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Financial District

Financial District
New York, NY 10005
Residential, Sales, Condo, Multifamily

Financial District, also known as FiDi, is a neighborhood on the southern tip of Manhattan. Investment banks, the New York Stock Exchange, and the Federal Reserve Bank of New York, are located there. It is the site of Dutch settlement and has undergone successive transformations of population and urban use since the 17th century. FiDi has become more of a residential neighborhood in contrast to its strictly business character before the 2000s, when it would become deserted at the end of the business day. Precipitated by a recession in the early 1990s, developers converted millions of square feet of commercial space to residential. FiDi condominium-conversions include 40 Pine Street, where condos were carved out of the former offices of Chase Manhattan offices and 15 Broad Street, which Lev Leviev and Shaya Boymelgreen converted to 382 condos from the old JPMorgan Chase headquarters. The New York by Gehry at 8 Spruce Street rises 870 feet and has 898 rentals. Commercial development has also continued, before and after the September 11, 2001 terrorist attacks. Goldman Sachs opened a 43-story headquarters at 200 West Street in 2009 and Silverstein Properties is developing the new World Trade Center complex, including One World Trade Center, on the site of the former Twin Towers. Cond_ Nast, the publisher of Vogue and The New Yorker, has moved into 1 million-square-feet of space at 1WTC, and other media and advertising firms are following suit and moving downtown. -TA

  • Address Financial District
  • neighborhood Financial District
  • borough Manhattan

06/01/2018
That analysis shows that the East Village/Lower East Side, the Far West Side and the Financial District not only have some of the highest levels of inventory, but also have pipelines that are likely to keep ballooning...

12/28/2017
In one important way, condominiums had a banner year in 2017. Though closings were about par for the course and contract volume was nothing toIn one important way, condominiums had a banner year in 2017. Though closings were about par for the course and contract volume was nothing to...

11/06/2017
Clockwise from left: 250 West 57th Street, 1 Liberty Plaza and 135 Madison Avenue There was a noticeable slowdown in office leasing activity in October. Clockwise from left: 250 West 57th Street, 1 Liberty Plaza and 135 Madison Avenue There was a noticeable slowdown in office leasing activity in October....

10/17/2017
Jeff Blau and 50 Hudson Yards (Credit: Foster + Partners) The $1.6 billion in construction financing issued to Related Companies for 50 Hudson Yards was Jeff Blau and 50 Hudson Yards (Credit: Foster + Partners) The $1.6 billion in construction financing issued to Related Companies for 50 Hudson Yards was...

08/03/2017
Clockwise from left: 1 World Trade Center, 55 Hudson Yards and 1 Manhattan West Manhattan office leasing is picking up steam this summer. Activity was Clockwise from left: 1 World Trade Center, 55 Hudson Yards and 1 Manhattan West Manhattan office leasing is picking up steam this summer. Activity was...

08/01/2017
Platinum Properties CEO Khashy Eyn, for example, said he worked with a European investor who bought a 15 William Street penthouse in the Financial District for $2.8 million in 2009 and sold for $4.5 million in 2016...

06/06/2017
There wasn't a tremendous amount of big-ticket office leasing activity in the month of May, but when sizable deals were inked CBRE was usually involved. The commercial brokerage dominated There wasn't a tremendous amount of big-ticket office leasing activity in the month of May, but when sizable deals were inked CBRE was usually involved. The commercial brokerage dominated...

06/01/2017
5 on the new development list with $277.6 million in listings at buildings like Fortis Property Group’s 1 Seaport, a 98-unit tower at 161 Maiden Lane in the Financial District...

01/26/2017
Credit: MNS According to this week's market reports, FiDi saw the city's greatest rent increase in 2016, Dumbo and South Brooklyn led the borough in office Credit: MNS According to this week's market reports, FiDi saw the city's greatest rent increase in 2016, Dumbo and South Brooklyn led the borough in office...

12/30/2016
Clockwise from left: 161 Maiden Lane, 15 Hudson Yards, 70 Vestry Street, 460 West 42nd Street and 90 Morton Street UPDATED, 2:00 p.m., Jan. 3: What Clockwise from left: 161 Maiden Lane, 15 Hudson Yards, 70 Vestry Street, 460 West 42nd Street and 90 Morton Street UPDATED, 2:00 p.m., Jan. 3: What...

12/01/2016
The Financial District stood out as the past year’s outlier, with asking rents rising 20 percent as pricey space in new developments such as the World Trade Center mall hit the market...

10/10/2016
From left: Rendering 66 Hudson Boulevard and 200 Amsterdam Place (inset: From left, Bjarke Ingels and Steven Pozycki) Last month, Tishman Speyer filed plans for the From left: Rendering 66 Hudson Boulevard and 200 Amsterdam Place (inset: From left, Bjarke Ingels and Steven Pozycki) Last month, Tishman Speyer filed plans for the...

09/22/2016
From left: Coach CEO Victor Luis and a rendering of 10 Hudson Yards, WeWork CEO Adam Neumann and 12 East 49th Street Coach once owned From left: Coach CEO Victor Luis and a rendering of 10 Hudson Yards, WeWork CEO Adam Neumann and 12 East 49th Street Coach once owned...

07/01/2016
For the 2015-2016 tax year, TF Cornerstone owed approximately $25.5 million in property taxes across its more than 8,000 apartment portfolio, a figure that would have been closer to $82 million without 421a and other tax exemptions. The company has at least six addresses across Manhattan’s Financial District, Chelsea and Hudson Yards neighborhoods that are currently receiving the 421a benefit and four buildings in Long Island City that owed no property tax at all, together saving TF Cornerstone tens of millions of dollars...

05/01/2016
At Platinum, which scaled back operations two years ago to renew its focus on the Financial District, President Danny Hedaya said business is strong despite a slip in listings from 2015, which he chalked up to TRD‘s one-day snapshot of the firm’s exclusives...

01/06/2016
(credit: Platinum Properties and Halstead Property Development Marketing) According to the latest batch of year-end residential market reports, Manhattan’s luxury market was booming, Downtown saw (credit: Platinum Properties and Halstead Property Development Marketing) According to the latest batch of year-end residential market reports, Manhattan’s luxury market was booming, Downtown saw...

12/01/2015
Leibowitz is in talks with one Financial District landlord about the possibility of repositioning a rental building for condo conversion...

10/22/2015
The third largest permit was for Trinity Real Estate's 74 Trinity Place in the Financial District, where a 25-story, 300,000-square-foot residential and office tower is set to rise...

09/01/2015
Chelsea and Midtown West are each expected to see roughly 2,500 new condos hit the market in the next three years, according to Corcoran Sunshine data, while the Financial District, with roughly 2,000 units, is “coming back with a vengeance,” said Mack...

09/01/2015
That practice repped RXR Realty in its purchase of 32 Old Slip in the Financial District for $478 million, and Murray Hill Properties’ and Clarion Partners’ acquisition of nearby 180 Maiden Lane for $470 million...

08/04/2015
In Manhattan, Urban Muse filed for a nearly 300-foot-tall condo high rise with 163 units at 34 Park Row in the Financial District...

05/01/2015
Engel & Völkers has two listings in the Plaza’s Private Residence totaling $57 million. Big-ticket properties bolstered the brokerages that led this year’s annual ranking Engel & Völkers has two listings in the Plaza’s Private Residence totaling $57 million. Big-ticket properties bolstered the brokerages that led this year’s annual ranking...

11/01/2014
Reuveni’s move to Town helped that firm, founded in 2010, debut at sixth on this year’s list, with 1,590 units spread across nine projects. Town handled leasing on three large Financial District rental properties developed by DTH Capital and the late Ronny Bruckner, with another 200 units set to launch early next year at 20 Exchange Place...

09/01/2014
Tiny Monaco, which is occupied almost entirely by Monte Carlo, is home to the most expensive residential real estate in the world. Can “a real Tiny Monaco, which is occupied almost entirely by Monte Carlo, is home to the most expensive residential real estate in the world. Can “a real...

09/01/2014
From left: the $118.5M penthouse listing at the Ritz Carlton, Israel Englander and his co-op at 740 Park Avenue This year may not be over From left: the $118.5M penthouse listing at the Ritz Carlton, Israel Englander and his co-op at 740 Park Avenue This year may not be over...

...average sales price for residential units in the Financial District was down 12 percent to $1.1 million in the first quarter of 2017, relative to 2016, but median...

...The average price for apartments in the Financial District reached nearly $1.3 million. On the rental side, prices dropped an average of 34 percent from...

...The Financial District saw record high prices in 2015 and a decrease in asking price discounts. Blended sales...

...Rents in the Financial District exceeded $4,000 for the first time, and grew 6 percent from the second quarter. Another notable...

...accounted for 47 percent of all relocations to the Financial District between Q1 2011 and Q1 2015, and are driving up demand for Class A office space...

...Sales of Financial District apartments were stable in Q2 of 2015, although prices fell from the first quarter. The...

...First quarter sales in the Financial District fared well, with prices averaging $1.3 million, an 18 percent year-over-year increase, according to a quarterly...

...quarter of 2015 were in Downtown Manhattan, and the Financial District was the most active neighborhood in the borough.  Nearly 300 units closed or were in...

...exceeded $1 million for the first time in the Financial District. Sales for a FiDi apartment averaged $1.1 million in 2014,  a 10.3 percent increase from the previous...

...from December. Cost increases were highest in the Financial District and SoHo, where rent increased 13 percent to $4,322. View the full report online here. January...