Amazon’s Reversal: CRE Insiders and Political Leaders Respond

The Amazon smile turns to a frown./ (Design parody by Steve Lubetkin.)

NEW YORK CITY—It’s hard to listen to people with whom you disagree. And especially difficult when you really disagree. Add to the mix how New Yorkers are known for their strong opinions and the wealthiest man on Earth.

Amazon withdrew its plans to bring its second headquarters to Long Island City, Queens, citing opposition from some political leaders. Several members of the CRE community expressed disappointment, calling the news an “awful” or “sad” missed opportunity. They cited the loss of jobs, tax revenue and economic stimulus. Other politicians and civic leaders opined that Amazon had not shown itself to be a strong corporate partner. The HQ2 became a divisive issue, and one lesson learned was the importance of bringing different people to the table—especially those with whom you may not normally break bread.