While YIMBY normally covers aggregate new building applications on an annual basis, this year, we have released our first mid-year pipeline report, and the results are surprisingly positive. After two years of declining applications following the frenzies of 2014 and 2015, the preliminary numbers for 2018 appear to be signaling a major uptick in activity. Year-over-year filings of new residential units have grown substantially, rising from 9,134 in the first six months of 2017, to 15,305 in 2018 — an increase of 67.5%.
12 West 57th Street
The development saga continues on a hotly contested segment of West 57th Street located just south of Central Park, between 5th and 6th Avenues. Solow Management Corp has filed fresh permits for 12 West 57th Street, revealing a new 52-story mixed-use skyscraper with a proposed height of 672 feet.