New York City has one of the largest populations in the United States. Although the city has experienced a slight population decline since COVID, around 8.3 million people still reside here and more than two-thirds of this population are renters. As a result, the NYC rental market is as fast-paced as ever, and rental prices are at an all-time high due to the overall demand for housing and the drop in the supply of new apartments in NYC.
Housing development in NYC has slowed down significantly in recent years due to several factors such as building costs, the expiration of the 421a tax abatement program in June of 2022, zoning regulations, and more. The number of housing units permitted by new building permits declined sharply to 16,348 in 2023, the lowest it has been since 2016. However, there are still many great new developments on the docket for 2024 and we’re here to discuss these new apartments in NYC!
New Apartment in NYC
Housing demand in the outer boroughs is increasing as more and more renters are priced out of Manhattan. In 2023, the Bronx surprised everyone and surpassed all the other boroughs in the number of new housing completions. This borough alone accounted for 35% of new housing completions, surpassing Brooklyn for the first time in years as the borough leading the city in housing growth. However, Brooklyn is still number one when it comes to the number of newly issued housing permits for 2023. At 32%, Brooklyn ranks above Bronx (29%), Queens (23%), Manhattan (12%), and Staten Island (3%).
Here are some of our favorite new apartment constructions in New York City.
New Apartment in Brooklyn
The MC (1100 Myrtle Avenue, Brooklyn, New York, 11206)
Newly built in 2024, this new apartment in Brooklyn, NYC started leasing its units to the public earlier this summer. The building’s name, MC, stands for the number 1100 in Roman numerals and represents the opportunity for many new possibilities. Indeed, this new construction is located right by many hip and trendy restaurants such as Formosa and Winona’s, fun nightlife such as parties at the House of Yes, and more.
Tenants of the MC can take advantage of the many amenities a co-working library lounge, a media and movie lounge, a gaming and billiards lounge, and indoor parking with electric vehicle charging stations. Those who like to work out can either sign up for memberships at any of the local fitness centers nearby (such as Planet Fitness or Blink) or enjoy the building’s state-of-the-art fitness center. Those with pets will be comforted to know that they will be as well taken care of as you are with access to a private dog run and pet washing station. Finally, take advantage of the rest of summer and enjoy some fresh air on the MC’s 2nd-floor amenity terrace or the roof deck with lounging, sunbathing, BBQs, and more.
For those who need to commute, the building is conveniently located right down the block from the Myrtle Av train station, serviced by the J, M, and Z lines.
New Apartment in the Bronx
One38 (138 Bruckner Blvd, Bronx, New York, 10454)
Conveniently located a few blocks away from the 6 train at Brook Av station, One38 is Mott Haven’s newest addition to the Bronx. Located 20 minutes from Midtown, Manhattan, Mott Haven has everything that one would need to relax after a long day in the office. Stop by the Mertz Library to borrow a quick book, then head on by to any of the local parks nearby for some light reading. Alternatively, hit up the Hudson Smoke House for some of their delicious brisket, then close out the day with some free pool and $9 classic cocktails at the Bar at 47 Bruckner.
If this sounds like the idyllic lifestyle for you then you’ll be even more surprised by the amenities offered to you by One38. Building amenities include an incredible wellness center that comes with a heated Olympic-sized swimming pool, fitness center, sauna & steam room, basketball court, and yoga room. Looking for some summer fun? Enjoy the rooftop tennis and pickleball courts, alongside BBQ grills and sunbathing cabanas. Alternatively, check out the expansive courtyard which comes with its own private dog run, a children’s park, fire deck pits, and more. This is a building that you won’t want to miss out on. Units at this new apartment in the Bronx, NYC started leasing in late Spring through the leasing team at Nooklyn.
New Apartment in Queens
The Monarch (92-29 Guy R Brewer Boulevard, Queens, New York, 11433)
The Monarch is the latest new development in the up-and-coming neighborhood of Jamaica Queens. Located near the E, J, and Z lines, this building is easily commutable for those who work in Manhattan. Enjoy the many beautiful parks nearby, such as Captain Tilly Park, and Rufus King Park, or attend some events at the Jamaica Performing Arts Center to enrich yourself. You simply can’t go wrong.
In addition to all the wonderful activities at their fingertips in Jamaica, residents can also enjoy some spectacular building amenities. Commuters who bike or drive have direct access to parking and bike storage, adding to the convenience of the building. Looking to work on your summer beach body? Check out the fitness center that includes a basketball court, pickleball court, cardio and yoga room, or for something more chill, a golf simulator. Alternatively, you can work on your nice tan on the rooftop deck or terrace. For those with family members such as children or pet dogs, enjoy the children’s playroom, media room, and/or the dog run. Units at the Monarch just started leasing on July 18th and are filling up quickly! Don’t miss out.
New Apartment in Manhattan
The Duchess (300 East 83rd Street, Manhattan, New York, 10028)
Opening up on 8/15/24, the Duchess will be one of the newest additions to the Upper East Side. Located on East 83rd Street and 2nd Avenue, the building is right off of the Q train station. With the MET to the west and Carl Schurz Park to the east, this is a prime location for lovers of the fine arts, people who love to run on the East River shoreline, and folks with dogs (did we mention that Carl Schurz has a great dog run?)! Residents who live here will not run out of things to do, for there is no shortage of restaurants, bars, cafes, and shopping opportunities around.
As the building states, “No detail has been overlooked in the design of The Duchess.” That much is true when you review the endless amenities that the building has to offer its residents. From the 24/7 attended lobby, and furnished roof terrace, to the state-of-the-art fitness center, the Duchess has it all.
Units here are even more extraordinary. These new apartments in Upper East Side, NYC are decked out with individual central air conditioning units, Sub-Zero and Bosch appliances, in-unit washers and dryers, Calacatta white stone countertops, hardwood and stone floor throughout, and oversized windows with installed window shades. Residents won’t even need to carry their keys around, as each unit is equipped with a keyless entry system.
New Apartment in Staten Island
Lighthouse Point (5 Bay Street, Staten Island, New York, 10301)
Coming soon to St. George, Staten Island, this 115-unit rental apartment complex has yet to launch leasing. This new apartment construction is located directly on New York Harbor next to the iconic Staten Island Ferry, making it easy for commuters to go back and forth between the Financial District, Manhattan and St. George, Staten Island. Besides ease of access for commuters, the apartment complex is also conveniently located right next to a USPS, Empire Outlets shopping center, and the North Shore Waterfront Esplanade Park. For those with children, there is a The Learning Experience daycare located right downstairs in the same building, adding to the convenience of the residential experience.
Future residents of this new apartment in Staten Island, NYC can look forward to beautiful scenic views of the New York Harbor. Whether it’s the Manhattan skyline or a picturesque view of the Verrazano-Narrows Bridge, these views simply can’t be beat. Individual units come equipped with in-unit washer and dryer setups, and stainless steel appliances, and some units will come with private balconies or terraces. Noteworthy building amenities include a fitness center, residents’ only landscaped waterfront pier overlooking downtown Manhattan, and easy access to a public park, pier, and esplanade. This is a living experience you won’t want to miss out on.
