Skip to content
Pursuits
Real Estate

A New Development Squeeze Will Push Rents Higher for New Yorkers

Fewer apartments, more luxury housing: A report from Corcoran details the next three years’ development pipeline.

Video player cover image
New York's Covid Comeback Masks Major Economic Pain
By

The good news first: New York is set to get 33,000 new apartments in the next three years. The bad news? It’s a significant decline from the last decade, according to a new pipeline report from Corcoran. 

“It’s 2,000 fewer units annually than the historical average,” says Pamela Liebman, Corcoran’s president and chief executive officer. “It’s definitely a mixed bag.”