How A New York Development Actually Gets Approved
Whether a project needs a discretionary approval determines its timeline more than its size does.

The single most consequential question about a proposed development in New York is whether it complies with existing zoning. Everything about the timeline follows from the answer.
As-of-right
A project conforming to the zoning for its site can generally proceed without discretionary approval. It still requires plan examination and permits from the Department of Buildings, and it must comply with the building code, but no public review body votes on whether it may happen.
This is why developers work so hard to design within existing rules. An as-of-right project is measured in months of permitting; a discretionary one is measured in years.
When discretion is required
A project needing a zoning change, a special permit, or certain other actions enters the Uniform Land Use Review Procedure. This is a defined sequence with time limits at each stage: review by the local community board, then the borough president, then the City Planning Commission, then the City Council.
The community board's role is advisory. Its influence is real but it does not hold a veto, which is a common misunderstanding on all sides.
Environmental review
Discretionary actions generally trigger environmental review, examining potential effects on traffic, shadows, historic resources, and neighbourhood character. It is a substantial technical exercise and a frequent subject of litigation, since a review found inadequate can undo an approval.
Landmarks
If a building is designated, or sits in a historic district, the Landmarks Preservation Commission must approve exterior work. This runs on its own track and applies whether or not zoning approvals are needed.
Why it takes as long as it does
The sequence is designed to be deliberative, and each stage has procedural requirements that create grounds for challenge if skipped. The result is a process where the timeline is dominated by procedure rather than construction.
For anyone reading about a proposed project, the useful question is which track it is on. It predicts the next several years better than anything in the renderings.