The Financial District: A historic nabe that's as New York as it gets

As 17th century Dutch settlers were enchanted with the pristine nature and advantageous location of what is now the Financial District, so might modern day visitors be drawn to FiDi’s architecture, landmarked buildings and monuments.

All over the Financial District, visitors and residents can witness testaments to three centuries of history.

Before Michael Douglas’ “Wall Street” character Gordon Gekko became a household name, the Financial District served as headquarters for early (nonfictional) financiers such as Secretary of the Treasury Alexander Hamilton, who is buried at Trinity Church.

Trinity Church is one of many historical sites here. The first construction was completed in 1698, but the current church, built in 1846, is a National Historical Landmark in part due to its Gothic Revival architecture, according to the church’s website.

Other important landmarks include the Castle Clinton National Monument, the New York Stock Exchange and Federal Hall National Memorial.

Built in preparation for the War of 1812 on the southern end of Battery Park, Castle Clinton previously served as an entertainment center, immigration depot and aquarium. Today, more than three million visitors stop by annually.

Symbolizing the hub of American finance, the New York Stock Exchange building is noted for its neoclassical style and six Corinthian columns, though the hectic trading floor inside is closed to the public post-9/11.

The Federal Hall National Memorial is a museum, paying homage to its history as the nation’s first Congress, Supreme Court and executive branch headquarters.
Long gone are the days of FiDi clearing out come 6 p.m. Instead, eateries for every budget and a diverse range of bars dot the nabe.

Delmonico’s, an acclaimed FiDi mainstay, serves classic Italian-American steakhouse staples, but the charm of the old-world is sometimes lost among the overwhelming crowds and exorbitant pricing.

MarkJoseph Steakhouse prides itself on its high-quality steak and seafood, and is more budget-friendly.

Between the historical setting and bustling nightlife, the Financial District is a popular place to live.

“There are a lot of newer buildinggs — which often have tax abatements — and they have all of the amenities you could want,” said Christine Ra, president of brokerage firm Ra Partners. “Full-service, with lounges, decks, gyms, some have children’s playrooms or pools. Plus there are many buildings with unobstructed views of the water, Statue of Liberty and World Trade Center memorial.”

Terry Lautin, a broker at the real estate firm Town Residential, has worked in the Financial District for 15 years.

“Down here, it’s almost all condo, and the conversions are fairly recent, making the finishes newer and more appealing to buyers,” Lautin said. “Condominium ownership works for a larger section of the market than co-op, as the approval process is more transparent, and condos give an owner the ability to rent the property ... ”

Either way, in the Financial District there is an option for any type of resident.

“Ten years ago there were just a few residential projects to show buyers in FiDi,” said Lautin. “And now there are dozens.”

The Westfield Group is constructing a retail center in the new World Trade Center, slated to open in 2015.

The 350,000-square-foot concourse will include five levels — two below-ground — leased to roughly 150 different stores, according to published reports.

The cost of the deal, a joint venture between Westfield and the Port Authority of New York and New Jersey, was $1.25 billion, according to Reuters.

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Here Travers dishes about changes in the nabe, saying, “the future feels really bright for the Financial District.”