At the southern tip of Manhattan lies the Financial District, which is exactly what it sounds like: a district filled with the offices of finance firms. But that’s not all that you can find here. Many of the area’s offices and loft buildings have been converted to residential apartments and condominiums in recent years, and today the Financial District is a place that many call home – even if they don’t work in finance.
The Financial District (“FiDi”) covers everything in Manhattan to the south of Vesey Street (on the west side of City Hall); south of the Brooklyn Bridge (on the east side of City Hall); and east of West Street. FiDi’s many high-rise buildings are well-known for their amenities. Buyers looking for full-service condo buildings in a downtown neighborhood will find them here, and at a great price compared to full-service condos in other neighborhoods. The neighborhood is perfect for many pied-à-terre buyers as a result.
Like Tribeca, inventory in the neighborhood is made up of mostly condos with few co-op buildings. Unlike Tribeca, the Financial District is affordable by Manhattan standards. The large supply of relatively affordable condos is what makes the FiDi unique.
South Street Seaport
Within the Financial District, to the east of Gold Street and north of John Street, is a mini-neighborhood with a very different character than the rest of the Financial District. It’s called South Street Seaport, and its charming, low-rise buildings, cobblestoned streets, pre-war architecture, and fantastic dining and nightlife options all seem more like side streets in Soho or Meatpacking than the Financial District.
Free-market residential homes are rare in the heart of South Street Seaport, though buyers have many options just outside of its cobblestoned streets. Buyers who can’t quite find what they need in more traditional downtown neighborhoods – such as the Village, Soho, and Tribeca – are strongly encouraged to give South Street Seaport a chance.