The Real Deal New York

Almost 3K new resi units came online in Brooklyn during the third quarter: analysis

Borough was one unit away from tying record from Q3 of 2016
By Eddie Small | October 27, 2017 08:00AM

2 North 6th Street and 325 Kent Avenue

Brooklyn came tantalizingly close last quarter to tying its record for new residential units, falling short by literally one home.

The Department of Buildings issued temporary certificates of occupancy for 2,839 housing units in the borough in July, August and September, clearing the way for thousands of new tenants to move into Brooklyn homes, according to an analysis of new building filings by The Real Deal for projects 5,000 square feet or greater or with more than three units.

This was just one unit shy of the 2,840 TCOs the city issued during the third quarter of 2016, a record high for Brooklyn dating back to at least the third quarter of 2008, according to the analysis. The units were spread across 80 projects, the third highest amount for the borough over the same time period after the 86 projects in the fourth quarter of 2016 and the 101 projects in the first quarter of this year.

Overall, about 12,000 apartment units have come online in the past five quarters in Kings County.

Brooklyn had a significantly higher number of residential units come online this past quarter than Manhattan, Queens and the Bronx, which respectively had TCOs issued for 1,481, 1,013 and 659 new units. The units were spread across 14 projects in Manhattan and the Bronx and 19 projects in Queens.

Some of the larger Brooklyn projects from the third quarter include Douglaston Development’s 40-story, 554-unit rental tower at 2 North 6th Street on the Williamsburg waterfront, and Two Trees Management’s 522-unit project at 325 Kent Avenue, the first development in Williamsburg’s Domino Sugar site. Forest City New York’s 303-unit project at 38 6th Avenue in Prospect Heights was approved during the third quarter as well.

Correction: An earlier version of the story gave the incorrect address for Forest City’s 303-unit project.