Real estate in Queens has been booming over the past decade, but startups have increasingly taken up residence in Long Island City (LIC) over the last few years. Conveniently located directly across the East River from Manhattan, LIC has become a home for people who’ve been priced out of Brooklyn and Manhattan.

As a result, it’s also been deemed one of the hottest spots for young people to live in — and that’s helping to drive up residential prices. The area’s “extensive development” has propped rental prices well above Queens’ median, according to StreetEasy.

Silvette Julian, an agent with Compass Real Estate, characterized a recent open house event in LIC as “a madhouse,” with requests for showings and offers surging in the last 2-3 weeks.

Full story at – https://www.cnbc.com/2018/11/25/amazons-nyc-hq-seen-boosting-long-island-citys-housing-market.html