The Real NYC Housing Boom Isn't in Manhattan
Onex Corp., Canada’s largest private-equity firm, plans 795 condos across three towers in a project called Grand at Sky View Parc. Source: Onex Corp. via Bloomberg
For AvalonBay Communities Inc., the next promising area for New York development is in southeast Brooklyn, at the second-to-last stop on the B train and off a bustling strip of discount stores and fruit stands.
There, in Sheepshead Bay, the second-biggest publicly traded U.S. apartment landlord is planning 200 luxury rentals in the tallest tower the community has seen in decades. The project, about a 45-minute subway ride from midtown Manhattan, is also the most remote within the city for the company.