Real Estate

Real Estate Brokers Despair Over Amazon's Abrupt NYC Reversal

Pullout sends shock wave through Queens real estate community
Criticism of $3 billion incentive package drove opposition

What Amazon's Abandoned HQ2 Plan Means for NYC Real Estate

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By Ben Foldy, Sydney Maki, and Lily Katz

February 14, 2019 at 7:11 PM UTC

Let the finger-pointing begin.

Amazon.com Inc.’s decision to drop its expansion plans in the Long Island City neighborhood of Queens plunged local real estate brokers into despair -- just months after the euphoria that followed the company’s announcement that it would open offices there and bring thousands of jobs. But not just despair. Also anger.