38 W 39th St
New York, NY 10018

The Modern Arts Building, built in the 19th century, is located on a prime block on 39th Street between 5th and 6th Avenues. The five-story, 25 foot wide, elevator building receives light from the South, East and West, and features oak wood flooring, brick walls, and newly renovated bathrooms on each floor. Originally built as a residential building, the building exterior and interior structure is quaint and fashionable, highlighted by distinct turn-of-the-century elements including classic wood work, railings and moldings that offer a residential like charm within a certified office building. The Property is located on 38 West 39th Street, within the heart of the Bryant Park area of Midtown Manhattan.  It is centrally situated at the epicenter between Grand Central Terminal and Times Square, two of the most popular business and tourist districts and two of the busiest transportation hubs in all of Manhattan. The Property affords direct access to all of the major subway lines: B, D, F, M & 7 at Bryant Park, the 4, 5, 6, 7 & Shuttle at Grand Central Station, and the N, Q, R, S, 1, 2, 3, & 7 at Times Square. A brand new subway entrance at Bryant Park was recently completed on 39th and 6th avenue, just footsteps away from the Property. Aside from virtually all the major subway lines in Manhattan, the Property is also just a few blocks away from the Port Authority Bus Terminal, which accounts for approximately 200,000 passengers and over 6,000 bus trips made daily. Bryant Park is a highly popular privately-managed public park that is bounded by Fifth and Sixth Avenues between 40th and 42nd Streets. The park’s appeal and popularity are enhanced by an expansive array of critical developments that surround it. Major office buildings, colleges/university centers, theaters, retail shopping outlets, restaurants, upscale residential buildings populate the Bryant Park area. The central building of the New York Public Library is located within the park. Over the past decade, the Bryant Park area has emerged as one of the most sought out after commercial and tourist destinations in NYC. It has a famous ice skating rink that visitors enjoy in the winter and host a myriad of different concerts and festivals throughout the year. The development of major projects between the streets of 39-42nd street and the avenues of 5th and 7th has been unparalleled. Its rise to glory began in 2009 with the construction of the Bank of America Tower Headquarters. This office building represents the fourth largest building in New York City, and the sixth largest in the United States. Since then, there has been a significant amount of office development in the area with the latest project being 7 Bryant Park, the new US headquarters of Bank of China on 6th avenue between 39th and 40th Street. WeWork is set to move their global headquarters to the corner of 39th street and 5th avenue occupying 525,000 square feet. The area has also experienced a significant rise of hotel development that includes premier brands such as the Setai, Andaz, Refinery, and Bryant Park Hotel. Another four hotels are in the pipeline to be completed within a 1 block radius of the Property. The development of such upscale-to-luxury hotel establishments not only bolsters the area’s appeal, but also assists in solidifying the broader Bryant Park area’s status as one of Manhattan’s most upscale neighborhoods.