Sorry Jersey, not for you.

From Fortune:

Long Island City Real Estate Booms After Amazon Announces New York Office, Report Says

Though Amazon said it won’t begin hiring for its newly announced office in Queens, N.Y. until 2019, condo sales in the neighborhood are already booming.

For example, one Long Island City brokerage firm said it sold 150 units in just four days, The Wall Street Journal reports.

It’s only been a week since Amazon revealed plans for the New York office and another in Arlington, Va. The two cities offered the company billions of dollars in tax incentives in an effort to get the high-paying jobs that come with the Amazon expansions.

Just before news broke of the new headquarters’ location, two Amazon employees reportedly beat the rush and bought units in New Jersey and Queens, The Wall Street Journal reports. Lawyers told the paper that they’re not aware of any broken laws associated with employees making real-estate transactions based on nonpublic information.

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32 Responses to Sorry Jersey, not for you.

  1. grim says:

    From NJ101.5:

    IF YOU WORK IN NJ, YOU PROBABLY DON’T HAVE A MIDDLE-CLASS JOB

    Unemployment in New Jersey is at 4.1 percent, the lowest rate in 17 years. But a new study finds a majority of New Jersey jobs don’t pay enough to support a middle-class lifestyle.

    The Thirdway study classifies 30 percent of jobs in the Garden State as “hardship jobs,” which means they do not allow a single adult to pay all of their bills and expenses.

    The study also finds 28 percent of Jersey jobs are “living wage” jobs, meaning they pay enough to make ends meet, but just barely, and there’s not enough money to save for retirement or take a modest vacation.

    One out of four jobs in the Garden State are listed as “middle class.” These jobs pay enough for someone to save a little bit, take a modest vacation and dine out occasionally.

    About 17 percent of jobs in New Jersey are considered “professional.” These positions pay enough to take a more elaborate vacation and live in a more expensive home.

    Rutgers University economist James Hughes said it’s not surprising so many Garden State residents are stuck in lower-paying jobs.

    He noted the key factor here is “the real great transformation into really a post-industrial information technology dependent economy.” This kind of economic environment produces great rewards for those with in-demand talents.

    “But we have tremendous disparities: Those that don’t have the skill and educational levels to participate in that new economy are really stuck in service positions and the like,” he said.

    He said the information-processing and record-keeping jobs of the 1980s have been replaced by technology. Many positions, if not eliminated, have been dispersed to other countries where standards of living and pay are much lower.

    He noted even though many of our salary levels here tend to be higher than in other states, “New Jersey is one of the most expensive places in the United States to live. We rank No. 1 in housing costs and we have high tolls on our roads and high property taxes.”

    Hughes said while we have very low unemployment numbers in New Jersey and across the country, that’s misleading.

  2. Yo! says:

    Queens on up. No help for Jersey. Nassau County will enjoy suburb benefit with 2 LIRR stations in Long Island City.

  3. Yo! says:

    NJ unemployment 4.1%, lowest in 18 years. Will it fall below 2000 3.6% level?

  4. Grim says:

    Not under the current administration.

  5. Grim says:

    One of the hottest employment markets in the state just enacted a brand new payroll tax.

    The stare claims to be innovation focused but they just slapped an egregious new tax to protect traditional interests.

    $15 minimum wage is gaining traction.

    Think about that.

  6. chicagofinance says:

    ? NFW….. do you have any idea what you are talking about? It’s all about Subway and Uber/Lift…… I grew up several towns over from there……. people will mostly walk or bike to work…. when the grow up, they will move to Brooklyn……or the Gardens in Forest Hills max….

    Yo! says:
    November 21, 2018 at 6:28 am
    Queens on up. No help for Jersey. Nassau County will enjoy suburb benefit with 2 LIRR stations in Long Island City.

  7. chicagofinance says:

    Biggest beneficiary short of LIC proper is probably Greenpoint, Astoria and certainly Roosevelt Island…..

  8. Libturd...look me up in Costa Rica says:

    How long before we rename LaGuardia Amazon Airport?

  9. chicagofinance says:

    How about Bezos Skyport?

  10. Bruiser says:

    Amazon Logistics is going to own all takeoff & landing slots at Allentown Airport, but I’m sure Amazon corporate will take over the shuttle operations from Verizon.

  11. D-FENS says:

    They’re treating roadways with brine again today.

    https://twitter.com/Milkman331/status/1064934227156889602

  12. Fast Eddie says:

    They’re treating roadways with brine again today.

    Democrats are all about appearances and symbolism. They like theoretical ideas because it’s always perfect and they’ll have something to campaign on. Tell the lesser masses something they want to hear and they’ll vote for you. Most who vote democrat are sort of like dogs… give them a bone a few times and they’ll keep coming back.

  13. Grim says:

    Truck spraying on 80.

    Got pictures to prove it.

  14. The Great Pumpkin says:

    Disgusting abuse of taxpayer money. I’m not mad at murphy for last week, but I’m quite upset over this. Complete waste of our money.

    D-FENS says:
    November 21, 2018 at 11:29 am
    They’re treating roadways with brine again today.

  15. Blue Ribbon Teacher says:

    He better hope it’s a mild winter. He will run out of salt if he insists on spraying everyday. Does this guy have any concept of checks and balances. Would love for a former Goldman employee to comment on him for once.

  16. Juice Box says:

    Anyone remember the winter of 2014. We use up all the road salt, and could not get more because no US ship could be found to transport it quickly?

    https://www.nj.com/news/index.ssf/2014/02/dot_chief_says_low_salt_supplies_could_force_interstate_closures_in_snow_storms.html#incart_m-rpt-1

  17. chicagofinance says:

    Who needs symbolism? How about quid pro quo?

    https://www.latimes.com/local/lanow/la-me-ln-skid-row-voter-fraud-20181120-story.html

    Fast Eddie says:
    November 21, 2018 at 12:20 pm
    They’re treating roadways with brine again today.

    Democrats are all about appearances and symbolism. They like theoretical ideas because it’s always perfect and they’ll have something to campaign on. Tell the lesser masses something they want to hear and they’ll vote for you. Most who vote democrat are sort of like dogs… give them a bone a few times and they’ll keep coming back.

  18. WickedOrange says:

    Soon to be NJ

    How Canada’s addiction to road salt is ruining everything
    Bringing down bridges, melting cars, poisoning rivers; it’s hard to think of something salt isn’t ruining

    https://nationalpost.com/news/canada/how-canadas-addiction-to-road-salt-is-ruining-everything

  19. 3b says:

    Blue he was at Goldman when I was there but I believe he spent most of his career at GS in Europe.

  20. Yo! says:

    Chicago,

    Homebuilders in right neighborhoods are doing fine. New home prices in Hudson County recently pierced $1,500 per square foot. I see home prices in these neighborhoods continuing to rise until they hit Bay Area and Vancouver levels.

    http://tax1.co.monmouth.nj.us/cgi-bin/m4.cgi?district=0911&l02=091100045__0100001__01C0055M

  21. chicagofinance says:

    ah yes…… Wu-Zikang…… grew up in Staten Island and is a former member of the Wu Tang Klan…… discerning buyers…..

    Do you want an actual neighborhood or people parking cash?

  22. Juice Box says:

    Yo unit #303 sold for $830 last year what gives? Solid Gold toilets perhaps.

    Check the who’s who in that building.

    Block Lot Qual Class Location Owner
    More Info
    45.01 1.01 C0028 2 150 HENLEY PLACE #201 NOZELL, PATRICIA T.& JOHN D.
    More Info
    45.01 1.01 C0029 2 150 HENLEY PLACE #202 FAN, XINYU & WU, BINGXI
    More Info
    45.01 1.01 C0030 2 150 HENLEY PLACE #203 ZHANG, AIYING
    More Info
    45.01 1.01 C0031 2 150 HENLEY PLACE #204 ZHAO, KAIYU
    More Info
    45.01 1.01 C0032 2 150 HENLEY PLACE #205 GUNER,NICHOLAS & KATHLEEN A
    More Info
    45.01 1.01 C0033 2 150 HENLEY PLACE #206 JAY JESS II,LLC C/O THOMAS LYDON
    More Info
    45.01 1.01 C0034 2 150 HENLEY PLACE #207 ZHOU,CHAO
    More Info
    45.01 1.01 C0035 2 150 HENLEY PLACE #208 MAD RENTALS,LLC
    More Info
    45.01 1.01 C0036 2 150 HENLEY PLACE #209 CHUNG,KEVIN
    More Info
    45.01 1.01 C0037 2 150 HENLEY PLACE #210 SARKAR,AVIK & AVANI
    More Info
    45.01 1.01 C0038 2 150 HENLEY PLACE #211 ZENG, YUCHAO & GAO, YUN
    More Info
    45.01 1.01 C0039 2 150 HENLEY PLACE #212 LEE,JANG KUN & PARK SUHYN
    More Info
    45.01 1.01 C0040 2 150 HENLEY PLACE #213 LIU,JIANING
    More Info
    45.01 1.01 C0041 2 150 HENLEY PLACE #214 KIM, PAUL H.& SARAH S.
    More Info
    45.01 1.01 C0052 2 150 HENLEY PLACE #301 LR PORT IMPERIAL SOUTH BB, LLC
    More Info
    45.01 1.01 C0053 2 150 HENLEY PLACE #302 DIAZ,RIVERA MARIANO
    More Info
    45.01 1.01 C0054 2 150 HENLEY PLACE #303 ZHANG,RUQING & MA, SHINAN
    More Info
    45.01 1.01 C0055 2 150 HENLEY PLACE #304 WU, ZIKANG
    More Info
    45.01 1.01 C0056 2 150 HENLEY PLACE #305 LI, HUA & ZHANG, JIAN
    More Info
    45.01 1.01 C0057 2 150 HENLEY PLACE #306 AHUJA, SUNIL
    More Info
    45.01 1.01 C0058 2 150 HENLEY PLACE #307 PAYAPPILLY, JOHN J.& PREETHY J.
    More Info
    45.01 1.01 C0059 2 150 HENLEY PLACE #308 MUTH,SUSAN
    More Info
    45.01 1.01 C0060 2 150 HENLEY PLACE #309 CARREL,ADINA
    More Info
    45.01 1.01 C0061 2 150 HENLEY PLACE #310 HUFF, DARLENE
    More Info
    45.01 1.01 C0062 2 150 HENLEY PLACE #311 WANG,HAO & ZHU,CHARLES
    More Info
    45.01 1.01 C0063 2 150 HENLEY PLACE #312 RUBIN, DAVID & MARIAN
    More Info
    45.01 1.01 C0064 2 150 HENLEY PLACE #313 ZHUANG,QINGYUE
    More Info
    45.01 1.01 C0065 2 150 HENLEY PLACE #314 LR PORT IMPERIAL SOUTH BB, LLC
    More Info
    45.01 1.01 C0070 2 150 HENLEY PLACE #401 LR PORT IMPERIAL SOUTH BB, LLC
    More Info
    45.01 1.01 C0071 2 150 HENLEY PLACE #402 LEE, ENUG JUN & SUSIE
    More Info
    45.01 1.01 C0072 2 150 HENLEY PLACE #403 MAZZOLA, MICHAEL & JAMIE LEE
    More Info
    45.01 1.01 C0073 2 150 HENLEY PLACE #404 LR PORT IMPERIAL SOUTH BB, LLC
    More Info
    45.01 1.01 C0074 2 150 HENLEY PLACE #405 ZHANG,YU & LAN,HONGLI
    More Info
    45.01 1.01 C0075 2 150 HENLEY PLACE #406 HOH406, LLC.
    More Info
    45.01 1.01 C0076 2 150 HENLEY PLACE #407 BLOOM,MICHAEL & SUZANNE
    More Info
    45.01 1.01 C0077 2 150 HENLEY PLACE #408 KWON, DOHUN
    More Info
    45.01 1.01 C0078 2 150 HENLEY PLACE #409 YI,CHUANG
    More Info
    45.01 1.01 C0079 2 150 HENLEY PLACE #410 TRIPATHI, NISHANT & ANSHULI
    More Info
    45.01 1.01 C0080 2 150 HENLEY PLACE #411 JIN, ZHAO & LIU, XING
    More Info
    45.01 1.01 C0081 2 150 HENLEY PLACE #412 KAUSHIK,RAHUL & DEEPALI
    More Info
    45.01 1.01 C0082 2 150 HENLEY PLACE #413 WANG, LIN & FENG, CHAO
    More Info
    45.01 1.01 C0083 2 150 HENLEY PLACE #414 CANDELA,JOSEPH & DINA M

  23. Not JuiceBox says:

    Most of these are high worth Chinese Communist Party apparatchiks’ families parking their “earnings” outside of China. Remember, NYC has the Chinese UN mission plus related embassy plus consulates, all having a lot of CCP members.

    China does not allow individuals to transfer monies out of the country for investments like foreign brokerage accounts, but they do allow it for residential real estate purchases. So if you are connected, the only way to get money out is buy residential real estate and their maintenance cost is the equivalent of paying a monthly bank fee or % fee for having an account.

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  25. The Great Pumpkin says:

    Jaime Dimon calling for one of the best global growth years on record in 2019. Guess pumps isn’t alone in his thinking.

    Check this tidbit out….”we have never gone into a recession with consumption on the rise, and right now consumption is on the rise.”

    Again, I laugh at this stock market shedding 20% off of stocks like apple and amazon. What a f’n gift for the holidays.

    https://youtu.be/7ldLrTr8t64

  26. D-FENS says:

    Documentary maker embedded in Migrant Caravan in Mexico

    https://www.youtube.com/watch?time_continue=3&v=BFbiqlExkfo

  27. The Great Pumpkin says:

    My god, look at the Debbie downers commenting on the Dimon video. Sounds like Clot. Sell all your stock, and buy gold and silver!! Hurry!!

  28. RoxburyRules says:

    Some recent talk about Roxbury, compare this to Wayne:

    Black Friday is all about the deals, but you probably won’t find one here: listed for $5,650,000, this Roxbury Township home is the most expensive on the Morris County market. With six bedrooms, six full bathrooms, a waterfall and custom details, this home is full of luxuries. Read more about it here, and visit realtor.com for even more photos.

    Address: 15 Auriemma Ct, Roxbury Township, New Jersey
    Price: $5,650,000
    Square Feet: 11219
    Bedrooms: 6
    Bathrooms: 6 Full and 3 Half Baths
    Built: 2009
    Features: Exquisite luxury lakefront 1 hr nycNYC 15k sqft approx, 200 ft lake frontage, boat house, sprawling dock, in ground concrete pool water fall & hot tub, landscaped, slate patio w/columns, gated entry, – grand staircase rich wood iron balusters, lake views gourmet kitchen, sub zero refrigerator, gas cooktop, custom hood, granite and wood touches, Brazilian walnut cabinetry, butlers pantry. Custom bar/billiard rm, music room granite fireplace master bedroom domed turret, gas fp, lake views, masterbath custom cabinetry, granite soaking tub imported from Italy. Wic/ room w/ lg granite ctr island. Sitting room w/ french doors to hot tub gs fp. Ll movie theater, golf simulator rm, fireplacep fmrm, exercise room, inlaw/aupair suite, high ceilings, 2 laundry rooms, doggie wash /mud room, 3 car garage, outdoor living for summer fun! Public water/sewers.

    https://patch.com/new-jersey/longvalley/5-6m-home-most-expensive-morris-co-market

  29. Blue Ribbon Teacher says:

    Tell us when you load up on stock Pumps and which ones.

  30. homeboken says:

    I would LOVE to see anyone that can drive from Roxbury to NYC in 1 hour.

    Perhaps if you leave at 2am and time the red lights properly.

    Features: Exquisite luxury lakefront 1 hr nycNYC 15k sqft approx,

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