New York area’s future construction contracts fall 15%
The value of contracts for future construction in the metropolitan area fell 15 percent in December compared with a year earlier as residential activity dropped.
Dodge Data & Analytics, an industry information service, reported Thursday that contracts worth $3.6 billion for future building were awarded last month for a 23-county region centered on New York City that includes Long Island. That’s a decline from December 2015, when new building contracts totaled $4.2 billion.
Residential contracts totaled $1.7 billion, down 42 percent year over year.
Nonresidential contracts for commercial properties such as offices, hotels, factories and warehouses rose 48 percent to $1.8 billion.
Get ready for sun and fun with NewsdayTV's summer FunBook special! From celebrating America's 250th birthday to a new ride at Adventureland, NewsdayTV's Elisa DiStefano and Newsday lifestyle editor Meghan Giannotta have your inside look at Newsday's summer FunBook.
Get ready for sun and fun with NewsdayTV's summer FunBook special! From celebrating America's 250th birthday to a new ride at Adventureland, NewsdayTV's Elisa DiStefano and Newsday lifestyle editor Meghan Giannotta have your inside look at Newsday's summer FunBook.
