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Old 07-15-2009, 08:27 PM
 
Location: Boston, MA & Istanbul, Turkey
793 posts, read 1,190,722 times
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I was wondering if anyone could detail if the Financial District is now a good place to live now that there has been an increase in Residential development in the area.

When I lived and worked in NYC I know that I would not have considered living downtown because everything seemed to close after work, has this changed?

I am curious because I have seen quite a few nice developments for decent prices in the area and am considering a possible job transfer in the near future.

Thanks!
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Old 07-15-2009, 08:42 PM
 
Location: Bronx, NY
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I saw a blurb earlier today in the DNY that one of those really metro dudes from that gossip girl show just bought a pad in some really fancy building there, so I'm guessing the area is becoming more trendy.
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Old 07-15-2009, 10:38 PM
 
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Basically its like an abandoned Williamsburg, minus the shops. The area is nothing but office space to condo conversions so it isn't designed to accommodate people living there. There are no grocery stores or other basics in the neighborhood, so naturally the towers that were converted are slowly becoming ghost towers and/or taking the walk of shame into deeply discounted rentals, while the office towers that didn't convert are also emptying out because of an office retreat from the city.

That said I can't possibly recommend living in FiDi, not now. A year from now though, maybe simply because of how cheap the rents/condos will be out of desperation for customers.
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Old 07-16-2009, 05:55 AM
 
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I lived near City Hall ten years ago when the area was much less developed and really enjoyed it. There is a supermarket in the seaport area, one in Battery Park City, and one on Tribeca.
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Old 07-16-2009, 08:14 AM
 
Location: Philadelphia,New Jersey, NYC!
6,967 posts, read 18,204,831 times
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Quote:
Originally Posted by NooYowkur81 View Post
I saw a blurb earlier today in the DNY that one of those really metro dudes from that gossip girl show just bought a pad in some really fancy building there, so I'm guessing the area is becoming more trendy.
lol


i would definitely get a place down there. it's relatively quiet and you're walking distance to the LES, Tribeca & SoHo. what more do you need?
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Old 07-16-2009, 08:29 AM
 
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I've lived in FIDI for 5 years. In that time, there's been a big increase in shops, grocery stores, etc. I have three grocery stores within three blocks.

If you're renting (which I am) you can get good deals by going straight to the building sales offices. When we rented, we had no broker fee and a month free rent. It was a brand new building (not a convert) so none of the weird floorplans you see in a lot of the office converts.

Our building is excellently run, has a pool and a gym and the staff is friendly and helpful. It's also an older crowd than some of the wall street frat houses around. We've really loved it there. They're also pet friendly.

My building is at 10 Liberty Street.

Also, most of the Subway lines converge downtown, so my commute to work has always been easy. If you drive in from a weekend on Long Island, it's a quick shot down the FDR
that said, there is a LOT of construction in the neighborhood... streets getting torn up, etc. This is annoying and a little relentless.

Don't go with a broker if you're renting. Just walk around, look at buildings and see the rental office directly. While many of the brokers will advertise "no fee" they are really just taking the free month rent you would get if you went in alone.

check it out! good luck.
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Old 07-16-2009, 08:50 AM
 
Location: Bronx, NY
9,845 posts, read 22,173,413 times
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Quote:
Originally Posted by ddhboy View Post
Basically its like an abandoned Williamsburg, minus the shops. The area is nothing but office space to condo conversions so it isn't designed to accommodate people living there. There are no grocery stores or other basics in the neighborhood, so naturally the towers that were converted are slowly becoming ghost towers and/or taking the walk of shame into deeply discounted rentals, while the office towers that didn't convert are also emptying out because of an office retreat from the city.

That said I can't possibly recommend living in FiDi, not now. A year from now though, maybe simply because of how cheap the rents/condos will be out of desperation for customers.
I was going to comment about that how it's kinda sad and ironic in a way that it was office space, a lot of it lost due to economic issues, that is now being re-invented into some sort of trendy, vacuous place to live. There is just something really sad and pathetic about it, IMO.
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Old 07-16-2009, 08:50 AM
 
Location: Boston, MA & Istanbul, Turkey
793 posts, read 1,190,722 times
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Thanks alot for the response, I am going to walk around after dark next time in NY and check it out, the buildings really look nice online.
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Old 07-16-2009, 12:09 PM
 
341 posts, read 1,362,796 times
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One more thing. Don't let the rental offices push you into the "application" process before you're ready. Many of them generate income by charging 100 dollar fees for each applicant (200 a couple!)
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Old 07-16-2009, 02:50 PM
 
Location: East Tennessee and Atlanta
3,667 posts, read 8,768,305 times
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Quote:
Originally Posted by ddhboy View Post
Basically its like an abandoned Williamsburg, minus the shops. The area is nothing but office space to condo conversions so it isn't designed to accommodate people living there. There are no grocery stores or other basics in the neighborhood, so naturally the towers that were converted are slowly becoming ghost towers and/or taking the walk of shame into deeply discounted rentals, while the office towers that didn't convert are also emptying out because of an office retreat from the city.

That said I can't possibly recommend living in FiDi, not now. A year from now though, maybe simply because of how cheap the rents/condos will be out of desperation for customers.
I thought there was a Whole Foods now in Battery Park City? I'd give the area 3-4 more years--it's coming along. There are a ton of conversions and new towers going up, and a lot of luxury shops have popped up over the past couple years. One big negative down there is all the World Trade Center construction, and other construction in general.
In such a dense, small area, construction is a nightmare to deal with when living there.
Once 2 or 3 WTC towers are done, the place will be a solid 'hood again.
I've read the area below Chamber has a population of around 55,000 people (like in 2008)--and its projected to go up to 75-80k in the next few yrs. Back in 1970, I remember reading the population was around 2k down there!!
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