Long Island City will continue growth without Amazon, says real estate CEO

February 15, 2019
Published in CNBC
On CNBC last week, Modern Spaces CEO Eric Benaim projected confidence about the Long Island City real estate market in the wake of the news that Amazon had pulled out of its HQ2 plans in the neighborhood. “Long Island City was great three months ago before Amazon made the announcement,” said Benaim, “and it will continue the way it was prior to Amazon.” Benaim is not just putting spin on the news: since founding Modern Spaces over a decade ago, the firm has a 70% market share in the area and has been growing steadily with a focus on LIC luxury apartments and condos in Astoria. As Benaim said, “Long Island City has been an exciting and hot neighborhood for the past ten years,” which is doubtless what attracted Amazon to the area in the first place.
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