Acquiring a property in New York City is no small feat. Times Square is the one most populous areas of the city. It is a place that is attractive to visitors and tourist. But to business people and investors, Times Square is a place flooding with financial opportunity. Fortress Investment Group has become the owners of 20 Times Square. 20 Times Square is a massive property that will allow the investment company to make money from commercial spaces that include retail and dining.
Fortress Investment Group was founded in 1988. It was founded by three economic and financial experts who had a vision of creating a company that would be leading force in the investment advisory business. The company quickly expanded into hedge funds. It became the first private equity firm of its size to go public. Currently, the firm is responsible for over seventy billion dollars worth of assets. The company has won countless awards recognizing their achievements in the investment advisory and asset management industry.
This 20 Times Square project will be a spectacular achievement for Fortress Investment Group. This property will be a destination for international luxury travelers. Disposable income rates have risen. And that means traveling will be occurring more frequently. New York City sees millions of visitors and travelers every year. The renovation of two hotels will be much needed to house these travelling visitors.
The two hotels being renovated in the DoubleTree Suites and Marriott hotel. They sit across the street from the famous Palace Theater. The theater is also under renovation. This property will end up being able to lodge thousands of guests and offer meeting and event spaces. Other amenities include an area for fitness, bars, dinging and seating to watch the beauty of Times Square. Retail commerce will flourish in this area. The National Football League is looking to open a retail location that will cover twenty five thousand square feet of space. Fortress Investment Group has partnered with many individuals to make sure this property remake becomes a reality. New lobbies, modern technologies and elevation of the Palace Theater is in store.