Property News

CNBC's "Power Lunch" team talks with Robert Frank, CNBC's wealth reporter, and Eric Benaim, CEO of Long Island City brokerage Modern Spaces, about how Amazon's decision to pull out of Queens will impact real estate.

"Amazon coming, I think, was a great thing," says Ryan Serhant. "All they wanted to do was bring jobs."

Alphabet's Sidewalk Labs reportedly proposed receiving a cut of property taxes, development fees and increased land value for its work in Toronto.

Keith Wu, CEO of Sunlight REIT, says interest rates continue to be a risk factor to business, but is now "more contained."

"I wish Amazon had stuck it out a little bit longer, because in the long term I believe that this would have been a good deal for both," said Rep. Gregory Meeks, D-N.Y.