More mega-developments in the outer boroughs

Posted by:

More mega-developments in the outer boroughs

Brooklyn and Queens will see more ambitious real estate projects in 2017 compared to Manhattan. In fact, according to an analysis done by The Real Deal of offering plans accepted for sale by the New York State Attorney General, more condos in Brooklyn and Queens were approved to launch sales over the past 12 months. Between November 2015 and November 2016, a combined 3,577 condos were approved for sale in the two outer boroughs compared to 2,614 in Manhattan.

Of the 10 largest ground-up real estate construction projects slated for completion in 2017, five are located in either Brooklyn or Queens. (This list was compiled by an analysis by The Real Deal of Department of Buildings permits, news reports and sources.)

The largest project expected to be completed this year is AVA DoBro, a 870,000-square-foot 826-unit rental tower at 100 Willoughby Street in Downtown Brooklyn that is slated to open sometime this quarter. Apartments list for as much as about $11,500 per month.