Amazon Hub in New York?
There were some rumors flying around last week that Amazon was reconsidering Long Island as a location for its new hub. Considering the hub is slated to bring at least 25k jobs to the city, concern was and is warranted.
While it appears that all is a go, some New Yorkers are still concerned as Amazon has a lot of other options.
WeWork is Having a Week
Earlier this week, WeWork purchased the former Lord & Taylor flagship location at 424 Fifth Avenue in New York for $850 million. That’s 676,000 square feet to be exact.
WeWork followed up their massive New York purchase by leasing out 40,000 square feet in Atlanta called the Boundary.
Robot Furniture?
The average apartment is 941 square feet, which is 5% less than a decade ago. So, what are people doing for more space?
Enter Ori Pocket Closet; an on-demand walk-in closet. The goal is to optimize your apartment for the most amount of space.
Any Ori users out there?
- Iconic Union Square building in San Francisco sells for $250m. The 250,000 square foot I.Magnin building is being purchased by Sand Hill Property Co.
- Is a vacancy tax coming for New York City storefronts? Maybe. Mayor Bill de Blasio is pushing for the tax in order to force retail locations to occupy their storefronts and not hold out for higher rent.
Are you on the list? Each week, we send out a quick and digestible email focusing on all things real estate. Subscribe to Real Talk here. Real Talk is brought to you by Real8 Group, a real estate executive search firm.