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Welcome to NYC Amazon! You arrived as Brooklyn mourns the loss of the ‘L” train for the next 2 years (or as the folks along the new 2nd Avenue Subway can attest 2 years is Dog Years). The ULI 2019 Emerging Trends in Real Estate highlighted “Dealing with the real costs of free delivery. Real estate will need to pay attention to how potential solutions—such as congestion pricing—impact land values and investment opportunities.” The total economic impact was calculated in a recent study by INRIX combining the direct costs of time and fuel lost sitting in traffic and the indirect costs of higher consumer prices due to elevated shipping prices: the “Congestion Cost” for the U.S., Britain and Germany combined was $461bn or $975 per person. U.S. businesses will bear an estimated $240 billion in congestion costs over the next five years, while annual spending on roads and highways is just 37 percent of what’s needed to keep pace with deterioration. Shop early.

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