Brooklyn may emerge as an attractive lure in New York City’s long-shot bid to become Amazon.com’s new home.
The borough’s image as a hip hub for millennials could give it a leg up as the e-commerce giant hunts for the perfect locale for its second U.S. headquarters, according to Ofer Cohen, president of TerraCRG, a Brooklyn-based commercial-property brokerage. Brooklyn is in the midst of a building boom, with about 7 million square feet (650,000 square meters) of offices planned, as developers seek to leverage the area’s popularity with young people who have migrated across the East River to escape Manhattan’s sky-high rents.
Amazon, aiming to build a corporate compound that will rival its original campus in Seattle, has solicited proposals for the project, which will cost more than $5 billion and create 50,000 jobs over the next 15 to 17 years. New York City entered the fray last week, touting its big-city living, diverse workforce and extensive university system as attributes that officials hope will help overcome the drawback of being one of the country’s costliest housing markets.
Developers across New York are working to assemble their pitches, according to Seth Pinsky, an executive vice president at RXR Realty.
(c) 2017, Bloomberg · Sarah Mulholland, Oshrat Carmiel