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Is NYC development nightmare over?

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Most New York City developers are likely relieved to be almost six months into 2010, far away from the nightmare of a year in 2009, although not all developers are optimistic about this year. New building permits in the city in the first 10 months of 2009 dropped 64 percent year-over-year to 895, according to the 2010 Data Book (see a new development overview below). When it came to stalled projects in 2009, Brooklyn led the city with 228, as of December, followed by Queens with 133 and Manhattan with 78. While the condo market was bleak, sales did happen last year, and in greater number as the year wore on. To purchase the 2010 Data Book, click on the magazine cover, click here or see the link at the top of The Real Deal website. TRD

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