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This is really silly...10k highly paid employees is a drop in the bucket in NY. The effect on rents will be negligible. They are absurd and will continue to be
by zaphod12 8y ago
This is really silly...10k highly paid employees is a drop in the bucket in NY. The effect on rents will be negligible. They are absurd and will continue to be absurd, but 10k employees in a metro area of 20 million won't change that.
All that said, it's hard enough to compete with Google and Facebook and Spotify for local talent...this will only make it worse.
- vadym909 8y agoGiven that at any time there are only a few hundred or so good houses available in any big city suburb, 10K new highly paid employees looking to get in can overwhelm real estate.
- crazygringo 8y agoI don't know what you're talking about with "houses". This is NYC and LIC we're talking about, we're talking apartments, and the place is chock-full of new high-rises.
- TheCoelacanth 8y agoThere aren't going to be 10k people looking for houses all at once. It will take them years to ramp up to 10k employees and many of them will already live in the area and will just be changing jobs. Many of them will also be young and single people who want a small apartment and not a whole house.
- dunpeal 8y agoWhere are you getting the 10K number? 50K will be split evenly between the two HQs. That's 25K per HQ.
- addicted 8y agoAccording to this article, just the Long Island City area of NYC added 9000 apartments last year. https://www.bisnow.com/new-york/news/home/queens-long-island-city-residential-72253#ath https://www.bisnow.com/new-york/news/home/queens-long-island... Add in the fact that potentially many people might room, and not everyone who will work there will be from outside the city, and many may want to live in other parts of the city, it looks like absorbing 10k new employees isn’t gonna be much of an issue at all.