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Some Amazon Employees Bought NYC Condos Before News of HQ2 Location Emerged, Says WSJ Report

An anonymous reader quotes a report from The Hill: At least two Amazon employees reportedly purchased condos in a New York City neighborhood before news emerged that the area had been picked to host the company’s second headquarters. The employees decided to buy units in a new 11-story condo building in the Long Island City neighborhood of Queens just before the first reports of Amazon’s HQ2 location were released this month, The Wall Street Journal reported Tuesday. While employees of companies are barred from buying or selling stocks based on information that has not yet been made public, lawyers told the Journal that they were unaware of any such ban affecting real estate transactions. There are no exact numbers on how many units have gone into contract in the Long Island City area since the announcement, but the Journal reports that one brokerage firm sold nearly 150 units just last week, 15 times its normal volume. Earlier this month, Amazon announced plans to split its second headquarters evenly between New York’s Long Island City and Arlington County’s Crystal City neighborhoods.


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