Neighborhood Guide FINANCIAL DISTRICT - MANHATTAN This is the oldest part of Manhattan, dating back to colonial days when the first Dutch settlers arrived around what is now Bowling Green. Naturally this area is rich in history as well as beauty: George Washington was sworn in as our First President at Federal Hall at Wall Street and Nassau. At City Hall, the Declaration of Independence was first read to the public and subsequently ignited the Revolutionary War. Trinity Church, with its delicate, intricate spires, is located at Broadway and Wall Street. And, of course, there’s the world-famous New York Stock Exchange located on Exchange and Wall. The buildings are mostly financial buildings and highrises, and so there’s not much of a community feel here. Downtown has been boasting for years that it’s the next great spot to live in New York, but try as it might the streets are still deserted after 6 o’clock. There are some shops and restaurants-just not as abundant as uptown. You will find a lot of delis, so you won't exactly starve. Plus, a huge downside to the Financial District is that the shops and restaurants that are around are closed on Sundays (the Amish Market on Cedar Street is helping to change this some). You can get your Banana Republic and Baby Gap fill at South Street Seaport, where rows of shops and restaurants are fairing well. But the real complaint that many Financial District residents have is the area’s almost complete lack of grocery stores. There is proof that the area is trying to emerge as a legitimate neighborhood, with dry cleaners opening up shop and the area even has its own weekly paper, The Downtown Express. You might think that inconveniences such as these would help drive rents down, but it hasn’t happened yet. The Financial District has been claiming to be the next big thing for five years, but it’s yet to be proven, and 9/11 certainly didn’t help things. Still, management companies are advertising special rates in effort to entice people to move downtown. Many of the apartments are converted office spaces that have been modernized—you won’t find a charming brownstone down in these parts like you would typically find in most any other New York neighborhood. You’ll probably live in a tall building, which will be next to another tall building, which means you may not get the greatest sunlight. Instead, you might get a sweeping view of the river. The convoluted streets here are one sign that this area developed before the original settlers realized that they had an actual city growing on their hands. There is no easy grid pattern here like there is in much of the rest of Manhattan, and those who live and work here take a certain joy in watching even New Yorkers get lost in the somewhat winding streets.
Cohen Smith Chang Licensed Real Estate Broker 12 West 37th Street 7th Floor, New York, NY 10018 Office: (212)277-5500 Fax: (212)377-5751