T
he Financial District in Manhattan has undergone a significant transformation from a hub for financial and media giants to a family-friendly neighborhood. The area's narrow streets, once dominated by suits, are now filled with strollers jockeying for sidewalk space. This shift is attributed to the office-to-residential conversions that have taken place in the wake of COVID-19.

    According to Jonathan Miller, president and CEO of real estate appraisal firm Miller Samuel, the neighborhood's 24-hour lifestyle and increased housing options have made it more appealing to families. The average sale price of a residence in FiDi is $1.16 million, compared to $1.95 million in Greenwich Village and $1.97 million on the Upper East Side.

    Several prominent developments have opened or are set to debut, including 55 Broad, formerly the Goldman Sachs headquarters, which will start leasing this month with 571 units. Another notable conversion is One Wall Street, where Harry Macklowe's development offers lavish layouts and a range of amenities, including a teen lounge and playroom.

    The neighborhood's growing population reflects its newfound appeal to families. Downtown Alliance data shows that Lower Manhattan had 14,000 residents in 1995 and 62,000 in 2019, with the number expected to swell to 70,000 this year. The area's schools, green spaces, and culinary options have also improved, making it a desirable place to live.

    Pearl House, currently the largest office-to-residential conversion in New York, offers open living areas and room for families to grow. The building is 90% re-leased, with amenities including a game room, bowling alley, and children's playroom. Families like Martha Rivera and her husband Fernando Torres have moved into Pearl House, citing its family-friendly community and convenient location near their son's school.

    One Wall Street, developed by Harry Macklowe's Macklowe Properties, features 566 residences starting at $895,000. The property includes a range of amenities, including a teen lounge, arcade, playroom, and membership to Life Time, which offers programs such as language classes and date night childcare.