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Q1 2020

Development in New York City is the fundamental process in which our Metropolis grows.

With 8.4 million people living across just 303 square miles, tall, dense buildings are the mainstay of our city’s housing needs. NYC added 800,000 jobs in 2019 across all sectors. As companies flock to New York City to draw from a highly skilled workforce, our Office Market is demanding new, attractive space to help recruit talented professionals. The growth of e-commerce over the past decade has sparked a demand for industrial space in the outer boroughs. As online retailers battle over customers, delivery speed of products has become increasingly important, fueling the demand for new, highly-efficient, industrial space.

Development Transactions


Number of Sales
49% vs Q1 2019


Total Dollar Volume
-14% vs Q1 2019


Total Buildable SF
-29% vs Q1 2019

Permits Field in Q1'20


Total No. of Permits
-20% vs Q1 2019


Total Proposed ZFA
-47% vs Q1 2019


Total Proposed DU's
19% vs Q1 2019