Amazon HQ2

Here Comes Amazon HQ2-Inspired Real Estate Prospectors

 

Dutch Kills, connected to the Newtown Creek Superfund site is the next “It Zone” (MTA)

Amazon’s plan to build half of its HQ2 at Anabel Basin in Long Island City,  just a brisk walk from Greenpoint over the Pulaski Bridge, is proving to be a Rorschch test. The homeownership rate in Brooklyn is around 30 percent, leaving the majority of residents in the area feeling the stress of a potential for increased rent, similar to Seatle where rent has risen 39.8 percent over the past fives years.

On the other hand, real estate speculators are salivating at the HQ2 news and see an opportunity for a quick return on investment; online searches for LIC real estate have jumped 300 percent since the HQ2 announcement less than a week ago.

To “help capitalize on local growth,” NYC-based Compound Asset Management, Inc. has launched an “NYC HQ2 Fund” offering an investment opportunity with a “diversified portfolio of properties in neighborhoods such as Sunnyside, Woodside, Astoria, Greenpoint, Maspeth, and Long Island City itself.”

Yes, the speculators are coming (in even greater numbers) and are setting their fiesty eyes on the few neighborhoods with remaining charm in NYC. The highest accolades, according to Compound, are reserved for Dutch Kills, the next “It Zone,” a small waterway where raw sewage often overflows connected to the Newtown Creek Superfund. Compound cites in the fact that four luxury buildings are going up at Dutch Kills already. Continue reading

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Amazon HQ2 Is Coming to Long Island City

Amazon’s HQ 2 is coming to LIC.

After over 200 U.S. city governments vetted the world’s richest man, Amazon’s Jeff Bezos, to plop his tech goliath’s HQ2 in their territory, Bezos picks Long Island City, Queens and Crystal City, Virginia as the two “winners.”

His Excellency, Andrew ‘Amazon’ Cuomo is offering state subsidies to the tune of $1.5 billion to gain what is promised to be 25,000 new jobs paying $150,000 per year on average.

Mayor Bill de Blasio, now in his lame duck era, has been cheerleading the Amazon search since last year, coming full circle from his days as NYC public advocate when he led the effort to keep Wal-Mart’s attempted NYC expansion at bay. Continue reading

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Amazon Eyes Long Island City For HQ2

LIC waterfront with new development (courtesy of Joe Mabel)

New York Governor Andrew Cuomo has been intensely lobbying Amazon to locate its HQ2 in Long Island City. Gov. Cuomo jokingly offered to rename Newtown Creek ‘Amazon Creek’ on the condition that the corporate giant agreed to choose LIC. He even humorously offered to change his name to ‘Amazon Cuomo’ to entice the corporate giant to choose Long Island City.

It seems that Cuomo’s intense lobbying may have borne fruit, according to a Monday report in the New York Times. The Times reports that Amazon has decided not to create one mega headquarters, but to divide the new headquarters in two. One of those locations, according to the article is in LIC. The other location Amazon has chosen is Crystal City, Virginia, in the greater Washington D.C. Area. The Times, however, did strike a cautionary note, though, stating that the company has made no final decision. Continue reading

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