. Although this is higher than the 4,294 residential units the agency issued permits for in January and February, the approval pace has dropped off from about 72 units per day to about 53 units per day, according to an analysis by The Real Deal.

However, the number and pace of units that the DOB approved this spring is still quite a bit higher than the 2,440 residential units it issued during the same time period last year.

The biggest project to receive approvals this spring by a wide margin with 921 residential units was Stawski Partners’ TRData LogoTINY project at 23-03 44th Road in Long Island City. The 66-story, 855,411-square-foot mixed-use building is expected to include a library, an indoor swimming pool and 17,000 square feet of retail space.

The size of projects that the DOB issued permits for this spring drops off dramatically after Stawski’s. The next largest residential project that received permits was the redevelopment of the Victoria Theater at 233 West 125th Street in Harlem, which would be 26 stories tall and feature 191 residential units.

Other notable projects that received permits in the spring includes a 15-story building with affordable housing and retail space at 1903 West Farms Road in the Bronx, a 12-story 174-unit low-income housing building at 89-48 164th Street in Jamaica, and a 13-story 167-unit affordable apartment building at 869 East 147th Street in Mott Haven.

The number of residential units permitted by the DOB peaked in April, when it issued permits for 2,439 housing units. In March, the agency approved 1,173 residential units, and in May, it approved 1,279 units.

Most of the new units permitted between March and May were based in Queens, although that is largely due to Stawski’s massive project, which comprised more than 50 percent of the 1,648 units that received permits in the borough. Brooklyn was next with 1,470 approved units, followed by the Bronx with 1,000. The DOB issued permits for 637 units in Manhattan and 136 in Staten Island.

(To view more properties that filed with the DOB in 2017, click here)


Related Articles

arrow_forward_ios
D&F Development Group’s Peter Florey and the development site at the northwest corner of Pulaski and Elwood Roads in East Northport (D&F Development Group, Google Maps)
Four decades in making, East Northport project clears key hurdle
Four decades in making, East Northport project clears key hurdle
From left: Century Development's Group’s George Xu and City/Rybak Development’s Sergey Rybak with 78-29 Austin St./11-36 45 Road
Rybak, Century file to build Queens multifamily projects
Rybak, Century file to build Queens multifamily projects
ZappiCo's Jim Zappi and Pocantico Lake (ZappiCo Real Estate Development, Google Maps)
Developer wants 29 waterfront homes; Nimbys want none
Developer wants 29 waterfront homes; Nimbys want none
Miki Naftali with 215 West 84th Street (Getty, Corcoran)
Naftali takes hit in battle with UWS holdout
Naftali takes hit in battle with UWS holdout
CW Realty's Cheskie Weisz and an aerial of the development site at 296 4th Avenue, 288 4th Avenue, 21 Denton Place (CW Realty, Google Maps)
Cheskie Weisz plans 200 Gowanus apartments
Cheskie Weisz plans 200 Gowanus apartments
Boston Properties CEO Owen Thomas and 343 Madison Avenue (Boston Properties, Getty Images)
Boston Properties plans 1M sf tower at ex-MTA HQ
Boston Properties plans 1M sf tower at ex-MTA HQ
1591 Alps Road in Wayne, NJ and March Associates Construction president Louis March (Google Maps, Getty, March Associates)
From funeral home to strip mall
From funeral home to strip mall
 SL Green’s Marc Holliday with 450 Park Avenue  (Taconic Partners, SL Green)
TRD Pro: Here are NYC’s biggest offices sales of Q2
TRD Pro: Here are NYC’s biggest offices sales of Q2
arrow_forward_ios

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

Loading...