Q1 2025 Construction Pipeline Report

The Real Estate Board of New York (REBNY) analyzed the new building job application filings submitted to the NYC Department of Buildings in Q1 2025. This report provides historical comparisons and insights into the current state of development in New York City.

In Q1 2025 there were 332 new building filings, reflecting a 9% decrease from Q4 2024 when there were 366 filings, but a 15% increase year-over-year.

The number of filings in Q1 2025 is 42% below the historical average since 2008.