The following is a preview of one of the hundreds of data sets that will be available on TRD Pro — the one-stop real estate terminal that provides all the data and market information you need.
New York City is building its way back.
A recent report by Zillow indicated that as demand for housing has builder confidence nearing an all-time high across the U.S., the nation’s largest cities are woefully short on homes. The Big Apple, however, appears to be doing its best to keep pace.
The Real Deal analyzed city data to find where the largest residential construction projects were completed in 2021.
Based on New York City Primary Land Use Tax Lot Output (PLUTO) data from September, the most recent available, the map below displays the locations of the top 20 tax lots — based on the sum of residential units — where construction was completed in 2021.
Due to quirks in New York City zoning laws, if a lot had new construction permits that were issued after the designation date for historic landmarks and districts, the year that construction was completed was not updated. For this reason, buildings such as the 1,400-foot Steinway Tower at 111 West 57th Street, the base of which is a designated city landmark, were not included on the map.
Over 2,300 residential units were built across these 20 lots, which account for a total building area of nearly 2 million square feet. Land & Sea Development Corp. owns the single plot with the most units, at 147-07 94th Avenue in Jamaica, Queens. The lot has 543 residential units and 480,000 square feet of building area next to Sutphin Boulevard and Jamaica’s Long Island Rail Road station.
Elsewhere in Queens, three parcels on the Astoria waterfront developed by Cape Advisors and the Pioneer Group total 544 units. One building sits across the now-consolidated lots, which will have a new address of 30-77 Vernon Boulevard.
In the South Bronx, 575 Exterior Street contains 542 affordable units and 500,000 square feet of building area, the most of any parcel on the map, according to the data.
Click a point on the map above to reveal more information about each location.