New York City’s real estate and construction industries could lose “billions” over the next few quarters if construction sites are shut down due to the COVID-19 aka the Coronavirus.
As of 3/23/2020 the state of New York via the Governors Office has exempted construction services from a new work-from-home mandate. To keep projects going across the city, the New York City Department of Buildings is taking precautions for its workers while building projects continue as business usual.
This all being said, in this ever changing environment things can soon change. Please keep yourself updated by visiting local, state, and federal government websites.
03/31/2020 - Update
Empire State Development will temporarily suspend a range of commercial & residential construction projects., Some work deemed necessary such as hospitals, infrastructure projects, affordable housing and homeless shelters are to continue.
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