Amazon left current and future business owners in a state of panic after announcing their commitment to build HQ2 in Long Island City and their subsequent withdrawal. In fact, one Long Island City restaurant owner flew to Seattle yesterday, demanding his voice be heard. Yet real estate isn’t experiencing the drop in interest that may have been anticipated. StreetEasy reported that online searches for LIC properties rose 152% after the announcement, and local brokers say they haven’t had anyone try to back out of deals and are in fact receiving more inquiries.
Industry insiders speculate that Amazon drew attention to the growing Queens neighborhood, yet many may have shied away from pursuing a purchase or lease for fear of Amazon driving up prices. Now that the neighborhood won’t be experiencing a spike of 25,000 employees, New Yorkers may be seeing that as a plus. They can take advantage of the growing number of amenities LIC has to offer without the prices or the headaches associated with an incoming HQ2.
Photo Credit: King of Hearts