Condo plans nowhere close to pre-crash levels - Rava Realty

Condo plans nowhere close to pre-crash levels

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Condominium-plan submissions to the New York State Attorney General are the highest they’ve been since 2007, according to a The Real Deal Magazine analysis of applications data. The final unit count for 2015 will come nowhere close to pre-crash 2005 and 2006 levels. However, some argue that the lower numbers are healthy for the market. Through the end of November 2015, applications for approximately 12,650 residential condo units were submitted to the AG. That’s more than the 12,000 submitted for all of 2014 but well below the 32,000 seen in 2006.

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