82-527: Zuccotti Park (formerly Liberty Plaza Park ) is a 33,000-square-foot (3,100 m) publicly accessible park in the Financial District of Lower Manhattan in New York City . It is located in a privately owned public space (POPS) controlled by Brookfield Properties and Goldman Sachs . Zuccotti Park is bounded by Broadway to the east, Liberty Street to the north, Trinity Place to
164-612: A Con Edison plant. With mass transit in New York City already suspended as a precaution even before the storm hit, the New York Stock Exchange and other financial exchanges were closed for two days, re-opening on October 31. From 2013 to 2021, nearly two hundred buildings in the Financial District were converted to residential use. Furthermore, between 2001 and 2021, the proportion of companies in
246-601: A powerful bomb exploded . It killed 38 and seriously injured 143 people. The area was subjected to numerous threats; one bomb threat in 1921 led to detectives sealing off the area to "prevent a repetition of the Wall Street bomb explosion". During most of the 20th century, the Financial District was a business community with practically only offices which emptied out at night. Writing in The Death and Life of Great American Cities in 1961, urbanist Jane Jacobs described
328-581: A "deathlike stillness that settles on the district after 5:30 and all day Saturday and Sunday". But there has been a change towards greater residential use of the area, pushed forwards by technological changes and shifting market conditions. The general pattern is for several hundred thousand workers to commute into the area during the day, sometimes by sharing a taxicab from other parts of the city as well as from New Jersey and Long Island , and then leave at night. In 1970 only 833 people lived "south of Chambers Street"; by 1990, 13,782 people were residents with
410-694: A Blackout Action Center at the New York City Police Department headquarters. The blackout resulted in raw sewage washing up on beaches and spoiled food in hundreds or thousands of restaurants around the city. After a chaotic four years as mayor, Beame ran for a second term in 1977, and finished third in the Democratic primary , behind Representative Ed Koch and New York Secretary of State Mario Cuomo , and ahead of former Representative Bella Abzug , Representative Herman Badillo and Manhattan Borough President Percy Sutton . He
492-612: A crane collapse. One report divided lower Manhattan into three basic districts: Federal Hall National Memorial , on the site of the first U.S. capitol and the first inauguration of George Washington as the first President of the United States , is located at the corner of Wall Street and Nassau Street . The Financial District has a number of tourist attractions such as the South Street Seaport Historic District, newly renovated Pier 17,
574-479: A downturn with a sizable drop in year-end bonuses of $ 6.5 billion, according to one estimate from a state comptroller's office. To guard against a vehicular bombing in the area, authorities built concrete barriers, and found ways over time to make them more aesthetically appealing by spending $ 5000 to $ 8000 apiece on bollards . Several streets in the neighborhood, including Wall and Broad Streets, were blocked off by specially designed bollards: Rogers Marvel designed
656-424: A fifth of buildings and warehouses were empty, and many were converted to living areas. Some conversions met with problems, such as aging gargoyles on building exteriors having to be expensively restored to meet with current building codes. Residents in the area have sought to have a supermarket, a movie theater, a pharmacy, more schools, and a "good diner". The discount retailer named Job Lot used to be located at
738-425: A height bonus for an adjacent building at the time of its construction. The structure, One Liberty Plaza , replaced the demolished Singer Building and City Investing Building . The park is home to a signpost for Temple Street, a "ghost street" which appeared on Manhattan maps as early as 1695, but was redeveloped out of existence by the early 1970s. The park was one of the few open spaces with tables and seats in
820-432: A loan, inspiring the legendary Daily News headline "Ford to City: Drop Dead", but Ford later approved federal support for New York. On the evening of July 13, 1977, a massive power failure hit the city. With temperatures in the mid-nineties Fahrenheit and the humidity high, New Yorkers sweltered. By the time power was restored at 10:39 p.m. the next night, the city had been without power for 25 hours. Beame set up
902-744: A lower crime rate than in the 1990s, with crimes across all categories having decreased by 86.3% between 1990 and 2018. The precinct reported 1 murder, 23 rapes, 80 robberies, 61 felony assaults, 85 burglaries, 1,085 grand larcenies, and 21 grand larcenies auto in 2018. The Financial District is served by three New York City Fire Department (FDNY) fire stations: As of 2018 , preterm births and births to teenage mothers are less common in Financial District and Lower Manhattan than in other places citywide. In Financial District and Lower Manhattan, there were 77 preterm births per 1,000 live births (compared to 87 per 1,000 citywide), and 2.2 teenage births per 1,000 live births (compared to 19.3 per 1,000 citywide), though
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#1732780663048984-473: A neighborhood, a community." During the past two decades there has been a shift towards greater residential living areas in the Financial District, with incentives from city authorities in some instances. Many empty office buildings have been converted to lofts and apartments; for example, the Liberty Tower , the office building of oil magnate Harry Sinclair , was converted to a co-op in 1979. In 1996,
1066-566: A new kind of bollard, a faceted piece of sculpture whose broad, slanting surfaces offer people a place to sit in contrast to the typical bollard, which is supremely unsittable. The bollard, which is called the Nogo, looks a bit like one of Frank Gehry's unorthodox culture palaces, but it is hardly insensitive to its surroundings. Its bronze surfaces actually echo the grand doorways of Wall Street's temples of commerce. Pedestrians easily slip through groups of them as they make their way onto Wall Street from
1148-566: A provincial extension of the Dutch Republic and was designated as the capital of the province of New Netherland in 1625. By 1655, the population of New Netherland had grown to 2,000 people, with 1,500 living in New Amsterdam. By 1664, the population of New Netherland had skyrocketed to almost 9,000 people, 2,500 of whom lived in New Amsterdam, 1,000 lived near Fort Orange , and the remainder in other towns and villages. In 1664
1230-653: A second estimate (based on the 2000 census based on a different map) places the residential population in 2000 at 12,042. By 2001 there were several grocery stores, dry cleaners, and two grade schools and a top high school. In 2001, the Big Board , as some termed the NYSE, was described as the world's "largest and most prestigious stock market". When the World Trade Center was destroyed on September 11, 2001 , it left an architectural void as new developments since
1312-481: A single lane of traffic are bordered on both sides by some of the tallest buildings in the city", according to one description, which creates "breathtaking artificial canyons". Some streets have been designated as pedestrian-only with vehicular traffic prohibited. The Financial District is a major location of tourism in New York City . One report described Lower Manhattan as "swarming with camera-carrying tourists". Tour guides highlight places such as Trinity Church ,
1394-678: A troupe of 22 dancers "contort their bodies and cram themselves into the nooks and crannies of the Financial District in Bodies in Urban Spaces " choreographed by Willi Donner. One chief attraction, the Federal Reserve, paid $ 750,000 to open a visitors' gallery in 1997. The New York Stock Exchange and the American Stock Exchange also spent money in the late 1990s to upgrade facilities for visitors. Attractions include
1476-708: A visual landmark for drivers and pedestrians. In some respects, the nexus of the Financial District moved physically from Wall Street to the World Trade Center complex and surrounding buildings such as the Deutsche Bank Building , 90 West Street , and One Liberty Plaza . Real estate growth during the latter part of the 1990s was significant, with deals and new projects happening in the Financial District and elsewhere in Manhattan; one firm invested more than $ 24 billion in various projects, many in
1558-488: Is NewYork-Presbyterian Lower Manhattan Hospital in the Civic Center area. Abe Beame Abraham David Beame ( né Birnbaum ; March 20, 1906 – February 10, 2001) was an American accountant, investor, and Democratic Party politician who was the 104th mayor of New York City , in office from 1974 to 1977. As mayor, he presided over the city during the 1975 New York City fiscal crisis , when
1640-406: Is 0.0096 mg/m (9.6 × 10 oz/cu ft), more than the city average. Sixteen percent of Financial District and Lower Manhattan residents are smokers , which is more than the city average of 14% of residents being smokers. In Financial District and Lower Manhattan, 4% of residents are obese , 3% are diabetic , and 15% have high blood pressure , the lowest rates in the city—compared to
1722-553: Is also home to the Brookfield Place (formerly World Financial Center). Another key anchor for the area is the New York Stock Exchange . City authorities realize its importance, and believed that it has "outgrown its neoclassical temple at the corner of Wall and Broad streets", and in 1998 offered substantial tax incentives to try to keep it in the Financial District. Plans to rebuild it were delayed by
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#17327806630481804-691: Is now a 1,776 ft (541 m) tall structure, opened in 2014 as the One World Trade Center . Fulton Center , a new transit complex intended to improve access to the area, opened in 2014, followed by the World Trade Center Transportation Hub in 2016. Additionally, in 2007, the Maharishi Global Financial Capital of New York opened headquarters at 70 Broad Street near the NYSE, in an effort to seek investors. By
1886-560: Is part of Manhattan Community Board 1 , which also includes five other neighborhoods ( Battery Park City , Civic Center , Greenwich South , Seaport , and Tribeca ). The streets in the area were laid out as part of the Castello Plan prior to the Commissioners' Plan of 1811 , a grid plan that dictates the placement of most of Manhattan's streets north of Houston Street . Thus, it has small streets "barely wide enough for
1968-456: Is well-suited for tall buildings, with a solid mass of bedrock underneath Manhattan providing a firm foundation for tall buildings. Skyscrapers are expensive to build, but the scarcity of land in the Financial District made it suitable for the construction of skyscrapers. Business writer John Brooks in his book Once in Golconda considered the start of the 20th century period to have been
2050-472: The 1973 mayoral election , becoming the 104th mayor of New York City. Beame was the city's first Jewish mayor. He entered office facing the worst fiscal crisis in the city's history and spent most of his term attempting to ward off bankruptcy. Soon after being sworn in as mayor, Beame slashed the city workforce, froze salaries, and reconfigured the budget, which proved unsatisfactory until reinforced by actions from newly created state-sponsored entities and
2132-634: The City College of New York 's School of Business and Civic Administration (spun off as Baruch College in 1968), where he received his undergraduate degree in business with honors in 1928. While in college, Beame co-founded an accounting firm, Beame & Greidinger. He was an accounting teacher at Richmond Hill High School in Queens from 1929 to 1946 and also taught accounting and commercial law at Rutgers University from 1944 to 1945. From 1952 to 1961, Beame served as New York City's director of
2214-483: The Federal Reserve Bank of New York . Anchored on Wall Street in the Financial District, New York City has been called both the leading financial center and the most economically powerful city of the world, and the New York Stock Exchange is the world's largest stock exchange by total market capitalization . Several other major exchanges have or had headquarters in the Financial District, including
2296-529: The Federal Reserve Bank of New York Building gold vaults 80 feet below street level (worth $ 100 billion), and the New York Stock Exchange Building . A Scoundrels of Wall Street Tour is a walking historical tour which includes a museum visit and discussion of various financiers "who were adept at finding ways around finance laws or loopholes through them". Occasionally artists make impromptu performances; for example, in 2010,
2378-559: The Financial District . Located one block from the World Trade Center , it was covered with debris, and subsequently used as a staging area for the recovery efforts after the destruction of the World Trade Center on September 11, 2001. As part of the Lower Manhattan rebuilding efforts, the park was regraded, trees were planted, and the tables and seating restored. Those who were working in the Zuccotti Park staging area of
2460-808: The New York City Police Museum , the Museum of American Finance , the National Museum of the American Indian , Trinity Church , St. Paul's Chapel , and the famous bull . Bowling Green is the starting point of traditional ticker-tape parades on Broadway , where here it is also known as the Canyon of Heroes . The Museum of Jewish Heritage and the Skyscraper Museum are both in adjacent Battery Park City which
2542-761: The New York Mercantile Exchange , NASDAQ , the New York Board of Trade , and the former American Stock Exchange . The Financial District is part of Manhattan Community District 1 , and its primary ZIP Codes are 10004, 10005, 10006, 10007, and 10038. It is patrolled by the 1st Precinct of the New York City Police Department . The Financial District encompasses roughly the area south of City Hall Park in Lower Manhattan but excludes Battery Park and Battery Park City . The former World Trade Center complex
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2624-760: The Sons of Liberty , a huge crowd assembled outside the coffee house to denounce the Tea Act , and agents of the East India Trading Company who were handling cargoes of dutied tea. It was perhaps the first public demonstration in opposition to the Tea Act in the American colonies. The park was created in 1968 or the early 1970s by Pittsburgh -based United States Steel , after the property owners negotiated its creation with city officials, in return for
2706-531: The Storm King Art Center . Benjamin Genocchio , an Australian then-New York-based art critic, commented that the sculpture suited the location, "nicely echoing the skyscrapers around it." The other sculpture is Double Check , depicting a bronze businessman sitting on a bench, by John Seward Johnson II . The park formerly had a third sculpture: Rose III by Isa Genzken , installed in 2018 at
2788-570: The gold vault beneath the Federal Reserve and that "staring down at the trading floor was as exciting as going to the Statue of Liberty ". The Financial District's architecture is generally rooted in the Gilded Age , though there are also some art deco influences in the neighborhood. The area is distinguished by narrow streets, a steep topography, and high-rises Construction in such narrow steep areas has resulted in occasional accidents such as
2870-411: The 1970s had played off the complex aesthetically. The attacks "crippled" the communications network. One estimate was that 45% of the neighborhood's "best office space" had been lost. The physical destruction was immense: Debris littered some streets of the financial district. National Guard members in camouflage uniforms manned checkpoints. Abandoned coffee carts, glazed with dust from the collapse of
2952-478: The 20,088 counted in 2000 . Covering an area of 479.77 acres (194.16 ha), the neighborhood had a population density of 82.7/acre (52,900/sq mi; 20,400/km ). The racial makeup of the neighborhood was 65.4% (25,965) White , 3.2% (1,288) African American , 0.1% (35) Native American , 20.2% (8,016) Asian , 0.0% (17) Pacific Islander , 0.4% (153) from other races , and 3.0% (1,170) from two or more races. Hispanic or Latino of any race were 7.7% (3,055) of
3034-561: The 2010s, the Financial District had become established as a residential and commercial neighborhood. Several new skyscrapers such as 125 Greenwich Street and 130 William were being developed, while other structures such as 1 Wall Street , the Equitable Building , and the Woolworth Building were extensively renovated. Additionally, there were more signs of dogwalkers at night and a 24-hour neighborhood, although
3116-473: The Battery. The Bowling Green area was described as "Wall Street's back yard " with poor people, high infant mortality rates, and the "worst housing conditions in the city". As a result of the construction, looking at New York City from the east, one can see two distinct clumps of tall buildings—the Financial District on the left, and the taller Midtown neighborhood on the right. The geology of Manhattan
3198-610: The Brooklyn Bridge: The following landmarks apply to multiple distinct areas: What is now the Financial District was once part of New Amsterdam , situated on the strategic southern tip of the island of Manhattan. New Amsterdam was derived from Fort Amsterdam , meant to defend the fur trade operations of the Dutch West India Company in the North River ( Hudson River ). In 1624, it became
3280-596: The English took over New Amsterdam and renamed it New York City. In the late 19th and early 20th centuries, the corporate culture of New York was a primary center for the construction of early skyscrapers , and was rivaled only by Chicago on the American continent. There were also residential sections, such as the Bowling Green section between Broadway and the Hudson River , and between Vesey Street and
3362-565: The Financial District can have one of several types of official landmark designations: The following landmarks are situated south of Morris Street and west of Whitehall Street/Broadway: The following landmarks are located west of Broadway between Morris and Barclay Streets: The following landmarks are located south of Wall Street and east of Broadway/Whitehall Street: The following landmarks are located east of Broadway between Wall Street and Maiden Lane: The following landmarks are located east of Broadway and Park Row between Maiden Lane and
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3444-519: The Financial District to more affordable locations. The recession of 1990–91 was marked by office vacancy rates downtown which were "persistently high" and with some buildings "standing empty". In 1995, city authorities offered the Lower Manhattan Revitalization Plan which offered incentives to convert commercial properties to residential use. According to one description in 1996, "The area dies at night ... It needs
3526-544: The Madison Club, including attorney/fundraiser Abraham "Bunny" Lindenbaum and Steingut's son, Stanley , frequently liaised with real estate developer Fred Trump . The club also played a decisive role in the political ascent of Park Slope –based attorney Hugh Carey , whose tenure as governor of New York coincided with Beame's administration, though Carey eventually broke with the organization by endorsing Mario Cuomo 's 1977 primary bid to unseat Beame. In 1965, Beame
3608-519: The September 11, 2001, attacks. The Exchange still occupies the same site. The Exchange is the locus for a large amount of technology and data. For example, to accommodate the three thousand persons who work directly on the Exchange floor requires 3,500 kilowatts of electricity, along with 8,000 phone circuits on the trading floor alone, and 200 miles of fiber-optic cable below ground. Buildings in
3690-568: The Townsend Harris medal in 1957, and awards from numerous charitable, religious and civic organizations. Beame experienced heart problems in his later years. He had heart attacks in 1991 and 2000. After the second, he was admitted to New York University Medical Center , where he remained for the last months of his life. He underwent open-heart surgery in August and December 2000, and died from surgical complications on February 10, 2001, at
3772-640: The Wall Street area. In 1998, the NYSE and the city struck a $ 900 million deal which kept the NYSE from moving across the river to Jersey City ; the deal was described as the "largest in city history to prevent a corporation from leaving town". A competitor to the NYSE, NASDAQ , moved its headquarters from Washington to New York. In 1987, the stock market plunged and, in the relatively brief recession following, lower Manhattan lost 100,000 jobs according to one estimate. Since telecommunications costs were coming down, banks and brokerage firms could move away from
3854-420: The World Trade Center but moved to Church Street; merchants bought extra unsold items at steep prices and sold them as a discount to consumers, and shoppers included "thrifty homemakers and browsing retirees" who "rubbed elbows with City Hall workers and Wall Street executives"; but the firm went bust in 1993. There were reports that the number of residents increased by 60% during the 1990s to about 25,000 although
3936-402: The World Trade Center, lay on their sides across sidewalks. Most subway stations were closed, most lights were still off, most telephones did not work, and only a handful of people walked in the narrow canyons of Wall Street yesterday morning. Still, the NYSE was determined to re-open on September 17, almost a week after the attack. After September 11, the financial services industry went through
4018-531: The addition of areas such as Battery Park City and Southbridge Towers . Battery Park City was built on 92 acres of landfill, and 3,000 people moved there beginning about 1982, but by 1986 there was evidence of more shops and stores and a park, along with plans for more residential development. Construction of the World Trade Center began in 1966, but the World Trade Center had trouble attracting tenants when completed. Nonetheless, some substantial firms purchased space there. Its impressive height helped make it
4100-646: The ages of 25–44, while 14% are between 0–17, and 18% between 45–64. The ratio of college-aged and elderly residents was lower, at 11% and 7% respectively. As of 2017, the median household income in Community Districts 1 and 2 (including Greenwich Village and SoHo ) was $ 144,878. In 2018, an estimated 9% of Financial District and Lower Manhattan residents lived in poverty, compared to 14% in all of Manhattan and 20% in all of New York City. One in twenty-five residents (4%) were unemployed, compared to 7% in Manhattan and 9% in New York City. Rent burden, or
4182-406: The area around historic Trinity Church. Cars, however, cannot pass. The destruction of the World Trade Center spurred development on a scale that had not been seen in decades. Tax incentives provided by federal, state and local governments encouraged development. A new World Trade Center complex centered on Daniel Libeskind 's Memory Foundations was after the 9/11 attacks. The centerpiece, which
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#17327806630484264-420: The area that were in the finance and insurance industries declined from 55 to 30 percent. For census purposes, the New York City government classifies the Financial District as part of a larger neighborhood tabulation area called Battery Park City-Lower Manhattan. Based on data from the 2010 United States Census , the population of Battery Park City-Lower Manhattan was 39,699, an increase of 19,611 (97.6%) from
4346-446: The area with floodlights and began to clear out the park. Tents, tarps, and other forms of shelters were immediately removed, but protesters began to resist being driven out of the park. This led to the pepper-spraying and detainment of some protesters. After the park was reopened to the public, it was made known that protesters were still permitted to exercise their civil rights , but that this did not include sleeping and camping out at
4428-466: The area's heyday. The address of 23 Wall Street , the headquarters of J. P. Morgan & Company , known as The Corner , was "the precise center, geographical as well as metaphorical, of financial America and even of the financial world". On September 16, 1920, close to the corner of Wall and Broad Street , the busiest corner of the Financial District and across the offices of the Morgan Bank ,
4510-654: The borough's equivalent of Manhattan's Tammany Hall and the locus of New York patronage politics following the ascent of Meade Esposito , as opposed to the policy-oriented "reform" Democrats who entered New York City politics, most effectively in Manhattan and the Bronx in the 1950s. Before being elected to two nonconsecutive terms as city comptroller in 1961 and 1969, he was a longstanding member of Crown Heights 's influential Madison Democratic Club and served as political boss Irwin Steingut 's personal accountant. Members of
4592-466: The budget, having also served as assistant director from 1946 to 1952. In this capacity, he "negotiated all city labor contracts without a strike and kept books on city spending and borrowing; he also set up management programs that saved the city $ 40 million." Beame was a "clubhouse" or machine politician , a product of the Brooklyn wing of the patronage-oriented "regular" Democratic organization,
4674-523: The city was almost forced to declare bankruptcy. Beame was born Abraham David Birnbaum in London. His parents were Esther (née Goldfarb) and Philip Birnbaum, Jewish immigrants from Poland who fled Warsaw . Beame and his family left England when he was three months old. He was raised on New York City's Lower East Side . He graduated from P.S. 160 and the High School of Commerce before enrolling at
4756-421: The city. By 2010 the residential population had increased to 24,400 residents. and the area was growing with luxury high-end apartments and upscale retailers. On October 29, 2012, New York and New Jersey were inundated by Hurricane Sandy . Its 14-foot-high storm surge, a local record, caused massive street flooding in many parts of Lower Manhattan. Power to the area was knocked out by a transformer explosion at
4838-538: The citywide averages of 24%, 11%, and 28% respectively. In addition, 5% of children are obese, the lowest rate in the city, compared to the citywide average of 20%. Ninety-six percent of residents eat some fruits and vegetables every day, which is more than the city's average of 87%. In 2018, 88% of residents described their health as "good", "very good", or "excellent", more than the city's average of 78%. For every supermarket in Financial District and Lower Manhattan, there are 6 bodegas . The nearest major hospital
4920-540: The early 20th century as the Insurance District, due to the large number of insurance companies that were either headquartered there, or maintained their New York offices there. Although the term is sometimes used as a synonym for Wall Street , the latter term is often applied metonymously to the financial markets as a whole (and is also a street in the district), whereas "the Financial District" implies an actual geographical location. The Financial District
5002-474: The general pattern of crowds during the working hours and emptiness at night was still apparent. There were also ten hotels and thirteen museums in 2010. In 2007 the French fashion retailer Hermès opened a store in the Financial District to sell items such as a "$ 4,700 custom-made leather dressage saddle or a $ 47,000 limited edition alligator briefcase". However, there are reports of panhandlers like elsewhere in
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#17327806630485084-446: The granting of federal funds. In October 1975, the city of New York was in debt of $ 453 million. Beame made a statement on October 17 that the city had insufficient cash on hand to meet its debt obligations for that day. He added that New York City citizens needed to take immediate steps to protect the city's essential life support systems and to preserve their well-being. President Gerald Ford at first turned down New York's request for
5166-416: The ground, which illuminate the area. With its proximity to Ground Zero, Zuccotti Park is a popular tourist destination. The World Trade Center cross , which was previously housed at St. Peter's Roman Catholic Church , was featured in a ceremony held in Zuccotti Park before it was moved to the 9/11 Memorial. The park won the 2008 American Institute of Architects Honor Award for Regional and Urban Design and
5248-594: The neighborhood is in the 61st, 65th, and 66th districts, represented respectively by Charles Fall , Grace Lee , and Deborah Glick . Politically, the Financial District in New York's 10th congressional district ; as of 2022 , it is represented by Dan Goldman . Financial District and Lower Manhattan are patrolled by the 1st Precinct of the NYPD , located at 16 Ericsson Place. The 1st Precinct ranked 63rd safest out of 69 patrol areas for per-capita crime in 2010. Though
5330-543: The northwest corner of the park. Notes Bibliography Financial District, Manhattan The Financial District of Lower Manhattan , also known as FiDi , is a neighborhood located on the southern tip of Manhattan in New York City . It is bounded by the West Side Highway on the west, Chambers Street and City Hall Park on the north, Brooklyn Bridge on the northeast, the East River to
5412-414: The number of crimes is low compared to other NYPD precincts, the residential population is also much lower. As of 2018 , with a non-fatal assault rate of 24 per 100,000 people, Financial District and Lower Manhattan's rate of violent crimes per capita is less than that of the city as a whole. The incarceration rate of 152 per 100,000 people is lower than that of the city as a whole. The 1st Precinct has
5494-449: The park reopened after an $ 8 million renovation designed by Cooper, Robertson & Partners . It was renamed Zuccotti Park in honor of John E. Zuccotti , former City Planning Commission chairman and first deputy mayor under Abe Beame and the then-chairman of Brookfield Properties, which used private money to renovate the park. Currently, the park has a wide variety of trees, granite sidewalks, tables and seats, as well as lights built into
5576-469: The park. Some protesters attempted to remain at the site after this, which led to continuing conflict with the police. After the complete eviction of the protesters from the park, they rallied again and attempted to take over other locations. The park is home to two sculptures. Joie de Vivre by Mark di Suvero , a 70-foot-tall sculpture consisting of bright-red beams, was installed in Zuccotti Park in 2006, having been moved from its previous installation in
5658-496: The percentage of residents who have difficulty paying their rent, is 38% in Financial District and Lower Manhattan, compared to the boroughwide and citywide rates of 45% and 51% respectively. Based on this calculation, as of 2018 , Financial District and Lower Manhattan are considered high-income relative to the rest of the city and not gentrifying . The population of the Financial District has grown to an estimated 61,000 residents as of 2018, up from 43,000 as of 2014, which in turn
5740-404: The plaza and used it as a staging ground for their protests throughout the Financial District. The site was the location of the first coffeehouse in colonial New York City, The King's Arms which opened under the ownership of Lieutenant John Hutchins in 1696. It stood on the west side of Broadway between Crown (now Liberty) Street and Little Queen (now Cedar) Street. On November 5, 1773, summoned by
5822-428: The population. The entirety of Community District 1, which comprises the Financial District and other Lower Manhattan neighborhoods, had 63,383 inhabitants as of NYC Health 's 2018 Community Health Profile, with an average life expectancy of 85.8 years. This is higher than the median life expectancy of 81.2 for all New York City neighborhoods. Most inhabitants are young to middle-aged adults: half (50%) are between
5904-463: The recovery efforts, along with those who were living and working South of Houston Street in the months after the 9/11 attacks, have continued to develop cancers and other illnesses, for which they can seek compensation through the 9/11 Victim Compensation Fund . Located near Zuccotti Park is the law firm of Pitta & Baione LLP , which serves as a local office for those who were impacted by these events and are seeking legal recourse. On June 1, 2006,
5986-476: The southeast, and South Ferry and the Battery on the south. The City of New York was created in the modern-day Financial District in 1624, and the neighborhood roughly overlaps with the boundaries of the New Amsterdam settlement in the late 17th century. The district comprises the offices and headquarters of many of the city's major financial institutions , including the New York Stock Exchange and
6068-439: The teenage birth rate is based on a small sample size. Financial District and Lower Manhattan have a low population of residents who are uninsured . In 2018, this population of uninsured residents was estimated to be 4%, less than the citywide rate of 12%, though this was based on a small sample size. The concentration of fine particulate matter , the deadliest type of air pollutant , in Financial District and Lower Manhattan
6150-438: The west, and Cedar Street to the south. The park was created in 1968 by Pittsburgh -based United States Steel , after the property owners negotiated its creation with city officials. It was named Liberty Plaza Park because it was situated one block south of One Liberty Plaza . The park's northwest corner is across the street from Four World Trade Center . It has been popular with local tourists and financial workers. The park
6232-563: Was featured in Architectural Record and International New Architecture magazines. During the Occupy Wall Street movement, many protesters inhabited Zuccotti Park and spent their days and nights there, despite park rules prohibiting staying overnight. Attempts were made by the NYPD to disperse the protesters, but not until November 15, 2011, were they substantially evicted. At that time, police officers lit up
6314-495: Was heavily damaged in the September 11 attacks and subsequent recovery efforts of 2001. The plaza was later used as the site of several events commemorating the anniversary of the attacks. After renovations in 2006, the park was renamed by its current owners, Brookfield Properties , after company chairman John Zuccotti . In 2011, the plaza became the site of the Occupy Wall Street protest camp , during which activists occupied
6396-406: Was located in the neighborhood until the September 11, 2001, attacks ; the neighborhood includes the successor One World Trade Center . The heart of the Financial District is often considered to be the corner of Wall Street and Broad Street , both of which are contained entirely within the district. The northeastern part of the Financial District (along Fulton Street and John Street) was known in
6478-764: Was married to his childhood sweetheart, Mary (née Ingerman), for 67 years. They met when Beame was 15, playing checkers at the University Settlement Society of New York . They raised two sons, Edmond and Bernard (Buddy), and lived in Brooklyn, first in Crown Heights and later in a "modest" apartment on Plaza Street West in Park Slope. Throughout his life, Beame summered in the Rockaway neighborhood of Belle Harbor . Beame received
6560-661: Was nearly double the 23,000 recorded at the 2000 Census. In the New York City Council , the Financial District is part of District 1 , represented by Democrat Christopher Marte . List of aldermen /councilmen who have represented the Financial District The Financial District is part of New York's 27th State Senate district , represented by Brian P. Kavanagh . In the New York State Assembly ,
6642-573: Was succeeded by Koch, who won the general election on November 8, 1977 . When Beame left office on January 1, 1978, the city budget had a surplus of $ 200 million. There was a $ 1.5 billion deficit when Beame took office. A 1993 survey of historians, political scientists and urban experts by Melvin G. Holli of the University of Illinois at Chicago ranked Beame as the 14th-worst American big-city mayor to serve between 1820 and 1993. Beame worked in investment advising after leaving office. Beame
6724-549: Was the Democratic nominee for mayor of New York City. Edward N. Costikyan was his campaign manager and James Farley his campaign chair. Despite having Senator Robert F. Kennedy 's strong support, Beame lost to the Republican nominee, John Lindsay . Beame won the 1973 Democratic mayoral primary with 34% of the vote, ahead of Herman Badillo (29%), Mario Biaggi (24%), and Albert H. Blumenthal (16%). He defeated State Senator John J. Marchi , Blumenthal, and Biaggi in
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