Office Space in Downtown New York City is the most historic part of the city. It was here, in the early 1600’s, where the central business district was formed. Today, the area is the center of the world’s financial market, home to the famed Wall Street, and the New York Stock Exchange. The area features an eclectic blend of modern architecture, and classic gems such as 100 Broadway, one of the oldest, and most beautiful New York City skyscrapers. The area also features some of the largest office buildings in the world, and has an impressive mix of Class A, B & C office rentals available.
Downtown Manhattan was, at one time, the only place in the world to have a dense cluster of tall buildings dotting the skyline. It was a bustling, commercial district and the growth and energy of the streets was legendary. The area became the heart of the city, and in the late 1800’s boasted some of the finest shops and restaurants in the world.
Around 1920, New York’s subway system expanded. Drawn by the lure of newly constructed streets and buildings, many businesses relocated their offices to Midtown. Downtown adapted to the change, and created its own identity, developing a robust financial district. Cultural and iconic neighborhoods also flourished, such as Greenwich Village, China Town, and Little Italy.
The area offers many affordable and flexible office options for businesses. Office space in Downtown Manhattan is especially well suited for financial companies. Not only is it the home of the stock market, it’s also where the New York Federal Reserve bank sits. This is the most important Federal Reserve in America, and it also houses many other nations’ gold reserves. JP Morgan Chase, Goldman Sachs, and AIG are three of the largest financial companies currently located in the district.
Downtown is also home to the city hall district, which makes it a good spot for law firms and insurance companies. All of New York’s city, state, and federal government buildings are in this district, as well as the courts.
Of course, Downtown offers much more than just office space in NYC. It’s also home to Battery Park, and some of the most beautiful and famous historical landmarks. Brooklyn Bridge, St Paul’s Chapel, which was built in the 1800’s, and the Woolworth Building are all located in lower Manhattan.
The area has also become mixed-use. The financial and legal firms could not use many of the older commercial properties, since their wiring was simply not equipped for the modern era. However, due to their status as historical landmarks, they couldn’t be torn down. As a result, they were renovated into luxurious residential properties. The change has created vibrant and diverse neighborhoods in the area, and fueled the rise of restaurants, nightclubs, luxury hotels, and retail establishments.
Downtown is also a major transportation hub. As the saying goes, all roads lead to City Hall. The same is true of the financial district. PATH (Port City Authority of New York and New Jersey) runs several trains through lower Manhattan, and the Staten Island Ferry also services this area.
In recent years, there has been renewed interest in further improving the downtown area, particularly after the tragedy that occurred on 9-11. New waterfront parks have been built, a major new transit hub was created at Fulton Street, and extensive construction of new class A properties are under way. The attractive rents to be found in the area are also helping increase interest there. Though office space in Downtown NYC is not the one-of- a-kind cluster of skyscrapers that it once was, it remains an architectural wonder and a vibrant and attractive location for a business.
