Will Amazon’s New Headquarters Kill Your NYC Business?

The 2018 Manhattan office leasing market experienced a record year with 33 million square feet of leasing activity. Corporate behemoths such as Google, JPMorgan Chase, Pfizer, Disney and Facebook have committed to millions of square feet of office space in Manhattan. Amazon’s November announcement that Long Island City would be its second headquarters location added even more fuel to the already heated office market.

Brooklyn and Long Island City have long been considered a cost-efficient alternative to Manhattan’s premium pricing. Now, with the five million square feet Amazon is expected to occupy, the boroughs may no longer...read more