Amazon.com Inc. (NASDAQ: AMZN | AMZN Price Prediction) reportedly is on the hunt for office space in New York City, despite deciding against building a headquarters in Queens. According to the New York Post, the e-commerce empire is looking for at least 100,000 square feet on Manhattan’s West Side.
The company supposedly has been speaking with Brookfield, the owners of the One Manhattan West building and its neighboring yet-to-be-built Two Manhattan West. Note that Amazon is already a tenant at another one of Brookfield’s Manhattan buildings and has about 5,000 workers in New York City.
Brookfield denied it was leasing office space to Amazon, but the sources said it likely couldn’t confirm anything because of the company’s strict confidentiality agreements.
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According to the New York Post:
Amazon’s renewed focus on Manhattan so soon after dropping its plans for Queens is an apparent rebuke to the politicians who helped scuttle Amazon’s plans to build a 4 million-square-foot campus in LIC, including US Congresswoman Alexandria Ocasio-Cortez, sources said.
Queens residents overwhelmingly supported plans for 25,000 new jobs with an average wage of $150,000, despite protests from Ocasio-Cortez and other politicians over $3.2 billion in capital grants and tax incentives, polls have shown.
One reason is that every job that Amazon brought to the area would have had a multiplier effect on five or more other local jobs, including at local coffee shops, dry cleaners and food franchises, said Alfredo Ortiz, president & CEO of the Job Creators Network.
However, Manhattan, as opposed to Queens, will barely register the growth. Whether or not Amazon will follow through is yet to be seen.
Shares of Amazon were last seen trading at $1,830.65, in a 52-week range of $1,307.00 to $2,050.50. The consensus price target is $2,170.21.
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