Q4 2021 New Building Construction Pipeline Report

The Real Estate Board of New York (REBNY) has examined the new building job application filings submitted to the NYC Department of Buildings for the fourth quarter of 2021, analyzing the data for Q4 as well as the year as a whole. This report dissects the information and draws historical comparisons in order to contextualize and provide an understanding of the current state of development in New York City.

With 665 new building filings in Q4 2021, the volume of filings reflects a 36.83% increase compared to the previous quarter and a 22.24% increase year-over-year. This is the largest number of job filings any single quarter experienced since Q2 2016 and is 36.55% higher than the median and 32.37% higher than the average since Q1 2008.