With Or Without Amazon…Long Island City Real Estate Will Be Ok
Any real estate agent in the city of New York will have sharp words to say for Amazon’s changed plans of bringing their 2nd headquarters to that locale. Official at Warburg Realty Partnership, Jason Haber mentioned this to be the largest unforced mistake happening in the city since the time when Dodgers let Brooklyn. This mistake is in fact equivalent to one that had happened 50 years down the line. However, one hopeful fact is that the real estate market of Long Island City region in Queens has a good future. Haber said that Amazon had considered few basic fundamentals before choosing that place for the set up and those are still constant.
3 regional buyers and 9 regional real estate agents said that there would hardly be any impact on Long Island City if Amazon left. However, politicians have been accusing each other for the hassle regarding the deal which finally leads to the loss of approximately 25000 jobs that Amazon had promised to provide. Real estate agents have not been freaking out because they have gone through the fine print sent by Amazon. It said that there is time for Amazon to decide on what to do prior to the breaking ground.
A regional real estate agent, Patrick W. Smith said that after knowing the exact scenario, one would have to advise the clients that the deal is not the final one. However, the announcement did not stop possible buyers from grabbing properties in a rush. When Amazon was deciding on making the move, about 147 contracts were signed. Compared to the week in the previous year, only 57 deals were made.
Amazon employees also joined the mad rush of buying properties in that area, sometime purchasing two houses long before the official declaration was done by Amazon. Experts have said that prices would continue to increase.