M
ultifamily housing units have seen significant growth over the past two decades, increasing by 54% from 2005 to 2023. However, this growth is overshadowed by the overall housing stock, which consists mainly of single-family homes. Middle housing, including duplexes and small apartment buildings, has lagged behind with only an 11% increase in the same period.

    The slow growth of middle housing can be attributed to local zoning regulations and opposition from existing homeowners. In Queens, a proposed zoning reform aimed at increasing density was met with resistance from those who feared it would alter their community's character. The formation of a bipartisan Yimby Caucus in Congress may bring renewed attention to the issue.

    Property managers and superintendents are grappling with new rules for trash and recycling disposal set by the Sanitation Department. Meanwhile, Alicia Glen, former deputy mayor for housing, suggests that increasing overall housing production could help alleviate the city's affordability crisis, even if it means building more unregulated units. This approach has been met with skepticism from some advocates who prioritize affordable housing.

    New York City is also updating its electrical code for the first time since 2011. The updated code will allow non-licensed individuals to perform low-voltage work and sets a deadline for electric vehicle charging infrastructure installation in small garages and parking lots.

    Residential sales continue to be a significant part of the city's real estate market, with a $20.5 million townhouse sale in the West Village being one of the priciest deals this week. Commercial sales also saw a notable transaction, with Savanna purchasing an 178,000-square-foot office building in Greenwich Village for $255 million.