Tag Archives: Amazon

Business Transactions in the Time of Corona

It seems like business is really at a halt because of the novel coronavirus but if you take even a slightly closer look you can see that it’s not quite the case at all.  Amazon has just signed a deal to lease a Queens warehouse spanning a million square feet.  This investment in NYC will feature a delivery station offering a hugely efficient delivery service for the workforce, and include a multi-level parking structure at 55-15 Grand Avenue. Amazon is also in the process of negotiating another lease of 620,000 square feet in Red Hook, Brooklyn that is currently under construction.

Plans have been filed with the City of Buffalo by Great Point Capital Management to build an expansive film and TV studio complex.  The deal was signed earlier this year for the purchase of a building site with Rich Holdings Inc. and the space will feature two 20,000 square feet stages along with one 70,000 square foot office/support space.

Two seven floor properties featuring 72 apartments (39,000 square feet) and a retail unit spanning 5,000 square feet have been sold in Greenwich Village.  The transaction was undertaken by the Tri-State Investment Sales Group for Avison Young.  The sale price was $572 per square foot, totaling $22,250,000.

New Job Opportunities in New York

Amazon is building its first fulfillment center in Staten Island, NYC. This warehouse will ultimately be responsible for the provision of 2,250 new jobs, where workers – together with the firm’s robots – will pack and ship orders to the tri-state area.

Given this, the company hosted a job fair on August 2, so that it can fulfill its goal to hire 50,000 new fulfillment employees over the coming months. On that one day alone, the firm received 20,000 applications for the positions which begin at $12 per hour plus benefits.

Barclays Bank is also anticipating job creation in New York.  As a reaction to Brexit, the investment bank is likely to feel the pain with lawyers joining bankers in moving away.  According to Barclays investment bank architect Bob Diamond (based in London), “People are beginning to understand Brexit is going to be far more profound and long-lasting than they thought. I’d be very surprised if support services and legal services don’t move,” which will ultimately be beneficial to New York job seekers.