Chelsea Piers New York Investment Overview
TRANSACTION STRATEGIC RATIONALE
✓ Truly irreplaceable asset with significant competitive advantages
Relatively low secular threat given limited supply of amateur sports facilities in New York City (e.g. no other recreational hockey rinks
in New York City)
Contains New York's best-located film production studios, a category currently in very high demand
No competitive banquet halls have the combination of waterfront views and capacity of up to 2,000 guests
Highly coveted Chelsea waterfront location leads to low turnover among Chelsea Piers' tenants - average tenancy of 20+ years
Resilient business model with a historical track record of recovering quickly from financial (e.g. the Great Financial Crisis), civil (e.g. 9/11)
and natural (e.g. Hurricane Sandy) crises
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✓
✓
Loyal customer base with resilient recurring revenue model
Exceptional leadership team with a proven track record
Chelsea Piers Strengths
VICI
Field House
Pier 60 Event Space
Sports Center
Sky Rink
LO
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