The New York Times ran an interesting article yesterday on a fascinating new website, NYC Active Major Construction. Developed by the DOB (Department of Buildings), the website is essentially a map overlayed with every major construction site or alteration, with additional links (to the DOB’s website) on individual construction projects.
The website also includes data widgets on the right column that display a variety of information. If zoomed out completely, the “# Active Permits”, “Total Square Footage”, and proposed “Proposed Dwelling Units” reflects data for the entire city. As of this writing, there are 7,437 active permits, 197,348,798 total square feet under construction or alteration, and 132,645 proposed dwelling units underway across the five boroughs. You can also isolate data for specific boroughs, see total permits for each borough, and what developers have the most permits on file (which happens to be Tishman Speyer). The data is updated daily. Let’s zoom in a bit on a specific area.
Yep, that’s Williamsburg. In the zoomed area there are 202 active permits, nearly 8.25 million square feet under construction, and over 6,700 residential units in varying stages of completion. Each dot is clickable, and provides information as to what type of building is permitted, number of units, ownership details, links to DOB data, etc. Perhaps more importantly, the website visualizes the demand of neighborhoods across the city. Although active construction and alternation is represented throughout the city, there are clear clusters in Williamsburg, the West Side, the Financial District, south of Prospect Park, along the J line, especially west of Broadway Junction, and Flatbush Avenue.
At the end of the day it’s another excellent tool for tenants – perhaps where to avoid renting. If a tenant wants to avoid gentrifying areas where real estate prices are usually most expensive, it may be best to settling where construction is lightest. Food for thought.