Financial District
Rent Financial District Retail
The Financial District in the exclusive sense refers to Downtown Manhattan, but not WTC, Battery Park or Battery Park City, or a group of buildings to the east called the Insurance District.
Historically, the financial district was the largest business district in the country, although it long ago lost this distinction to Midtown. Nevertheless, it is still extremely important, housing City Hall, Wall Street and the New York Stock Exchange, and the Federal Building of New York. Since Downtown in general has had high vacancy rates in addition to the 9/11 Attacks, rates in Downtown are as low as they'll ever be for space that equals the best Class A that Midtown has to offer. Being close to the NYSE and AMEX is important for many firms, so they naturally will want to locate here. In fact, many historically strong business organizations in NYC are located in this area. Previously tenants had wished to locate in Midtown for the stores, bars, and restaurants because Downtown died after 6:00PM.
This is still the case, however it is changing. New apartment complexes are being built, and retail towers are being converted to condos at an alarming rate. Soon this area will have a more dynamic feel, and Optimal Spaces recommends that clients join the revitalization effort and relocate to Downtown before prices rise too high.
Historically, the financial district was the largest business district in the country, although it long ago lost this distinction to Midtown. Nevertheless, it is still extremely important, housing City Hall, Wall Street and the New York Stock Exchange, and the Federal Building of New York. Since Downtown in general has had high vacancy rates in addition to the 9/11 Attacks, rates in Downtown are as low as they'll ever be for space that equals the best Class A that Midtown has to offer. Being close to the NYSE and AMEX is important for many firms, so they naturally will want to locate here. In fact, many historically strong business organizations in NYC are located in this area. Previously tenants had wished to locate in Midtown for the stores, bars, and restaurants because Downtown died after 6:00PM.
This is still the case, however it is changing. New apartment complexes are being built, and retail towers are being converted to condos at an alarming rate. Soon this area will have a more dynamic feel, and Optimal Spaces recommends that clients join the revitalization effort and relocate to Downtown before prices rise too high.
