Amazon “Lotto” Winners in New York and Virginia See Housing Jackpot

November 14, 2018
Published in Bloomberg

Following the announcement that Amazon would set up its first New York City outpost in Long Island City, the Queens enclave became New York’s most in-demand neighborhood overnight. The online retailer has been largely responsible for Seattle’s real estate boom, where single-family home prices have jumped close to 80% in just six years, a trend that’s expected to continue in Queens. In fact, the brokers at Modern Spaces, a Queens firm specializing in Long Island City condos, rentals, and investment properties, and charged with marketing many of the neighborhood’s new developments, saw an immediate surge in interest. “I had to excuse myself from my son’s birthday party, because agents were texting and calling me to say they were swamped,” says Eric Benaim, CEO of Modern Spaces. “We won the real estate broker lotto.

 
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