Manhattan Monthly Commercial Building Permits Update

Manhattan Monthly Commercial Building Permits are below 1990 levels.

It appears that tenants move out and new ones do not move in so no new repairs or upgrades being made.

Looking at details from 2010 to 2019, monthly permits varied but centered around 3500 per month. Early in the pandemic, there was a dramatic shift down, but then the beginning of a recovery in late 2020. Since then permits have been falling off, reaching 430 commercial building permits (non-residential, not 1–3 family properties) in January 2022.

A full data visualization in Tableau public is available here:

https://public.tableau.com/app/profile/paul.mangione/viz/NYC-DOB-permits/Table2011-2022-January

Paul Mangione
Fort Schuyler Advisors
www.ftschuyler.com