Not only does New York never sleep, it doesn’t even pause for long, especially when it comes to the construction of residential real estate. While the rate at which new buildings are developed ebbs and flows depending on the strength of the market, there is always something happening in town, whether that means a rash of major projects or more subtle trends in what home buyers are looking for.
As of this writing, things seem to be bubbling throughout the boroughs, with several condominium developments underway at various stages. To highlight just a few:
• A $100-million, 13-story building consisting of 65 units to be erected at East 21st Street and 2nd Avenue, and completed in 2020. The condominium project marks a partnership between Silverback Development and a private family;
• Developer Savanna will repurpose part of the Jewish Theological Seminary at 543 West 122nd Street in Morningside Heights into a 32-story condo tower;
• Near the Main Street subway station in Flushing, the F&T Group aims to sell out a proposed Tangram South condominium development, which will offer 192 residential units and 111 storage spaces;