The Real Estate Board of New York (REBNY) has released its October Multi-Family Foundation Plan Application Report, providing valuable insights into the current housing market in the city.
In October, there were 21 filings for project foundations, a slight increase from September’s 19. These filings proposed a total of 1,902 dwelling units – a significant surge compared to the previous month.
However, looking ahead to 2023 paints a more cautious picture. By October of this year, only 242 foundation project filings had been made for the year as a whole. This projects to just over 9,000 proposed dwelling units for the entire year – well below Mayor Eric Adams’ and housing experts’ target of building at least 50
