Amazon’s NYC Pullout Shouldn’t Have Long-Term Impact on CRE Market: Experts

|

NATIONAL REAL ESTATE INVESTOR (FEBRUARY 15, 2019) – Most companies searching for space in New York City aren’t looking for 4-million-plus sq. ft. and $3 billion in incentives, they note.

Amazon’s quick abandonment of the deal sends a signal that a corporate expansion of that scale could have a difficult go of things in New York, according to Greg Willett, chief economist with RealPage, a provider of property management software and services.

“But again, it’s really unusual to have a deal this big, so does it do any big picture long-term damage to the New York real estate market? Probably not.”

Read more at: NATIONAL REAL ESTATE INVESTOR.

Shares
Share Icon