The value of contracts for future construction in the metropolitan area increased by 11 percent in November compared with a year ago, as nonresidential activity rose.
Dodge Data & Analytics, an industry information service, reported last week that contracts worth $2.5 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 modest gain over November 2015, when new building contracts totaled $2.3 billion.
Nonresidential contracts, for commercial properties such as offices, hotels, factories and warehouses, totaled $1.4 billion, up 71 percent year over year.
Residential contracts fell 22 percent to $1.2 billion.