Report: Lower East Side is One of the City’s Fastest Developing Neighborhoods

Posted on: October 30th, 2018 at 5:04 am by

It’s boom time for New York City.

In the next two years, approximately 31,000 new apartment units are expected to hit the pipeline. More than half will be concentrated in neighborhoods across Brooklyn and Queens, according to data compiled by aggregator Localize.city.

The recent report lists the city’s ten fastest developing neighborhoods ranked by number of units completed by 2020. Long Island City tops the list.

As it happens, the Lower East Side is the only Manhattan neighborhood to appear in the top ten. One need only walk the waterfront (One Manhattan Square, and potentially 3 more) or Broome Street from Ludlow to Clinton (Essex Crossing) to see why.

Appearance on this list is proof positive that the neighborhood is completely overrun. And will likely spur further displacement, both direct and indirect.

Photo: Localize.city

[h/t Wall Street Journal]

Recent Stories

Is ‘Moishe’s Bake Shop’ on 2nd Avenue Cooked?

It might be time to sound the alarm for Moishe’s Bake Shop. The Real Deal reported yesterday that investor Jay Schwimmer recently signed a 21-year lease on the entire building at 115 Second Avenue. For all three floors, in fact, including Moishe’s Bake Shop. Occupancy could begin as soon as March, the lease start date. […]

Losers Lounge Celebrates 25th Anniversary

When it comes to music, we all have our guilty pleasures. Some satiate this within the safe confines of headphones, while others sing unabashedly with the windows down at a stoplight. There’s yet another component when you’re an actual musician and you have songs you like to belt out with reckless abandon. That being said, […]

WeWork Founder Brings ‘Selina’ Hotel Project to the Bowery

Finally complete after years of construction, 138 Bowery is ready for the big-time, and with an identity to boot. Backed by WeWork founder Adam Neumann, Selina is a multipurpose hospitality endeavor that marries co-working options with hotel rooms, retail, and food offerings. The lodge features 90 keys designed in collaboration with local artists and designers, […]

The Tower at MOSCOT’s Old Orchard Street HQ is Now Above Ground

Six years after MOSCOT moved across the street, the multimillion-dollar cause of its ousting is slowly ascending. We’re talking, of course, about the twelve-story tower currently under construction at the northeast corner of Orchard and Delancey Streets. Foundation and underpinning work recently wrapped, and the superstructure skeleton is now poking above the plywood. Sitting at […]

Community Board Application Process Now Underway

It’s the most wonderful time of the year – Manhattan Community Board membership applications are now open for submission! The oft-polarizing (volunteer) political machine for the proverbial people of New York is looking for “passionate and engaged New Yorkers who are dedicated to making a difference in their neighborhoods.” Go get ’em. To be considered […]