October 11, 2017

NYC Competition for Amazon’s Second Headquarters Heats Up

As New York City mounts its bid to get the next Amazon headquarters, the five boroughs are in an increasingly fierce competition to show what they have to offer the online retail giant.

Ofer Cohen, president of TerraCRG, a commercial real estate brokerage firm focused on Brooklyn properties, said that the cost of real estate has “gone up tremendously” in Brooklyn over the last decade and that it is “very unlikely to be the most affordable place for Amazon to be.” But he said that it is “the most exciting place it could be,” noting its access to talent given that it is home to a significantly growing demographic “that is very skilled in creative, tech and media.” And he noted that Amazon is requiring that a big chunk of space be available in 2019.

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