Financial District, Manhattan, NY
About the Financial District, Manhattan
The Financial District (often abbreviated “FiDi” and sometimes synonymous with “Wall St.”) is a dense neighborhood at the southern tip of Manhattan. The Financial District is known for its soaring skyscrapers, historic cobblestone streets, pricey luxury apartments, and landmarks like the New York Stock Exchange. The waterfront views and beautiful Battery Park, overlooking the Statue of Liberty, differentiate the neighborhood from anywhere else in NYC.
Residents enjoy easy access to buzzy restaurants and bars and easy short commutes. Living here means dealing with the 9-to-5 hustle on weekdays and tourist crowds on weekends, but the neighborhood has a growing community feel.
History of the Financial District, Manhattan
The Financial District is the oldest part of New York City. The Dutch colonial outpost of New Amsterdam was founded here in 1624. The area remained the bustling civic and commercial center of the growing city as it expanded northward. The South Street Seaport area preserves the neighborhood’s historic role as an early shipping port. FiDi became the center for financial institutions, which clustered close to the the New York Stock Exchange and the Federal Reserve Bank of New York. Through most of the 20th century, the neighborhood was dominated by offices. Yet, in the past two decades the neighborhood has shifted as financial-sector tenants moved out and former office buildings were converted to apartments and condos.
Financial District, Manhattan Demographics
The Financial District is home to about 30,000 residents. There is a significantly higher proportion of the population in their 20s and 30s, and fewer children or older adults, in this neighborhood than the New York City average. The median income in the neighborhood is more than double the city average and there is a much higher proportion of high-income earners.
Transportation in the Financial District, Manhattan
The FiDi has extraordinary transportation options. Almost all of manhattan’s subway lines make multiple stops through the neighborhood. PATH trains and ferries stop here, too. The neighborhood’s ancient, narrow streets are a challenge for drivers, but the neighborhood has easy access to the FDR Drive, West Side Highway, Brooklyn Bridge, and Hugh Carey/Battery Tunnel for easy access to other areas of the city.
Housing in the Financial District, Manhattan
In the dense Financial District, most apartments are in high-rise buildings. In recent decades many of the neighborhood’s older office buildings, including the Woolworth Tower and One Wall St., have been converted to high-end residences. There are also many new residential buildings in the area, notable slender, supertall structures like 57-story One Seaport and 66-story 45 Broad St.
Neighborhood Life in the Financial District, Manhattan
The Financial District has rapidly transformed from a business district to a residential neighborhood. New residents describe a surprisingly community feel among new residents. Residents still contend with crowds of office workers who pack through narrow streets to head to work, lunch, and happy hour, and with tourists and families who visit Battery Park, South St. and Wall St. on weekends. As the residential population has grown, so too has the number of high-end restaurants, bars, and daily amenities in the neighborhood.
Neighborhoods Similar to the Financial District, Manhattan
Financial District Real Estate Trends
Home prices were steadily rising in the Financial District, but have plateaued in the past two years. This follows a citywide trend, though the dip has been less severe in this neighborhood. About 80 percent of home sales in the FInancial District are condos - higher than in most areas of the city - because so many residences are in new or recently-converted condo buildings. Sale and rent prices are lower in FiDi than nearby downtown neighborhoods so potential residents can find deals here.
FiDi Median Sale Price (USD):
Studio 650,000
1bd 1,000,000
2bd 1,795,000
3bd 3,500,000
FiDi Median Rent Price (USD):
Studio 2,900
1bd 4,100
2bd 5,000
3bd 8,000
The Truth You Should Know About the Financial District, Manhattan
How Safe is the Financial District?
Crime rates vary in this area. Most of the Financial District has average or below average crime rates. However, the area between Exchange Pl., State St., and WIlliam St. shows an above-average crime rate. The area is generally well populated - and heavily patrolled - at all hours, though some streets may still be quiet after dark.
Are Schools Good in the Financial District?
The Financial District’s neighborhood schools, Battery Park City School, The Peck Slip School, and Spruce Street School, all rate very well. The neighborhood is also home to several alternative and charter schools, as well as private schools including Léman Manhattan Preparatory School, Pine Street School, and The Lang School.
Popular Eateries in the Financial District?
What To Do in the Financial District, Manhattan?
Take in the views from Battery Park
Sit outside on the cobblestoned streets around South St. Seaport
Take kids to run around and play in Peck Slip Plaza
Ride a ferry to Governors Island
Is the Financial District Dog Friendly, Manhattan?
There are plenty of pet-friendly buildings in the Financial District. The area also boasts several nearby dog parks at South St and Battery Park City. Navigating dogs through the neighborhood’s narrow, crowded streets may be an extra challenge. Some lucky dogs get to take in views from high-rise balconies in FiDi’s skyscrapers.
Is the Financial District Good for Cycling?
The Financial District’s narrow, crowded, and zig-zagging streets can be challenging for biking, though traffic in the neighborhood is rarely moving fast. Connections to the Hudson River and East River Greenways allows for easy rides up the west or east sides of Manhattan. The summertime ferry to Governors Island puts another great recreational cycling destination within easy reach.
4 Things to Know Before Moving to the Financial District, Manhattan
Battery Park’s playgrounds are being rebuilt and expanded into one of the largest play areas in lower Manhattan.
FiDi is one of the fastest growing neighborhood in NYC, including many office to residential conversion projects.
Residents complain of helicopter noise from the nearby Wall St. heliport.
High flood risk along the neighborhood’s waterfront. The shoreline could be artificially extended to protect the neighborhood from coastal flooding and storms.