The Amazon-fueled New York City real estate boom just went bust.

The Amazon-fueled New York City real estate boom just went bust. Realtors in the Long Island City neighborhood of Queens had been doing brisk business since Amazon announced plans to move its "HQ2" there in November - and were stunned when Amazon backed out of the deal on Thursday.

"The citizens of Long Island City are in mourning," said Eric Benaim, CEO of Modern Spaces Realty, a real estate firm focused on Queens. "It's a sad day for Queens and all of New York.

"You're taking away 25,000 people from employment," he added, referring to the number of people Amazon had been expected to hire.

Full Article