All Manhattan, Except the Financial District

As a real estate agent, I often hear from my buyers that they are interested in all Manhattan neighborhoods EXCEPT the Financial District. Why exclude it I ask? Their reply is the usual… “Well…there’s no night life…there’s no shopping….too many suits… it’s not trendy…there aren’t any good places to eat…too many young kids…. too many old kids. It’s…well… just too boring! Get the picture?”

Listen to me buyers: within the next five years, we will witness a drastic change in the Financial District (in a good way) and it’s surrounding areas. Mark my words and let me explain why.

There will be four distinct micro-neighborhoods within FiDi: The World Trade Center Brookfield Place (formerly the World Financial Center), Fulton Street Transit Center and Southstreet Seaport. These four neighborhoods will house some of the biggest retailers in the world and they will all be within walking distance for residents of the Financial District.

Can you imagine a marketplace similar to Eataly in the former Winter Garden? Can you imagine a downtown “Fifth Avenue” called Cortland Way, with luxury brands facing the 9/11 Memorial? Can you imagine not one, but two high end department stores that will anchor Brookfield Place? How about stylish boutiques like Nolita?

Plans are well under way with the World Trade Center and Brookfield Place bringing a total of 615,000 square feet of retail space to the market. In addition, Fulton Street Transit Center will have 70,000 square feet of upscale retail space. South Street Seaport and the new Pier 17 are also looking for tenants. Add to this, upon completion, three out of the seven towers at the World Trade Center will have the first, second and third tallest buildings in America and will be the new headquarters for Conde Nast. That means an influx of creatives, media firms and high-tech companies.

There are 13 subway lines, PATH trains, and Hudson River ferries all converging in the Financial District. With the profusion of commercial and retail spaces coming to the Financial District, its 61,000 residents (double from before 9/11), 309,500 weekday workers, and 39,380 daily visitors will enjoy many shopaholic field days followed by gastronomic experiences in the very near future.

Now…do you still think the Financial District is boring and should be excluded from your property search?

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