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Investors and Stakeholders Still Maintain and Strong Outlook for Long Island City

Credit: Destination360

Long Island City’s commercial real estate market has seen its fair share of challenges. For years it has been flooded with luxury rental units, faced high office vacancy rates, few retailers and the very public tumult of the Amazon HQ2 deal collapse. But investors and stakeholders in the neighborhood still maintain a strong long-term outlook. They say office tenants increasingly see it as a viable alternative to Manhattan, the population is still growing and burgeoning asset classes like life science buildings and last-mile industrial facilities are gaining traction.

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