Amazon Confirms Long Island City and Crystal City

[Joe Splitrock]

It is confirmed Amazon chose Long Island City and Crystal City as number one and two for new headquarters. Let's track prices in those markets to see what happens.

[Russell Brazil]

Originally posted by @Ray Johnson:

@Russell Brazil I'm assuming the nicer neighborhoods prices are much higher and heading into the millions?

 There are perfectly nice neighborhoods in the mid $400s plus that will be likely landing spots for Amazon Employees in south Arlington, Alexandria, Fairfax, Rockville, North Potomac.

I think the more well paid employees in sort of that $700k per year range are going to pool in Arlington, Mclean, Potomac, Bethesda. And those will be in the $1.6-5 million price range.  But I dont think thats going to be the vast majority of their employees by any means.

I expect a lot of their employees are going to be in the $80-300k salary range, so thats going to largely put them in the $400-$1 million property range. (Metro area median price point is $500k)

I imagine a distribution of employees somewhere around 30% on the Maryland side of the border, 25% on the DC side and 45% on the Virginia side.  DC and Arlington will absorb most of the younger people.  Then the people with families will pool in the areas with good school districts. Falls Church, part of Arlington, part of Alexandria, Fairfax, Springfield, Rockville, Bethesda, North Potomac. (West side of 355 in Maryland, except where the Walter Johnson district crosses east over 355)

I had someone from out of state inquiring about whether Amazon would have an effect in Ward 7 and 8 in DC. I cant imagine more than a 100 or so people ending up over there...which gives me a sense that out of state people are just going to throw money at properties here without any sense of where people will live and why.