Upcoming Multifamily Developments in New York City
Where will the people of the city that never sleeps, actually rest their heads in the future?
The answer to that question is simple:
Everywhere.
New multifamily developments are being planned for each borough and each neighborhood.
Over 36,000 residential units were filed with the city in 2019, a 7.1% increase from 2018.
Out of the five boroughs, Brooklyn led the way, with the Bronx, Queens, Manhattan and Staten Island following.
Each of the boroughs also has a mixture of housing types.
It’s not as if downtown Manhattan is only building luxury condos and Brooklyn is only building student housing.
Affordable apartments are going up everywhere and senior housing is always in demand.
With a population density of over 26,000 residents per square mile, New York City has not been a sprawling, wide-open city for quite some time.
Most new multifamily developments are going up higher, rather than wider.
That’s no exception for the undertakings on this list.
Each project will reach at least eight stories and most will sneak into double digits.
We’re going to be looking at some of the mid-sized projects that are either in planning or going to be starting construction in the future.
So, that leaves out Hudson Yards, Pacific Park and the Domino Plant Redevelopment.
With six projects on the agenda, we’ll be bouncing around some of the most popular areas for development.
We’re going to start with a location that’s just a couple blocks from the Apollo Theater.
Urban League Empowerment Center
Neighborhood and Borough: Harlem, Manhattan
| Location | 121 W 125th St |
| Value | $260 Million |
| Schedule | Zoning approval is pending |
| Details | 17 stories, 171 Apartments. Mixture of affordable and market rate. 23,428 square feet of space for the National Urban League. 197,054 square feet of commercial space |
| Contacts | Developer: L+M Development Partners Developer: Empire State Development Developer: Taconic Investment Partners Architect: Beyer Bliner Belle Architects |
Edgemere Commons
Neighborhood and Borough: Edgemere, Queens
| Location | 51-15 Beach Channel Drive |
| Value | > $100 Million |
| Schedule | Plans have been approved by the New York City Planning Commission |
| Details | Redevelopment of the Peninsula Hospital Construction of 11 buildings from 8-19 stories Over 2 million square feet of space Commercial and Medical space Supermarket 2,200 residential units, with 30% being affordable. Units for seniors |
| Contacts | Developer+Owner: The Arker Companies Architect: Aufgang Architects |
Bankside
Neighborhood and Borough: Mott Haven, Bronx
| Location | 2401 Third Ave |
| Value | $950 Million |
| Schedule | Building permits were issued in late 2019. |
| Details | Seven residential towers, 1,350 residential units, one-third of which will be affordable. 34,000 square feet of waterfront park space. 15,000 square feet of retail space including space for Project Destined. |
| Contacts | Developer + Owner: Brookfield Properties Architect: Hill and West Architects General Contractor: Hudson Meridian Construction |
North 8th
Neighborhood and Borough: Williamsburg, Brooklyn
| Location | 292 N Eighth St |
| Value | $150 Million |
| Schedule | Plans have been approved and a building permit has not been issued |
| Details | 11 Stories, 224 co-living apartments, 97 units for students and 127 market rate studios. Lounge, retail space, fitness center, outdoor courtyard. |
| Contacts | Developer + Owner: The Collective Architect: Stonehill & Taylor Architects Interior Designer: One Union Studio |
Soundview Condominiums
Neighborhood and Borough: Soundview, Bronx
| Location | 1580 Story Ave |
| Value | > $100 Million |
| Schedule | Plans have received partial approval from the New York City Department of Buildings |
| Details | 19 stories, over 1.3 million square feet, 562 condominiums. Cellar. 317 enclosed parking spaces |
| Contacts | Developer: Joel Braver with Express Builders |
Sunrise at West 85th
Neighborhood and Borough: Upper West Side, Manhattan
| Location | 2330 Broadway |
| Value | $237.3 Million |
| Schedule | Plans have been approved by the New York City Department of Buildings |
| Details | 18 stories Over 100,000 square feet 162 units A mixture of independent and memory care units Spa, homeopathic care center, rooftop garden and bistro. |
| Contacts | Developer: Hines Developer: Welltower Developer: SLCE Architects LLP |
With more new multifamily developments being proposed every day, New York City is still reaching new heights.
To learn more about local multifamily construction projects near you, request a free trial or talk to a data expert right now at 866-316-5300.
