Scotsman Guide – NYC apartment market can handle Amazon move

Reis in the News

By Victor Whitman
Source: Scotsman Guide – NYC apartment market can handle Amazon move

Amazon’s move to Queens shouldn’t drive up apartment rents too much in New York City, according to Reis Inc.

Queens and surrounding New York City boroughs should be able to absorb the move, thanks to lots of recent apartment building and an expected surge in starts, according to the data analytics firm.

Amazon, the online retail giant based in Seattle, riled neighborhood activists and politicians in the city after announcing in November that it would locate one of its new headquarters on the East River waterfront in Queens. Among the concerns was that it would cause rents to skyrocket.

“The impact may not be as severe as so many fear,” according to Reis.

 

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