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By Accord Real Estate Group

Brooklyn Neighborhoods led New Housing Built in 2023

May 19th 2024
Tags: All about Brooklyn New York, Brooklyn Real Estate

According to a recent report by The Department of City Planning, 4 Brooklyn, NY Community Districts are in the 10 citywide community districts that saw more residential development in 2023 than the city's other 49 districts combined!

The 4 Brooklyn districts are District 1 (Greenpoint-Williamsburg), District 2 (Brooklyn Heights, Dumbo, Downtown Brooklyn), District 8 (Crown Heights, Prospect Heights), and District 5 (East New York, Cypress Hills, New Lots, Starrett City).

In 2023, almost no housing was built in the Southern Brooklyn neighborhoods of Bay Ridge, Dyker Heights, Bath Beach, Bensonhurst and Coney Island. Housing in these neighborhoods are mostly low rise apartment buildings, built in the 1920's and 1930's as well as many single and 2 family homes.

The numbers speak for themselves:

2,200 housing units were built in District 1, just behind a Bronx neighborhood. District 1 also had a significant number of alterations/renovations done.

District 2 saw 1,600 new housing units built.

District 5 saw 794 new housing units built

District 8 saw 1,133 new housing units built.

The biggest projects in Brooklyn, New York were in Greenpoint Landing's 35 Commercial Street, in Downtown Brooklyn, The Brooklyn Tower, Brooklyn's 1st “supertall” residential skyscraper and the tallest building in the borough and in Prospect Heights, the 2 building project 595 Dean Street, part of the overall Pacific Park development.

According to the Department of City Planning, on the flip side of this good news, the 15,359 new homes that received building permits in 2023 is the lowest since 2016. The expiration of the 421A tax incentive program for builders, was the cause of the drop in permits.

The Mayor's City of YES for Housing Opportunity Proposal would enable more housing to be built in every neighborhood around the city.

To be continued...

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