The number of residential building permits issued in New York City in the first quarter of this year was 46 percent lower than the same quarter last year, according to the U.S. Census Bureau.
The report said that 558 permits were issued the in the first three months of this year compared to 1,038 in the same period last year. More permits were issued in the city in 2007 than in any year since 1972.
The report indicated that the number of permitted residential units also declined in the first quarter 46 percent to 3,893 compared to 7,264 in the first quarter of 2007.
The steepest decline this most recent quarter was in Manhattan where the total was 485 units, a 69 percent decline from the previous year's first quarter.
The report said that 558 permits were issued the in the first three months of this year compared to 1,038 in the same period last year. More permits were issued in the city in 2007 than in any year since 1972.
The report indicated that the number of permitted residential units also declined in the first quarter 46 percent to 3,893 compared to 7,264 in the first quarter of 2007.
The steepest decline this most recent quarter was in Manhattan where the total was 485 units, a 69 percent decline from the previous year's first quarter.
Architecture Critic
Carter Horsley
Since 1997, Carter B. Horsley has been the editorial director of CityRealty. He began his journalistic career at The New York Times in 1961 where he spent 26 years as a reporter specializing in real estate & architectural news. In 1987, he became the architecture critic and real estate editor of The New York Post.
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