Lower Manhattan’s Asian boom

New census data shows that the Asian population of all neighborhoods south of Canal Street has grown 35 percent over the past five years, and that East and South Asians account for almost a third of downtown’s population. “My building is largely Asian, and I have no idea why,” says John Provenzano, who lives at 63 Wall Street. “I thought it was surprising when I moved in. But it’s normal on my block. It’s mostly young Chinese and Koreans.” Some city officials and real estate experts speculate that the boom is driven by factors such as the Financial District’s increasing number of Asian workers; a propensity among Chinese residents to want to buy condos; and the allure of the area’s proximity to nightlife. more [New York]