Q3 2025 Construction Pipeline Report

This report examines new building job application filings submitted to the Department of Buildings, providing historical comparisons and insights into the current state of development in New York City.  

The report shows a year-over-year and quarter-over-quarter uptick in overall construction activity by both building permits and construction square footage. 

Multifamily housing activity alone increased in Q3 2025, significantly surpassing the historical average since 2008 but still falling short production goals set by the Governor and Mayor to add 500,000 new units over the next decade.

At the same time, Q3 2025 continued the recent trend of a proliferation of small and medium sized buildings, including a surge in exactly 99-unit projects.