In the first half of 2018, 12,800 new apartment units were built in New York City, and another 31,000 new units are expected by 2020, according to a recent report by Localize.city, a real estate knowledge platform.
And which neighborhood are many of these new units being constructed in?
You guessed it: Bushwick will be home to over 2,500 — or, a little over 8 percent — of the city’s new apartment units, making it the neighborhood with the third highest number of new units coming by 2020.
Long Island City takes the top spot for new units by 2020, with a mind-blowing 6,374 units coming up. The new units will come in handy now that Amazon has confirmed that Queens will be the site for one of the company’s HQ2’s. Williamsburg snags the number two spot, with 3,470 units planned by 2020.
Combined, Long Island City, Williamsburg, and Bushwick account for 25 percent of all the expected new apartment units that will come up by 2020. Of the city’s top ten neighborhoods for new units by 2020, all except one are in either Queens or Brooklyn.
If you walk the streets of Bushwick, it’s painfully obvious that the neighborhood has become a hub for new development, but this report confirms it and shows that, unfortunately, there’s no signs of construction slowing down over the next couple of years.
This is all despite the fact that an official date was recently announced for the L train shutdown that will affect Northern Brooklyn, including Williamsburg and Bushwick.
So that’s your fast fact of the week, Bushwick! Have a question about the neighborhood that you want us to try and answer using data? Leave a comment below!
Cover image courtesy of 贝莉儿 NG