Bigger Finance Hub: FIDI vs. Midtown
I get the feeling that Midtown has the upper hand, but I'm not really sure.
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9/11 forced a lot of firms uptown for obvious reasons but there's still a sizable presence in Lower Manhattan. You're probably right that Midtown has a lead but does it really matter?
Midtown plays host to most firm headquarters now rather than downtown.
Of course it matters. IMO it's a travesty that firms have moved away from the freaking FINANCIAL district. Honestly would there be anything more beautiful than walking down WALL STREET while looking left to right and seeing skyscraper after skyscraper with blazing lights that read:
GS MS JPM BAML CS C BCS DB UBS
in a row?
I would literally wet my pants. When you get off at the WALL STREET stop (not that masters of the universe take the peasant subway), you'd know that this was where the rulers of the world congregate.
"Wall Street is the only place that people ride to in a Rolls Royce to get advice from those who take the subway."
The problem of downtown and the reason that most firms moved to mid town is that most of the buildings downtown are old, and the problem isn't the age itself, but the small floor plates of old buildings. Quite simply, you can't have a big trading floor in a building with 15,000 sf floor plates, and it's even tough to lay out a modern, non-trading floor, normal office on small floor plates. The WTC complex had large floor plates which made it possible for firms to be there and I'm guessing the new buildings do or will (although I feel like a lot of non-finance firms signed leases there if my memory serves me well), as does 200 West St. Being a history buff I wish things were still down there but half of the historic Wall St offices (think J.P. Morgan, the man and the company's offices at 23 Wall) are condos and in reality we probably won't even need the NYSE floor in the coming decades.
And the Rolls Royce quotation is from Buffett I believe.
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