Developers pay $40 million for Long Island City tower to meet Amazon demand

While it’s not a certainty that Amazon will get everything it wants in Long Island City, New York developers continue to bank on land in and around the headquarters site with the expectation that the value of those properties will pop.

That’s because Amazon.com Inc. (NASDAQ: AMZN) is expected to take over up to 8 million square feet to accommodate 25,000 jobs.

The most recent deal was confirmed Wednesday by New York-based Silverback Development.

Silverback teamed up with AEW Capital to purchase…

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