LIC you later
W ITH Amazon’s selection of Long Island City as the location for one of its two new headquarters, all eyes have turned to the Queens neighborhood.
The tech giant plans initially to lease 1 million square feet in the Citigroup building at One Court Square and to ultimately build its offices in Anable Basin, a waterfront swath near the Court Square stop of the E, M, G and 7. Just north of Gantry Plaza State Park on the East River, across from the southern tip of Roosevelt Island, that development will eventually house some 25,000 workers.
The just-announced move is escalating what is already a hot residential market. According to real estate firm Yardi, average Long Island City rents were $3,458/month in October, up 5.1 percent year over year. Other nabes that could feel the effects include:
1. Greenpoint: Two train stops from Court Square on the G, this is the closest Brooklyn ’hood to the new headquarters and, with more than a dozen new developments in the works, a likely spot for Amazonians interested in settling down in trendy Kings County.
2. Midtown East: The influx of new workers raises concerns about subway overcrowding in Queens itself, which makes a commute from the eastern edge of Manhattan — with stops on the E, M and 7 trains — look attractive.
3. Hudson Yards: Bezos’ crew could help fill some of the 4,000 units slated for this mega-development, conveniently located farther west in Manhattan along the 7 line. 4. Jackson Heights: Situated to the east of Long Island City, this diverse, still-affordable spot — with the average one-bedroom rent costing $1,870/month, according to brokerage MNS — is a short 7 train ride away.