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Financial District



  

History


The Financial District is home to many of the leading financial institutions in New York City. Located in the southern borough of Manhattan, the Financial District contains a rich history. Reaching into the past, the Financial District was settled in 1625. During this time, a small group of Dutch settlers established their own business. The business was called the Dutch West India Company. Trade and commerce has had its roots in the Financial District ever since the Dutch West India Company found its beginnings in the district.

In the later 1700s, the city continued growing. George Washington, the first president of the United States, was even inaugurated at a spot located in the Financial District in 1789. New York was actually the designated home of our nation's first capitol, before Washington D.C. It was at Federal Hall, located on Wall Street, where our nation established the federal government and adopted the Bill of Rights.

Wall Street is the heart of the Financial District, where financial transactions first started taking place in 1792. That year, twenty-four stockbrokers and merchants met up to sign the Buttonwood Agreement. This historic gathering marked the creation of the New York Stock Exchange. Ever since that eventful year, Wall Street has served as the meeting place for investors from all around the world. Over $5 billion dollars is traded every day now as a result of the Buttonwood Agreement.

Description


The Financial District is mainly an area for financial business to be conducted and working people to live. Investment bankers comprise a majority of residents in the area. The Seaport/Fulton Street is a sub-division in the Financial District, however, many people regard it as completely separate from the Financial District. Many luxury residential buildings can be discovered in Wall Street and the wider Financial District. That being said, with recent NYU dorm additions there has been a growing market offering affordable rentals to renters. More high rise rental building managers are willing to work with interested renters.

The total area of the Financial District runs from Chamber Street to the southernmost tip of Manhattan. Its other boundaries run from East River to Broadway. Overall, the Financial District is a rather quiet and safe place to live, when compared with other areas of New York such as Brooklyn or Queens. There is also world class shopping and fine dining available in the Financial District. The beautiful architecture found in churches like Trinity Church offer rich culture to the area, along with the performing arts and music scene in the Financial District.

Residents


In Manhattan itself, there are 1,634,795 people living in an area of 23 square miles within the city. Within the Financial District, there are about 56,000 people with residences in this part of Manhattan. Many financial and real estate investors call the Financial District home, along with young professionals seeking to make it big in the city.

Rental Housing


Quite a few luxury high rise buildings adorn the area of the Financial District. However, ever since NYU placed additional dorms in the district, there has been a steady climb in more affordable options for young professionals. Financial District rentals range from $2,000/month being at the lower end of Financial District apartment rentals all the way to $20,000/month for luxury buildings.

Fun Stuff


Going out to dine in the Financial District can be a fun hobby for young professionals seeking to meet up with high class investment bankers. The Fraunces Tavern is a renowned steak-house frequently visited by investment bankers. Wall Street is another great place to visit during the day to see the live action of stock trading take place. Other sights to enjoy include South Street Seaport, Battery Park, and the Woolworth Building.