Amazon Opposition Surges As Real Estate Brokers Claim Market Is Booming

December 03, 2018 - 1:01 pm
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NEW YORK (WCBS 880) — Long Island City’s real estate market is already booming thanks to Amazon.

The future home of Amazon’s headquarters is attracting dozens of buyers, causing some brokers to work around the clock, seven days a week, according to the New York Post.

Though, despite the real estate boom, there’s still a huge opposition in the area from progressives and elected officials who continue to put pressure on the retail giant.

“Real estate brokers quoted in the Post are certainly not helping matters, because they’re leading to these outlandish beliefs about how things are going,” Crain’s Greg David told WCBS 880, adding, “real estate brokers rarely tell the truth and it is in their interest to say that prices are rising.”

He notes that the opposition has continued to gain traction since the Nov. 13 announcement. With the backing of prominent politicians and unions, David believes they’ve been able to paint Amazon in a similar light as Goldman Sachs during the financial crisis.

David adds that Amazon has never offered a response to the demonstrations throughout the city.

While both Mayor Bill de Blasio and Gov. Andrew Cuomo have strongly supported the Amazon deal, David thinks the opposition can still make a difference.

“I've talked to a whole series of proponents of the Amazon deal who are getting increasingly worried,” he explained. “Most people think that Amazon is going to have to come up with more than just window dressing concessions to convince the community that it will be a corporate citizen.”

Additionally, he believes Amazon will need to develop a stronger presence in the community to represent it’s interests and interact with those who have expressed concerns.

Amazon may also need to cut a political deal, especially with State Sen. Mike Gianaris, who represents Long Island City and is the one of the top Democrats in the Senate.