Brokers in one of Amazon's chosen HQ2 locations are reportedly already selling condos sight-unseen — and development hasn't even begun

Brokers said that they saw a flurry of inquiries in Long Island City after rumors that Amazon would move there surfaced last week, the WSJ reported.

  • Amazon
  • HQ2
  • will be split between two locations
  • Reports surfaced last week
  • The Wall Street Journal

Amazon has finally settled on a home for its second headquarters, dubbed HQ2.

The new offices will be split between two locations: Long Island City in Queens, New York, and an area of Northern Virginia that is now being called National Landing. National Landing

While the news was officially announced on Tuesday morning, it didn't come as a surprise to many people after last week that Amazon would likely be picking these two locations.

In fact, people were so convinced that this would happen that they began snapping up real estate in this area before the official announcement was even made.

Long Island City real estate brokers told The Wall Street Journal that they had witnessed a flurry of inquiries over the past week. Some of these people were even buying

"This is the first time in my 20-year career that I have seen the market go from a buyer's market to a seller's market overnight, based on a rumor," Patrick W. Smith, a Stribling agent in Long Island City, told The Journal.

"Buyers are hoping it will become the next Silicon Valley and want to be in on that," Kayla Lee, a broker at Modern Spaces, told The Journal.

But while many are hoping to capitalize on an upcoming real-estate boom, some locals are worried about the potential downsides that this will have on rental prices, gentrification, and traffic.

Business Insider reported earlier this year that Seattle's median rent increased by nearly three times the national median from 2005 to 2015.

  • Amazon officially announces its HQ2 will be split between New York and Virginia
  • Amazon finally explains why it's cutting its second headquarters in half
  • Arlington, Virginia, lured in Amazon with promises of a helipad and a cash grant of up to $550 million
  • New York City has lured Amazon with more than $1.5 billion in incentives — here's what else they agreed to
  • We walked around Long Island City, the New York neighborhood where Amazon is planning to bring HQ2, and saw why it'd be appealing to the e-commerce giant

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