Since tax abatements, including 421-a and J-51, last for a certain number of years and begin to phase out at a certain point, it’s important to know if a building is part of one of these city- or state-sponsored...
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NYC property tax charts help you know what the future looks like
Marketproof New Development & Condo, the leading condo data and analytics platform, now provides handy charts showing historical and future property taxes for NYC new development and resale condos. Share the data In...
NYC residential tax abatements: all you need to know (421-a, J-51)
New York City offers several different tax abatements to building developers that can lower condominium units’ property taxes for a set number of years. Their goal is usually to incentivize development in certain...
April 2022 Report: Sponsor Contracts Dip, But The Market Is Still Elevated
New York City’s new development market reported 397 sponsor contracts in April 2022, showing a 14% drop in overall volume from March that was more pronounced in the outer boroughs. Manhattan had a slight 3% dip while...
March + Q1 2022 Report: Contracts Spike 15%, Ending Strongest 1st Quarter on Record
New York City’s new development market just completed its strongest first quarter and third most active quarter to date since Marketproof began tracking sponsor contracts in 2015. Condominium projects across Manhattan...
Your Guide to NYC Affordable Housing
Here in New York City, we spend a lot of time talking about how unaffordable everything is (That cocktail is $20? You pay $3,000 a month to live in 300 square feet?), but the truth is that there’s an entire governmental...
February Report: NYC New Developments Report 26% More Sponsor Contracts; Queens is Gaining an Edge
February was another strong month for new development sales across New York City. Developers reported 402 new sponsor contracts, a 26% increase from the month prior and a 35% increase over the same period last year...
What is an Environmental Impact Statement?
Environmental Impact Statements (EIS) can be described as executive summaries of the environmental (both to the physical land and to the societal environment) effects that a proposed development project will have on its...
Everything you need to know about rezoning in NYC
There’s so much news out there about different New York City neighborhoods being rezoned. Most people may understand that this means, very simply put, that more buildings will get constructed in said neighborhood. But...
One Manhattan Square leads NYC new development sales
Projects in Brooklyn and Queens tie for the second spot One Manhattan Square, Extell Development’s 814-unit condominium in Manhattan’s Two Bridges neighborhood, is selling faster than any other new development in New...
New Sales Velocity Tool Shows Which Developments Are on Top
Marketproof subscribers now have access to a new tool for comparing Sales Velocity among NYC new developments. What is sales velocity? Simply put, sales velocity is a measure of how quickly units are selling in a...
January Report: New Development Market Activity Normalizing as Prices Rise
Condo contract activity matches pre-pandemic levels, but prices are increasing. New York City’s new developments reported 313 sponsor contracts in January 2022, representing a 13% decrease from the month prior yet...
