We all know about Amazon’s most recent scandalous decision. On February 13th the online retail giant decided to withdraw its plans for a headquarters in Long Island City, NY only months after announcing it was coming to the area. What’s even more surprising is the effect the mere announcement had on the real estate market in the area. As soon as people heard Amazon was coming to town, the amount of home purchases doubled! Coincidence? I think not! However, with the sudden decision to back out of the project it remains to be seen where the values of these deals will go.
This is How Amazon Affected Long Island City Real Estate
This can a tricky situation for buyers, as well as sellers to navigate through. Here at Rothstein Appraisers we are ready to help anyone in Long Island City and the surrounding areas with any appraisal services to determine where you stand. For more information, reach out to us at (516) 867- 0859. Let help you eliminate the uncertainty and give you the best possible value.