Manhattan Builders’ 5-Year Plan: 33,000 New Rentals and Condos
- Construction will focus on northern and southern neighborhoods
- Developers are already struggling to fill their existing units
Photographer: Michael Nagle/Bloomberg
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There’s a surplus of homes in Manhattan, and here come tens of thousands more.
About 33,000 new units for sale or rent are expected within the next five years, with the largest concentrations in the northern and southern parts of the borough, according to an analysis from Marketing Directors, a new-development brokerage.