Page 13 - REAL ESTATE - Broker Opinion & Marketing Proposal

NEIGHBORHOOD DESCRIPTION

HELLS KITCHEN

Considered one of Manhattan’s trendiest neighborhoods, Hell’s Kitchen continues to grow and change in ways that
could not have been predicted 30 years ago. Located to the west of Eighth Avenue between 34th and 59th Street,
the neighborhood has recently undergone a significant revitalization. Once known for being a haven for street
gangs and mobsters, the area has evolved into an epicenter for restaurants, nightlife, luxury condos and turn-of-
the-century renovated townhouses.

Throughout much of the last century, Hell’s Kitchen was a melting pot. Home to immigrants of many nationalities,
the neighborhood was known for its organized crime and violence. Although multiple theories exist on how the
name came to be, the most predominant recounts the story of a rookie cop telling his veteran partner, “This place
is Hell itself,” to which the veteran police officer replied, “Hell’s a mild climate. This is Hell’s Kitchen.”

Although the Hell’s Kitchen moniker has lived long past the rough-and-tumble days of the neighborhood, many
of the aspects have changed completely. Today, luxury condo buildings attract young professionals and families.
Restaurants dot the map with cuisines from all over the world, and bars and pubs attract customers at all hours.

THE NEW FRONTIER

In recent years, developers have been stampeding to the far west side of the neighborhood between Tenth and
Twelfth Avenues, an area considered one of the city’s last frontiers.

Built in 2013, Gotham West, is a four-tower megaproject. Spanning the Western two-thirds of the block bounded by
Tenth and Eleventh Avenues between 44th and 45th Streets, this development boasts a 31-story tower, two 14-story
towers, 1,240 residential units, 17,000 square feet of retail, a 200-car parking garage and a newly expanded school.
On the ground level is the Gotham West Market, a 10,000 square foot “luxury food court” featuring fine dining and
specialty food options from the city’s top-rated chefs.

On West 42nd Street between Eleventh and Twelfth Avenues are several new, high-profile residential developments.
On the north side of 42nd Street is the Atelier, a 478 unit, 46-story luxury condominium building developed by the
Moinian Group. On the south side of 42nd Street, Silverstein Properties recently finished the much heralded Silver
Towers at River Place. Both developments will assuredly bring new residents to the community which is turn will
drive retail along the avenues

NIGHTLIFE

No neighborhood in Manhattan offers a denser collection of restaurants than Hell’s Kitchen. Lining both the avenues
and many of the side streets are wide assortment of cuisines from all over the world. One particular street has
become known as an epicenter for dining in Hell’s Kitchen. For over 100 years the block of West 46th Street
between Eighth and Ninth Avenue has been home to some of the city’s finest dining establishments. The street,
dubbed “Restaurant Row” and officially dedicated by Mayor John Lindsey in 1973, is currently the home to 34
restaurants. The cuisine is as diverse as the clientele. Just as tourists arrive from all corners of the globe, the options on
Restaurant Row are just as varied. From famed Italian restaurants such as Barbetta, to Thai cuisine of Bankok House,
to the Chilean restaurant Pomaire, Restaurant Row’s diversity pleases all restaurant-goers.

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