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Enhancing Real Property Values Historical records show that within a few years of its completion, Central Park was attracting investment and spurring new development in the surrounding area. 150 years later, the area around the Park continues to attract new investment.
As the Park has become more attractive, having an address in proximity to it has as well. Rising values around the Park reflect the cumulative impact of almost 30 years of investment by the Central Park Conservancy, in Park facilities, infrastructure and landscapes in improved maintenance and greater safety and in more extensive programming and services for Park users.
Just as New York’s leading hotels and cultural institutions are clustered near Central Park, so are many of its most prestigious corporate addresses, its most valuable residential properties and its highest-rent retail districts. |