Long Island City Rentals See Sharp Drop in Occupancy
Linc LIC and Jackson Park (RockRose, Tishman Speyer) For years, Long Island City has been experiencing rapid growth: New residential high-rises were built left and right, with thousands of residential units slated for delivery by 2020. Amazon took notice, choosing the Queens neighborhood for the site of its proposed second North American headquarters in 2020. But a lot can change in a couple of years. Amazon scrapped its plans to move to Long Island City, and then coronavirus hit, leading renters to ditch their new apartments and sending vacancy rates soaring. And that could spell trouble for...