Real estate agents who work in Long Island City were unsurprisingly disappointed by Amazon’s decision to cancel their order for a new headquarters amid political and community pressure but think that the market there can weather the setback. “Amazon’s decision to bring HQ2 to New York City added one more corporate headquarters to a city already full of them,” Valhouli says. “We were optimistic that Amazon coming to Long Island City would have also boosted the Brooklyn market,” says Kierstin Kolle, managing director of Brooklyn for brokerage firm REAL New York. Haber says that while the fate of the transactions he’s working on in Long Island City are unknown, he doesn’t believe the collapse of the Amazon HQ2 deal will make a big dent. In fact, Valhouli believes this is an excellent opportunity for the city to court other, less high-profile tech companies.

Source: Forbes February 14, 2019 20:49 UTC