Downtown Brooklyn is experiencing a significant increase in housing development, with projections indicating a record number of new residential units this year. A report from the Downtown Brooklyn Partnership’s real estate team highlights that more than 3,700 units were completed in the first half of 2025, and an additional 1,183 are expected to be finished before the year ends. This surpasses the previous record of 2,925 units set in 2022.
Between April and June alone, 3,334 units were completed, including 1,048 affordable apartments. Since the neighborhood was rezoned in 2004 to promote office space, academic expansion, and residential growth, affordable units have made up about 12 percent of the total 26,853 constructed.
Regina Myer, president of the Downtown Brooklyn Partnership, commented on these changes: “This is the constant evolution of Downtown Brooklyn,” she said. “It’s an incredible trajectory.”
Myer also pointed out that this trend is likely to continue due to citywide initiatives such as City of Yes for Housing Opportunity. The rezoning plan led by Mayor Eric Adams aims to add approximately 82,000 new housing units across New York City over the next fifteen years.
A separate analysis by The Real Deal found that between June 2024 and June 2025 Downtown Brooklyn led all city neighborhoods for new housing permits filed with the New York City Department of Buildings.
The latest report lists twelve projects set to start construction soon. These will bring an additional 2,246 housing units—437 designated as affordable—and about 73,100 square feet of retail space. There are another twenty-five projects planned for future years that could add at least another 4,412 housing units with nearly one-quarter classified as affordable.
One notable development is at 395 Flatbush Avenue Extension where rezoning would allow for a residential tower totaling roughly 1.5 million square feet and containing up to 1,263 apartments; between 253 and 379 are slated as affordable options.
Despite strong momentum in residential building activity in Downtown Brooklyn, recent reports show office leasing volume remains low due to excess supply built up over two decades outpacing current demand.
