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Building Permits for NYC Residential Units Topped 20,000 in 2014; Up 11 Percent From Last Year and 84 Percent from 2012
March 26, 2015
The New York City Department of Buildings (DOB) authorized construction of 20,329 residential units in 1,513 buildings in 2014, an 11 percent increase (in units) from 2013, when permits were issued for 18,378 units in 1,383 buildings, according to a New York Building Congress analysis of U.S. Census data.
This marks the fifth consecutive year that the number of authorized residential units has increased from the previous year. In addition to the double-digit percent increase from 2013, the number of permits issued in 2014 was up 84 percent from 2012, when 11,034 permits were issued, and up 241 percent from a post-recession low of 5,953 units in 2009.