With approximately 50 million annual visitors, many districts and landmarks in New York City have become well known. Times Square is the brightly illuminated hub of the Broadway theatre district, one of the world’s busiest pedestrian intersections, and a major center of the world’s entertainment industry. The city hosts many renowned bridges, skyscrapers and parks. New York City’s financial district, anchored by Wall Street in Lower Manhattan, has been called the world’s leading financial center and is home to the New York Stock Exchange, the world’s largest stock exchange by total market capitalization of its listed companies.

The 120 Water Street Project is located in the heart of the Financial District, around the corner from Wall Street and walking distance from the Stock Exchanges, the new Freedom Tower, Goldman Sachs Headquarters and South Street Seaport which will soon host a brand new arena and shopping district.

Lower Manhattan has greatly benefited from $30 billion in public and private investment and is poised to become Manhattan’s largest tourist attraction. Projects including One World Trade Center (Conde Nast HQ) and recently announced Two WTC development (Fox HQ), The Fulton Center featuring Le District, a vast French marketplace with several dining options at Brookfield Place, and the 9/11 Memorial Museum will be major draws for years to come.

•The 9/11 Memorial Museum has 110,000 square feet of exhibition space and is located in the heart of the World Trade Center site. The exhibits will tell the story of 9/11 through multimedia displays, archives and a collection of authentic artifacts. Additionally, the 9/11 Memorial has seen more than 7 million visitors since it opened in September 2011. This will be an obvious appeal for Downtown hotels.

•Construction continues on the above-ground occulus of the Santiago Calatrava designed World Trade Center Transportation Hub. The Fulton Center will house the PATH station and serve as an essential transportation and retail center in Lower Manhattan, providing easy transfer to eleven different subway lines. 300,000 daily customers are projected to use the hub daily. The entire project was officially opened in November of 2014.

•At the end of 2014, Lower Manhattan’s hotel inventory consisted of 5,437 rooms in 25 hotels, with another six hotels in the planning stage. With the trend of office users moving Downtown in search of less expensive rents and an ever-growing tourism focus, bodes well for hotel operators seeking to attract these visitors and businesses.

Within a 5 minute walk from the property is the South Street Seaport/Pier 17 retail complex. Dallas-based Howard Hughes Corp. is currently redeveloping the entire South Street Seaport area through a $1.5 billion investment with $300 million to improve the nearby infrastructure. Upon completion, this site will once again become a top Manhattan attraction for both locals and tourists.

•The new Pier 17 waterfront complex, will feature a four-story retail building that will offer a mix of boutique and large restaurant and retail spaces. The retail will have a typical New York streetscape design, with smaller individual structures housing shops and restaurants, separated by open-air pedestrian thoroughfares.

•The project will completely transform the existing location into a vibrant destination, which builds on Lower Manhattan’s commercial resurgence, continued residential growth, and evolution into a 24/7 live/work/play community.