Post-Recession Apartment Boom Earns Long Island City Top Spot
Of all the apartment construction we witnessed in the past few years, 10 U.S. neighborhoods stand out for the greatest numbers of apartments built in the post- recession rental boom era . Using Yardi Matrix and Property Shark construction data , RENTCafé tallied up apartment completions that took place between 2010 and 2016 to see which neighborhoods saw the highest volumes of new rentals. Here they are: At the top of the list , Long Island City in Queens, New York City, has built a stunning 12,533 new apartments in 41 apartment buildings since 2010 , by far more than any other neighborhood in the U.S. Like many other New York neighborhoods, LIC slowly gentrified from a former heavily- industrial neighborhood filled with warehouse-type buildings to a highly- desirable residential area gleaming with new residential high -rises and conversions. Just a 15- minute train ride to Midtown Manhattan and much more affordable in terms of housing costs, Long Island City ’s apartment marke...