REBNY undertakes projects to investigate current residential issues in NYC. Image Credit: REBNY

REBNY report shows that housing production, particularly affordable housing, is drastically lower in landmarked areas in the five boroughs. In 2013, the Real Estate Board of New York conducted a study which showed that nearly 28 percent of Manhattan is landmarked and that fewer than 2 percent of new housing units built in Manhattan over a ten-year time period (2003-2012) were constructed on landmarked properties. On July 1, 2014, REBNY released a new report which analyzed properties and new housing activity in the other four boroughs over the same time period. REBNY found that although there are not as many landmark designations as in Manhattan, the creation of housing and affordable housing is also “sharply curtailed on landmarked properties located in those boroughs.” (read more…)