Downtown Brooklyn is on track for a record-breaking year in housing development.
According to a new report from the Downtown Brooklyn Partnership’s real estate team, the neighborhood is slated for its highest number of new units yet, Crain’s New York Business reported.
During the first six months of the year, Downtown Brooklyn saw more than 3,700 units completed, with another 1,183 set to be finished before the end of 2025. This breaks the area’s previous record of 2,925 units completed in 2022.
Of those units, 3,334 were finished between April and the end of June, with 1,048 designated as affordable. Those units make up 12 percent of the 26,853 units built since the neighborhood was rezoned in 2004 to spur office construction, expand academic facilities and add residential and retail projects.
“This is the constant evolution of Downtown Brooklyn,” Regina Myer, president of the Downtown Brooklyn Partnership, told the publication. “It’s an incredible trajectory.”
This evolution will likely stay on an upward trajectory, Myer said. The recent passage of City of Yes for Housing Opportunity, Mayor Eric Adams’ rezoning initiative, is expected to add 82,000 new housing units to the city over the next 15 years.
In fact, a TRD analysis of new building permits filed with the New York City Department of Buildings between June 2024 and 2025 found that Downtown Brooklyn tops the city for new units in the pipeline.
The report outlines 12 projects set to begin construction, bringing 2,246 housing units — 437 of them affordable — along with 73,100 square feet of retail. Another 25 projects are in the works for the coming year and beyond, adding at least 4,412 more housing units, including 1,098 affordable.
Among those projects is the recently announced rezoning of 395 Flatbush Avenue Extension, which would pave the way for a 1.5-million-square-foot residential tower with 1,263 apartments; 253 to 379 of them will be affordable.
While housing in the neighborhood is going strong, a recent report found that office leasing volume is flagging as the demand for office space is still catching up to the oversupply built in the last 20 years.
– Quinn Waller
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