Page 14 - REAL ESTATE - Broker Opinion & Marketing Proposal

NEIGHBORHOOD DESCRIPTION

BIG BUSINESS

Broadway, Seventh, and Eighth Avenues in the mid-Fifties have become an international hub for numerous top-tier
media companies including Time Warner, Random House, Viacom, and the Hearst Corporation. To the south, other
media conglomerates such as Conde Nast and Bertlesmann rub elbows with legal, financial, and accounting giants
such as Reuters, Morgan Stanley, Lehman Brothers, Skadden Arps, and Ernst & Young. Each of these companies
has taken up residence in newly-minted office towers in the area. These new high-rise developments and their
high-powered tenants have transformed the area into a premier business location

TRANSPORTATION

Hell’s Kitchen benefits from outstanding access to all major forms of transportation due to its proximity to subway
hubs at Columbus Circle and Times Square which provide a direct link to the ACE, BDFQ, NR & 1/2/3 subway lines.
These lines afford quick access to both the east and west sides of Downtown Manhattan, the Bronx, Brooklyn, and
Queens.
In addition, the area is served by bus routes running north and south on Tenth Madison (#2/3), Fifth (#2/3), Sixth (#5)
and Seventh (#10) Avenues, as well as east and west along 50th, and 57th Streets.
By car, there is easy access to the Westside Highway and cross-town via 57th and 42nd Streets. All major bridges
and tunnels are easily accessible from the site. The three local airports are within easy reach: LaGuardia Airport (35
minutes), John F. Kennedy Airport (50 minutes), and Newark Airport (35 minutes).

CONCLUSION

No other micro-market in Manhattan enjoys Hell’s Kitchen’s mix of char-
acter and convenience. The neighborhood has a competitive advantage
over other New York markets in its ability to capture a broad range of mar-
ket demand segments. Demand for investment and development caliber
property in this area has been on the increase over the past decade, and
this pattern has shown no signs of stopping.

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