Apartment construction plummets in New York

Construction pipeline continues to erode after peaking in early 2024

Apartment buildings under construction in Manhattan have become a rarer sight despite the city's low vacancy rate and high rents. (CoStar)

CoStar Analytics

September 5, 2025 | 3:34 P.M.

New York's apartment market is critically undersupplied, and the latest CoStar data assures that this will remain the case in the months ahead.

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