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Key thing to watch here is how much of the store AG and BdeB give away in return for luring Amazon.
Jeff Bezos isn't an egit; his company even with recent stock reversals has more money than God, and thus doesn't need huge financial incentives to move anywhere. Yet, for past several months Amazon has made governors and other local politicians jump through hoops/kiss their behind.
Historically these tax breaks doled out by New York work out well for the company in question, average taxpayer OTOH not so much.
Am going to say this once, so everyone listen; Amazon was never going to locate their second headquarters in some Podunk flyover town. Talent won't go to such places, nor would they be able to recruit the numbers required. Maybe filling the place with HB-1 visa holders..... but even they want west or east coast.
Virginia BTW is far from "Podunk", anyone who has been out to the Beltway knows this, and Amazon is wise to put themselves near Washington, D.C. and quite frankly an area loaded with defense and other government spending.
why do people think Brookly will get much benefit? It does not have direct transit link to LIC except the G train. Also, the price in Brookly is already very high. People will simply search for value in Jackson Heights, Corona, etc. Most of the benefits will be felt along the 7 line, which connects LIC, GC, and another big CBD Hudson yards.
Yes the (BK) neighborhoods along the G would likely change the most becase of the direct train access but keep in mind that many people don’t have a direct “one train” commute to their jobs. They live in neighborhoods that are most suited to their lifestyles with a consideration for their commute as a factor. The A/C trains connect to the G as does the L and the LIRR is in downtown BK too so don’t forget those as options. Also consider a lot of employees will be married or in partnerships so their partner’s commute will also be a factor.
I still maintain that any neighborhood within a 30 minute commute window, even with a transfer, will change the most with the more appealing ones being the direct lines to LIC.
Quote:
Originally Posted by Wakanda18
10 units out of 100 being affordable for tax breaks isn’t a win win.
Most people know affordable housing is a scam. This is why many communities are fighting rezoning. Flushing is a done cause however, it’s been taken over by the Asians.
And that plays into Amazon choosing LIC, Queens is very diverse and feels comfortable for the people that usually are in the tech industry (Asians and whites).
Good point about LIC/Queens and the Asian population. Didn’t think about that but yes, that makes a lot of sense.
Yes the (BK) neighborhoods along the G would likely change the most becase of the direct train access but keep in mind that many people don’t have a direct “one train” commute to their jobs. They live in neighborhoods that are most suited to their lifestyles with a consideration for their commute as a factor. The A/C trains connect to the G as does the L and the LIRR is in downtown BK too so don’t forget those as options. Also consider a lot of employees will be married or in partnerships so their partner’s commute will also be a factor.
I still maintain that any neighborhood within a 30 minute commute window, even with a transfer, will change the most with the more appealing ones being the direct lines to LIC.
Good point about LIC/Queens and the Asian population. Didn’t think about that but yes, that makes a lot of sense.
So you all are saying Amazon factored in local Asian (and or white) population into this whole HQ2 decision? And you all call me racist. *shm*
Would Midtown companies move their offices to Queens ?
Outside of Citibank don't think any other major company with offices in Mid-town relocated all or part to LIC. Could be wrong and would have to look it up...
Again city has been trying for years to make LIC happen, it was supposed to be the cure for companies back the 1980's and 1990's relocating to NJ, Conn or wherever. It didn't work out that way.....
In fact many companies that moved to NJ or wherever often moved right back to the city by the 2000's.
LIC, Newark and other areas are fine for back office; but prime employees don't want to work out there, but prefer mid-town or now "Far West Side", Chelsea, West Village and right on down to downtown/FiDi. People will go out there for meetings (if they have to), but don't want a daily commute.
With so many places having gone lean in past decade need for office space has shrunk anyway. So it isn't that difficult to keep people in Manhattan.
Even just before 9/11/01 mid-town was packed during day with foot and vehicle traffic thanks to business. Now not so much , in fact am often amazed at how "quiet" say Third avenue is during morning and evening rush hours.
The three main transportation centers from suburbs are in mid-town; GCT, Penn Station, and Port Authority bus terminal. Commuters tend to favor one seat and or otherwise easy travel to and from those places.
RE prices in Manhattan are just to rich for even Amazon atm, and all the prime locations are either long since snapped up or recently have been so.
Only way for Amazon to get property it would need in Manhattan would be via ED, and not even Cuomo and or BdeB are that dumb to pull another "Columbia" just for Amazon.
If they learn how to play the Manhattan property market, they can find the space just like what JPMorgan, NYU, and WeWork have done. There's a lot of opportunity for real estate downtown because some large properties are being vacated entirely (eg, 60 Wall St.), others are "occupied" but the leases are fragile (eg. WeWork, smaller businesses) and these tenants can be muscled out by Amazon, or tenants are government agencies who use the space just because NYC had to lure developers to build - there are a lot of buildings downtown like 1 WTC where one of the largest tenants is a gov't agency.
One strategy they can do is take over 60 Wall Street and then wait out the leases to expire at 28 Liberty (fka Chase Manhattan Plaza) which is nearby behind, so they can have both. That would make for an impressive and strategic HQ2 for Amazon. No problems with getting zoning approval.
It would be great if 28 Liberty can once again have a franchise tenant. It's a beautiful and solid building. Maybe it can be renamed One Amazon Plaza.
LIC is already pretty dense. a lot of skyscrapers already. what they need to do is upzone more inland areas, like Woodside and Jackson Heights, and even Flushing. Too many single family houses. they need to give those valueable land to developers.
What? So you don't want anyone in NYC to be homeowners? Let's bend over for Amazon!
Developers who will make over priced apt rentals with a couple of low income apts for people that make **** money.
Micro apts rent at 2700 to 3500. Think about that!
Quote:
Originally Posted by Shizzles
I am so hyped. I think this will be great for NYC and will help to diversify the city's economy away from Wall St. I still want the finance sector to grow, mind you, but in the end I do want tech to become another economic anchor for the city.
The gentrification issue can be resolved by building more housing.
NYC has media, fashion, finance, IT, music, start-ups, international company hubs, etc. NYC is not only Wall St.
why do people think Brookly will get much benefit? It does not have direct transit link to LIC except the G train. Also, the price in Brookly is already very high. People will simply search for value in Jackson Heights, Corona, etc. Most of the benefits will be felt along the 7 line, which connects LIC, GC, and another big CBD Hudson yards.
People can also directly take the Astoria line (N, W) and the Queens Blvd line (E, F, M, R) trains to LIC, or for that matter even LIRR. If the new station in Sunnyside Manhattans they will be able to take the Metro North via Penn Station as well.
With that said I agree this is going to speed up gentrification in Queens. The closest areas of Brooklyn to LIC along the G train, Greenepoint and Williamsburg already gentrified.
Sunnyside is next to LIC, and Woodside, Jackson Heights, and Elmhurst have two major lines (the Flushing and the Queens Blvd line).
If they learn how to play the Manhattan property market, they can find the space just like what JPMorgan, NYU, and WeWork have done. There's a lot of opportunity for real estate downtown because some large properties are being vacated entirely (eg, 60 Wall St.), others are "occupied" but the leases are fragile (eg. WeWork, smaller businesses) and these tenants can be muscled out by Amazon, or tenants are government agencies who use the space just because NYC had to lure developers to build - there are a lot of buildings downtown like 1 WTC where one of the largest tenants is a gov't agency.
One strategy they can do is take over 60 Wall Street and then wait out the leases to expire at 28 Liberty (fka Chase Manhattan Plaza) which is nearby behind, so they can have both. That would make for an impressive and strategic HQ2 for Amazon. No problems with getting zoning approval.
It would be great if 28 Liberty can once again have a franchise tenant. It's a beautiful and solid building. Maybe it can be renamed One Amazon Plaza.
I get the feeling they want to build a campus rather than just take over some existing office buildings. And knowing Amazon culture, I'm sure there would be an internal revolt if they found out HQ2 was going to be on Wall St.
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