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A December to forget: Multifamily projects slow to a trickle

Five hundred ninety down, 499,410 to go. In December, when Mayor Eric Adams announced a goal of 500,000 new homes citywide over a decade, developers filed to build just 590 apartments. The measly total, compiled by the Real Estate Board of New York, shows just how challenging reaching Adams' target will be. The year finished on a down note for builders as the number of new apartments planned plunged 90 percent from 4,945 in December
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