Long Island City Leads Residential Construction With 8,000 Units

It’s no surprise New York City’s is continuously building more commercial and residential buildings, leaving the city with more construction sites and scaffolding than any other city in the United States.

However, with only 2.6 percent of New York residences currently empty, the city has no choice but to continue to build and create space for newcomers.

The amount of units under construction, according to CoStar Group Inc., a real estate data provider, is about 60,000-more than double the amount in Washington, D.C., (29,075 units) and Los Angeles (28,270 units).

But, of all the sub-markets in NYC, Long Island City has the most units under construction, helping Queens surpass the other boroughs.

With 8,000 units, LIC has seen an uptick in demand due to its easy access to Midtown and Hudson Yards, the report noted.

It’s also the neighborhood in New York City where an increasing number of big-name companies have chosen to set up shop, including online grocer FreshDirect Inc. and airline JetBlue Airways Corp.

Additionally, Uber and Lyft are both in LIC’s Falchi Building.