NYC Construction Market Report
A one-page briefing on New York City's construction market — total filed spend, who's building where, the largest active projects, and how the city compares to national industry trends. Built for readers who want the headline numbers without digging through individual pages; every figure links back to its live source.
Filed Value, 2026 YTD
$3.93B
9,038 filings
Leading Borough
Manhattan
$1.60B · 41% of total
Busiest Contractor
Structure Tone Inc
23,478 permits
Residential Share
43%
of 2026 permits issued
Key Signals
- →Manhattan leads all boroughs in filed construction value this year at $1.60B — 41% of the citywide total. See the full borough breakdown →
- →Structure Tone Inc is the busiest permit-puller citywide with 23,478 permits on file. See all ranked contractors →
- →The highest filed-cost project this year is 1 East 70 Street, Manhattan at $179.7M. See the largest active projects citywide →
- →U.S. total construction spending is running at roughly $2.18T seasonally-adjusted annual rate — see national context below.
Largest Active Projects
Full list →- 11 East 70 Street, Manhattan$179.7M
- 22 Penn Plaza, Manhattan$160.0M
- 3301 Park Avenue, Manhattan$150.0M
- 4537 East 71 Street, Manhattan$144.0M
- 51 Madison Avenue, Manhattan$128.2M
Busiest Contractors
Full ranking →- 1
Structure Tone Inc23,478 permits
- 2Rockledge Scaffold15,126 permits
- 3Everest Scaffolding Inc14,712 permits
- 4
Spring Scaffolding Llc11,151 permits
- 5Par Plumbing Co., Inc11,069 permits
National Industry Context
U.S. total construction spending, seasonally-adjusted annual rate, 2013–2026 — source: U.S. Census Bureau, via Federal Reserve Bank of St. Louis (FRED), series TTLCONS, fetched 2026-08-10.
Turner Building Cost Index
Q2 2026 · +5.15% YoY
1552
What the Trade Press Is Saying
Curated Aug 13, 2026All News →- The Real Deal
Vornado, Citadel's 350 Park lands record financing
Vornado Realty Trust, Ken Griffin's Citadel, and Rudin Management lined up construction financing for the planned 350 Park Avenue office tower, with Citadel pre-leasing over 1 million square feet as anchor tenant.
$3.3 billion construction loan — reported as the largest single-building construction loan in NYC history
The Real DealThe Real Deal · Aug 5, 2026 ↗
- The Real Deal
Domain scores $175M in financing for 429-unit Astoria project
Domain Companies secured construction financing from Wells Fargo for Elara, a two-building mixed-income rental development in Astoria, Queens, including over 100 affordable units.
$175 million construction loan for 429 units (107 affordable)
The Real DealThe Real Deal · Aug 12, 2026 ↗
- Commercial Observer
The window for seizing on New York's Class B and C office rebound is closing
A Commercial Observer column argues NYC's Class B/C office segment has bottomed, pointing to millions of square feet of obsolete office inventory being removed via conversions and 80+ Manhattan buildings pursuing them.
~26 million sq ft of office inventory being removed via conversions; 80+ Manhattan buildings pursuing conversion
Commercial ObserverCommercial Observer · May 27, 2026 ↗
- Commercial Observer
Manhattan office leasing starts 2026 strongly amid shrinking Class A inventory
Manhattan office leasing in Q1 2026 held near record pace as tenants increasingly pushed into Class A-minus and Class B space amid tightening premium inventory, headlined by Bank of America's expansion at One Bryant Park.
Manhattan office availability: 14.6% (Q1 2026) vs. 17.3% (Q1 2025), per Avison Young
Commercial ObserverCommercial Observer · Apr 1, 2026 ↗
- Commercial Observer
NYC developers file plans for 21M sq ft of new construction in Q1
A REBNY analysis found a sharp jump in new-building filings with DOB in Q1 2026, driven heavily by multifamily projects tied to City of Yes zoning reforms — even as citywide multifamily starts remained below their 2022 peak.
577 new building filings totaling 21.2 million sq ft in Q1 2026, up 74% year-over-year
Commercial ObserverCommercial Observer · May 22, 2026 ↗
- Construction Dive
Crews stabilizing Manhattan building after column buckling, engineer says top floors likely crooked
Structural columns buckled on the 21st floor of the former Pfizer headquarters office-to-residential conversion, causing floor sagging and an emergency evacuation — the latest in a string of prior safety incidents at the site.
1.3 million sq ft building targeting 1,600 apartments, expected completion 2027
Construction DiveConstruction Dive · Jul 8, 2026 ↗
Hand-curated from ENR, Crain's New York Business, The Real Deal, Commercial Observer, and Construction Dive — refreshed roughly every week or two, not live city data. Each headline links to the original reporting.
Frequently Asked
- How much construction has NYC filed in 2026?
- $3.93B in total filed construction value across 9,038 DOB job filings citywide, year-to-date as of this report — the applicant's own filed estimate on each job, not an audited total.
- Which NYC borough has the most construction activity by filed value?
- Manhattan, at $1.60B in filed value (41% of the citywide total) across 2,089 job filings this year.
- Who is the busiest general contractor in NYC by permit volume?
- Structure Tone Inc, with 23,478 DOB permits on file — ranked by permit volume, the only company-level activity metric NYC's public data supports (not revenue or safety).
- What is NYC's largest active construction project by filed cost right now?
- 1 East 70 Street in Manhattan, filed at $179.7M. DOB's filed "initial cost" field is a permit-fee basis, so even genuine billion-dollar towers typically file well under $1B here — see Mega Projects for the full list and why.
- Is national construction spending rising or falling?
- U.S. total construction spending is running at a seasonally-adjusted annual rate of roughly $2.18T as of the latest available data (2026), per the U.S. Census Bureau — up from roughly $912B in 2013.
This report synthesizes figures already published individually elsewhere on the site — the Spend Dashboard (citywide filed value, borough and residential splits), Companies (contractor ranking), Mega Projects (largest active filings), and Our Technology's industry-data section (national spending, Turner Cost Index) — into one page. Every NYC figure is queried live from the city's own records on each visit; the two national figures (Census construction spending, Turner Cost Index) are refreshed manually since neither publisher offers a live browser-fetchable feed — see Data & Sources for full citation detail on every number here.