Wall Street has started to move, and that’s quite alright with lower Manhattan. As powerhouse financial firms from Deutsche to BlackRock take their leave, empty spots are quickly being filled by the new crop of teach and creative heavy-weights helping to Downtown shift from quiet financial centre to dynamic, live-able district.
This shift is industry can in part be attributed to purposeful action – New York, oft-cautious of the cyclical boom and bust of the financial industry, has been aggressively wooing tech firms since the 2000s – but in other ways, a natural consequence borne out of two decades of upheaval.