Amazon hasn't even moved in yet, but Long Island City's housing is already seeing a surge of interest.
Yet in the weeks following the announcement, the Queens waterfront neighborhood — lined with shiny glass condo towers — has experienced growing demand in what's been an already hot market. An influx of would-be residents appear to be trying to get a head start on Amazon's expected move.
Real estate in Queens has been booming over the past decade, but startups have increasingly taken up residence in Long Island City (LIC) over the last few years. Conveniently located directly across the East River from Manhattan, LIC has become a home for people who've been priced out of Brooklyn and Manhattan.
As a result, it's also been deemed one of the hottest spots for young people to live in — and that's helping to drive up residential prices. The area's "extensive development" has propped rental prices well above Queens' median, according to StreetEasy.
Silvette Julian, an agent with Compass Real Estate, characterized a recent open house event in LIC as "a madhouse," with requests for showings and offers surging in the last 2-3 weeks.
Amazon's arrival would have a tremendous impact on the neighborhood and others nearby, according to Stephen Albonesi, an urban planner with Localize.city, a real estate analysis platform.
"If any area in New York is poised for a major influx in residents, it's Long Island City," Albonesi said, citing a "building boom [that's] already remaking much of the area and where residents have been grappling with how to meet the demands of thousands of new people."