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Brooklyn Building Permits Rise Again

New York

2014 marked the fifth consecutive year that the number of residential units authorized by the NYC Department of Buildings increased, with a total of 20,329 units authorized in 1,513 buildings. This is an 11% increase from 2013 and an 84% increase from 2012. 37% of those units were in Brooklyn, giving it the highest number of permitted units for the third consecutive year, Real Estate Weekly reports. These numbers are still below 2005 to 2008, when the DOB issued permits for more than 30,000 units a year. Kings County also had four of the city's top 20 project starts, three in Downtown Brooklyn and one in Williamsburg. Meanwhile, Manhattan had 14 of the top 20 new residential projects, including the Jean Nouvel-designed MoMA Tower at 53 W 53rd St and Extell's Nordstrom Tower on W 57th St. [REW]