New growth in New York Metropolis’s outer boroughs fell right into a lull in 2025.
Elevated rates of interest and excessive land costs have made ground-up development more difficult to pencil out, and Brooklyn and Queens noticed scaled-back condominium filings in response.
The whole unit depend of the ten priciest developments declined 36 p.c this yr from 2024, from 980 to 628. Complete projected sellout of the highest 10 additionally declined 34 p.c yr over yr, from $1.4 billion to $918 million.
In Brooklyn, the itemizing stock for brand new growth condos within the third quarter declined yr over yr by almost 25 p.c, in accordance with a report from Douglas Elliman and Miller Samuel.
In Queens, the variety of closed gross sales on new growth condos declined by 55 p.c in the identical interval.
New Empire Corp’s 757 Flatbush Avenue took dwelling the highest spot on this yr’s listing. The end was an indication of the instances: the mission’s $136 million projected sellout would have are available fifth in 2024.
The neighborhoods dwelling to the largest condominium filings additionally shifted. Final yr’s listing was dominated by the fashionable neighborhoods of Williamsburg, Boerum Hill and Lengthy Island Metropolis, whereas the largest developments in 2025 have been located additional away from Manhattan, together with initiatives in Flatbush, Arverne, and Windsor Terrace.
757 Flatbush Avenue, Flatbush | New Empire Corp. | $136 million
New Empire nabbed essentially the most beneficial submitting within the two boroughs with its 757 Flatbush mission. At 132 items, the developer expects the eight-story mission to tug in $136.4 million at ultimate sellout. The mission will probably be anchored by a retail and industrial area.
The mission broke floor this summer season and nabbed a $9.2 million refinancing from Pacific Nationwide Financing this fall.
127 Kent Avenue, Williamsburg | Joyland Group and Prospect Builders II | $144 million
Joyland Group and Prospect Builders took the No. 2 spot with “The Sixth,” their 43-unit growth in Williamsburg close to the waterfront. The six-floor mission options two penthouse flooring.
Items haven’t been listed however Corcoran is promoting the mission. Joyland paid $43.3 million for the event website on the finish of 2024, PincusCo reported.
141 Seashore 67th Road, Arverne | Beechwood Houses | $110 million
The waterfront growth at 141 Seashore 67th Road is predicted to yield $110 million. The mission, referred to as Lighthouse, is one block from the ocean, on the Rockaways peninsula. The items begin within the mid-$500,000s, in accordance with the mission web site.
23 Ocean Parkway, Windsor Terrace | Aview Equities | $109 million
Aview Equities is planning a 99-unit growth the place Windsor Terrace meets Kensington, at Prospect Park’s southern edge. The mission expects to promote out at $109 million.
The event, which has an alternate tackle of 57 Caton Place, made headlines this summer season for allegedly disturbing horses on the Prospect Park stables. In 2023, Parkview Monetary filed a pre-foreclosure suit associated to a $66 million building mortgage it originated for the mission. The swimsuit was discontinued final yr.
110 Boerum Place, Cobble Hill | Avdoo Companions | $100 million
Avdoo Companions expects $100 million from its growth on Boerum Place, which can ship 21 residential items. Valley Nationwide Financial institution supplied a $47 million building mortgage this summer season. Preliminary costs will begin at about $3 million for a two-bedroom, in accordance with Metropolis Realty.
600 & 610 DeKalb Avenue, Bedford-Stuyvesant | Attract Group, Joel Landau | $99 million
The event at 600 DeKalb Avenue will ship 70 condos alongside 320 rental items, in accordance with New York YIMBY. Attract Group secured $155 million in building financing for the mission, on the western facet of Bedford-Stuyvesant, which is predicted to herald $99 million in gross sales.
2102 East 1st Road, Gravesend | Redhoek + Companions | $76 million
This Gravesend mission from Redhoek + Companions is slated for simply 12 items, however a $76 million sellout. Eight of the items within the ground-up growth, referred to as the Onyx Residences, will probably be duplexes with double-height areas, in accordance with the mission web site.
70-40 forty fifth Avenue, Elmhurst | Ching Lam and Jia Xin Chen | $63 million
The condominium constructing at 70-40 forty fifth Avenue is predicted to ship 93 residential items, for a complete sellout of $63 million. Sany Realty Group is itemizing the sponsor items, in accordance with StreetEasy. Sponsor items on the location begin at $558,000.
35-30 146th Road, Flushing | Cun Chen, Ming Chen | $57 million
With a projected sellout of $57 million, the event at 35-30 146th Road is planning to ship 44 one and two-bedroom residential items. PRO Hyperlinks Realty has taken over advertising and marketing and gross sales for the mission, referred to as 146 Northern. Costs begin at $528,000 for a one-bedroom, in accordance with the mission website. The constructing additionally accommodates 4 retail shops.
630 Grand Avenue, Crown Heights | The Loketch Group | $53 million
The Loketch Group has constructed a 32-unit condominium constructing on Grand Avenue, the place Crown Heights and Prospect Heights meet. Sponsor items begin at $789,000, with Corcoran liable for the listings. The highest penthouse is asking $2.8 million. PincusCo reported the builder obtained a $24 million building mortgage from iCross Capital for the event, the place the anticipated sellout is $53 million.
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