Still, despite ranking first, the city’s total—19,948 new units—is a decrease from last year, which saw 20,682 new apartments hit the market. The report ranked 101 metropolitan areas, and New York’s total includes developments in the tri-state area, not just the five boroughs.
Brooklyn led the new development tally by borough, but Long Island City, Queens, took top honors as New York’s most active neighborhood for a second year in a row, with 2,100 new units planned for completion this year. It was closely followed by Williamsburg, with 1,932. Downtown Brooklyn, with 1,118, rounds out the top three.
Two other Brooklyn neighborhoods and three in Manhattan claimed the remaining five spots included in the report: Fort Greene (986), East Harlem (764), Hell’s Kitchen (698), Lincoln Square (651), and Crown Heights (368).
Following New York are Dallas-Fort Worth, with 17,132 new units expected; and Denver, with 15,187. The report also shows that apartment construction across the country has slowed year-over-year, marking the end of a six-year growth period. Overall, the total number of new apartments to be delivered in the U.S. dropped 11 percent compared to 2017.
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