Very positive story in today’s New York Times about the benefits of the housing boom.
Interesting factoid – New York City has seen its real estate transfer tax go from $875 million in 2000 to $2.2 billion this past year.
Sure, the article’s a little one-sided, but it gives you plenty to talk about at your next cocktail party.
By Jennifer Steinhauer, New York Times
It may not replace the Empire State Building or the MetroCard, but the most fitting symbol of New York City today could be the knotty plywood wall enclosing a housing construction site.
A newly completed residential and professional building on 65th Street in Bensonhurst, Brooklyn, contrasts with the single-family homes on the block. Many building permits have been issued in the area since 2000.
New homes are rising at their fastest pace in New York City in more than 30 years. Housing going up in Bensonhurst, Brooklyn, surrounds the home of Giuseppe Sole on Fourth Street.
From Bensonhurst to Morrisania to Flushing, new homes are going up faster now than they have in more than 30 years. In 2004, the city approved the construction of 25,208 housing units, more than in any year since 1972, and that number is expected to be surpassed this year. Already, officials have authorized 15,870 permits.
Looked at another way, the city has 38 percent of the region’s population but accounts for half of its new housing starts. Much of that development is being fueled by private money, a phenomenon not seen since the 1970’s.
The mushrooming of housing development is an outgrowth of the city’s decade-long population boom, low interest rates, government programs and a slide in crime, housing experts and city officials say. It has affected every borough and most neighborhoods, reshaping their physical form, ethnic makeup and collective memories.
Back to Boston condos for sale homepage
Contact me to find out more about this property or to set up an appointment to see it.
SEARCH FOR CONDOS FOR SALE AND RENTALS
- Back Bay
- Beacon Hill
- Charlestown Navy Yard
- Dorchester Heights
- Jamaica Plain
- Leather District
- Seaport District
- South Boston
- South End
For more information please contact one of our on-call agents at 617-595-3712.
Back to homepage: Boston condos for sale
Condos around Boston to buy or rent
Condos around Boston to buy:
Back Bay area new condos for sale
Beacon Hill area new condos for sale
Charlestown area new condos for sale
Navy Yard Chalrestown area new condos for sale
Dorchester area new condos for sale
Fenway area new condos for sale
Jamaica Plain new condos for sale
Leather District new condso for sale
Midtown area new condos fro sale
Seaport District area new condos for sale
South Boston new condos for sale
South End new condos for sale
Waterfront new condos for sale
North End area new condos for sale
West End area new condso for sale
East Boston area new condos for sale
Condos around Boston to rent:
Back Bay area condos for rent
Beacon Hill area condos for rent
Charlestown area condos for rent
Navy Yard Charlestown area condos for rent
Dorchester area condos for rent
Fenway area condos for rent
Jamaica Plain area condos for rent
Leather District area condos for rent
Midtown area condos for rent
Seaport District area condos for rent
South Boston area condos for rent
South End area condos for rent
Waterfront area condos for rent
North End area condos for rent
West End area condos for rent
East Boston area condos for rent