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Originally Posted by alki
Secondly, do you know how many units are under construction and proposed in NYC? It looks like there are a ton.........a lot more than in years past. Any idea?
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I've done a little research on this. Using Data from Emporis (I have a connection who has a membership for Emporis paid research), Council on Tall Buildings and Urban Habitat, and the NYC Departments of Buildings, I made an extrapolation of the units per month. Its an estimate, might be off (+/-) by 7-10 percent, but the city averages right now, in this economy, an average of 3000-3100 new units of residential build/proposed per month. This includes midrises, highrises, conversions, and low rises. This will rise as De Blasio's plan goes through, but its a estimate, and seems consistent with the data.
If I do a linear fit, it does seem consistent with the growth % in construction when comparing the amounts of units and the rise in construction capital. Keep in mind this is not precise, but I feel its a good indication to get an idea of what we are dealing with.