NYC 99-Unit Apartment Buildings
Sector: Residential • Location: New York City, New York, USA
Source: Bloomberg
Due to a new tax program (485-x) in New York City that requires higher worker wages for buildings with 100 or more apartments, real-estate developers are constructing buildings with exactly 99 units to avoid the wage mandate. This has led to a surge in permits for 99-unit buildings, more than doubling the total from the previous 16 years combined. The program aims to encourage affordable housing b
- Status
- Under Construction
- Sector
- Residential, Commercial
- Location
- New York City, New York, United States of America
- Updated
- 22 Jul 2026
- Source
- Bloomberg
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Project Information
Participants
| Not available for this record. |
Status
Original status | planned/under development |
Taiyo status | Under Construction |
Taiyo last update | 2026-07-22 |
Contact
| Not available for this record. |
Description
Description | Due to a new tax program (485-x) in New York City that requires higher worker wages for buildings with 100 or more apartments, real-estate developers are constructing buildings with exactly 99 units to avoid the wage mandate. This has led to a surge in permits for 99-unit buildings, more than doubling the total from the previous 16 years combined. The program aims to encourage affordable housing but has the unintended consequence of slowing down housing production and increasing costs. |
Original sector | Built Sector |
Location
Country | United States of America (USA) |
State | New York |
City | New York City |
Source
Source | Bloomberg |
URL |
More Details
Record type | Project |
Sector | Residential, Commercial |
Article published date | 2025-09-16 |
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