"In a real estate market like Manhattan where the inventory is limited, all of a sudden you have an area with so many more housing options that appeal to families," Miller said. "The Financial District was busy from 9 to 5 and a dead zone at night, but it's now a 24-hour neighborhood with a strong family presence."
The Downtown Alliance reports that 19 new developments comprising 8,015 units are scheduled to debut over the next several years, particularly from office-to-residential conversions.
The headliners include 55 Broad, now a 571-unit rental, and 25 Water with 1,300 units, illustrating the shift from business spaces to family-oriented housing.
Once a hub for financial giants, the Financial District has transformed into a lively neighborhood for families, with strollers now taking the place of suits.
#financial-district #housing-development #family-friendly #office-to-residential-conversions #manhattan-real-estate
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