Photographer: Craig Warga/Bloomberg

Amazon Unlikely to Pick NYC for New Home, Related's Ross Says

Stephen Ross, chairman of developer Related Cos., says it’s unlikely that Amazon.com Inc. would choose New York City as the site for a new headquarters.

“I can’t see them really coming to New York, realistically,” Ross said in a Bloomberg Television interview. “As much as I would like to see them, the cost of doing business in New York is far greater than anywhere else. And they’re always looking to do things -- at the scale that they do things -- not at the highest price point.”

New York is one of several cities that have signaled their interest in having Amazon locate there, and Brooklyn boosters say their borough has both the space and the hipness to accommodate the tech giant.

Ross, whose firm is leading the $25 billion Hudson Yards project on Manhattan’s far west side, knows a thing or two about attracting corporate tenants. BlackRock Inc. and Time Warner Inc. are among companies that are setting up headquarters at the development.

Ross talks on Bloomberg Television about the Hudson Yards development.

Source: Bloomberg

— With assistance by David Westin, and Alix Steel

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