Over on the Far West Side of the middle of Manhattan, just slightly out of transit’s reach, Hell’s Kitchen has been filling out with residential buildings of every sort. First came rental buildings, then condo developments, then notable luxury buildings like the Stella Tower redevelopment.
Brooklyn may be booming, and Western Queens is cool now, but there will always be people who want to live in Manhattan. Hell’s Kitchen, once considered a seedy neighborhood, is now nearly out of space on which to develop.
The neighborhood has become highly marketable, being within “walking distance” (it’s a big neighborhood) to the Theater District, Central Park, and the Hudson River.
It’s a comparatively affordable piece of Manhattan, and restaurants have been filling in the neighborhood almost weekly over the past year. But for first time buyers trying to take advantage of the low mortgage rates, the two or three year wait before they can move into some of the new developments in Hell’s Kitchen can make them hesitate.
Jaclyn Boulan, an agent at Stribling Marketing Associates, says the fact that the 432 West 52nd Street building she is marketing has immediate occupancy has been a huge advantage.
“It’s instant gratification,” Boulan said. “There is nothing else in the area with immediate occupancy.”
The building launched sales just a week ago, with a rooftop restaurant event, “A Taste of Hell’s Kitchen.”
