Landmarking limits new-home construction in Manhattan

Nearly 1 in 3 properties in Manhattan is landmarked and “the door is slowly shutting” on areas where housing, particularly affordable housing, can be built, according to a study from the Real Estate Board of New York.

Between 2003 and 2012, only 1.9 percent of new residential units were constructed in landmarked properties. That share includes a mere five units of affordable housing built during that 10-year period.

Source: REBNY