ML-Implode News - Oversupplied NYC Will See A Flood Of New Apartments And Condos This Year

Around 20,000 new apartments for sale and for rent will be ready by the end of this year, The New York Times reports, citing data from Localize.city. Most of them will be priced at the top of the market,Â which is already oversupplied.
The bulk of these new units will be in Brooklyn, with more than 13,000 units in 421 buildings due to open. Manhattan takes second place with 79 buildings with 6,342 new units. Queens follows with 154 buildings with more than 6,000 new units. The Bronx, which has experienced significant development activity in recent year, will see 2,470 units open up. Staten Island's pipeline is lagging far behind: only 126 units are set to open in New York's least populous borough this year.

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Oversupplied NYC Will See A Flood Of New Apartments And Condos This Year