NYC Builders Press on the Gas Pedal

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Based on information gathered from permit applications submitted to the Department of Buildings, builders across the city collectively filed 19,819 residential and hotel construction units from January to March, marking the highest count for any such period since YIMBY began monitoring the data in 2020.

Of the 1,044 new building permits57 were designated explicitly for high-rise constructions spanning ten stories and beyond. These developments are poised to enhance the city’s skyline and add essential density to areas characterized by pedestrian-friendly environments and transit-oriented communities.

(source: ...

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The Manhattan Market Pulse

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The contract activity, the number of signed contracts, for the last month is up 12.6% compared to a year ago, and down 12% compared to the monthly historical average.

The Median Sales Price for a Manhattan apartment is $1.15M, which is 2.9% lower than a year ago.

The supply, or the number of units on the market, is down 1.6% compared to May 2023. Meanwhile, the number of pending sales, or the number of units currently in contract, is ...

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New York City Leading in Millionaires

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A Henley & Partners study revealed that New York City (NYC) has the highest concentration of millionaires globally. The ranking comes as no surprise, given NYC’s status as the largest city in the United States, boasting a population of over 8 million residents. In comparison, the Bay Area, coming in second globally, has approximately 7.75 million inhabitants. Thus, on ...

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Nation’s Fastest-Growing Areas in Florida

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Florida dominated the list of fastest-growing metropolitan areas in the United States from 2022 to 2023, with four out of the top five spots.

The area including The Villages and Wildwood saw the highest growth rate at 4.7%, followed by the Lakeland and Winter Haven metro areas at 3.8%Ocala ranked fourth with a growth rate of 3.4%, while the Port St. Lucie area came in fifth at 3.1%. The only area outside of Florida in the top five was the Myrtle Beach, S.C., area, with a growth rate of 3.7%.

This trend reflects a broader pattern ...

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Miami leads in returning to the office

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Miami is emerging as a frontrunner among major cities in the process of returning to in-person office work, as indicated by a recent report from Placer.ai.

In February, Miami and New York City demonstrated notable trends in the post-COVID return-to-office landscape. In Miami, in-person office visits were down by 9.4% compared to February 2020, while New York City experienced a slightly larger decline of 14.5%.

In New York and Miami, offices drew just 22.5% and 21.9% fewer visits, respectively, in ...

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