The Financial District has become one of the hottest housing markets in NYC, with 14 new or under construction/planned condo developments in the pipeline.
The neighbourhood has been transformed over the last seven years. The World Trade Center is largely complete, except for Tower 2, and the Seaport district within the larger FiDi neighbourhood has been completely revitalised since Hurricane Sandy destroyed much of the infrastructure.
The neighbourhood now is home to world-class restaurants, shopping and a growing nightlife scene. There are shops and restaurants at Brookfield Place, the Oculus at the World Trade Center, and the Seaport. Eataly, a large format Italian marketplace, also recently opened at the World Trade Center.
One major draw of the neighbourhood is its easy access to mass transit, especially the subway system, as many lines converge in Lower Manhattan.
Condos make up the overwhelming majority of housing stock in the Financial District. Properties here have an average price of $1,477,499.
The market, while growing, is experiencing an oversupply of housing units, resulting in an average discount of 16 per cent from initial list to final sale price. This is the highest discount rate across Manhattan.
The Bailey Pub & Brasserie has become a staple in the neighbourhood. Located one block from Wall Street and two blocks from the Stock Exchange, the restaurant/bar caters to business professionals and tourists alike. It has a 60ft bar, one of the longest in the neighbourhood.
The National Museum of the American Indian also has a branch in the neighbourhood, housed in the Alexander Hamilton US Custom House on Bowling Green. Not only can you experience the exhibits, but also the architecture of the building itself, which was designed by Cass Gilbert, who went on to design the Woolworth Building.