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CITY HALL/INSURANCE DISTRICT
The City Hall/Insurance District Will Surprise You.
The City Hall/Insurance District will surprise you. The area, which boasts a large inventory of reasonably priced Class B and Class C properties, was pretty dull not that long ago. Nothing could be further from the case today. The popularity of Tribeca to the north, and the increasing number of residential conversions and new residential construction throughout the downtown area, have made the City Hall/Insurance District into a vibrant neighborhood and a great place for doing business.
This is one of the most historic parts of Manhattan. City Hall Park, a neighborhood oasis where office workers and tourists alike relax and eat their lunch, was the Commons of colonial New York, where on July 9, 1776, New Yorkers first heard the Declaration of Independence publicly read. It is the terminus of parades up Broadway's "Canyon of Heroes." And it's the setting of New York's beautiful City Hall, built in 1811 and still serving as the home of the mayor's office and the City Council.
City Hall/Insurance District Featured Properties
Rent in the Center of Government.
The City Hall/Insurance District is New York's Civic Center, home to the offices of city, state, and federal government, and to the courts. Behind City Hall rises the majestic Municipal Building. Behind it is One Police Plaza, while to the north are the local and federal courthouses surrounding Foley Square.
The district boasts 17 Class A properties, with a vacancy rate between 1 and 2 percent and an average rent of $49.36 per square foot. The 66 Class B properties have a vacancy rate between 3 and 4 percent, and an average rent of between $41.03 and $45.16 per square foot.
Walk to Your Office from a Major Transit Hub.
All roads lead to City Hall. This is one of the city's best-served neighborhoods for transportation. The options are too many to list: East Side local lines stop at the Brooklyn Bridge/City Hall station, and the East Side express line stops at the nearby Fulton Street station, where you can also get the West Side express lines and the Eighth Avenue A and C trains. The city is building a new, state-of-the-art transit hub at Fulton Street. At City Hall you can get the Broadway R line.
Enjoy a District with Some of the Most Famous Office Buildings and Other Sights in New York.
The City Hall/Insurance District boasts some of the most beautiful and famous attractions in New York, including the glorious Woolworth Building, the Brooklyn Bridge, and the 18th-century St. Paul's Chapel. Once, all the city's newspapers had their offices along or near Park Row, to be close to City Hall. Today, many firms that do business with the city, state, or federal governments find it advantageous to be in the area. This is especially true of law firms. To the east of City Hall and south of the Brooklyn Bridge is the Insurance District, which, though it got its name in the late 19th century, still retains several insurance companies. Nearby is insurance giant AIG. Equitable was the largest insurance company in the world when it built 120 Broadway, the world's largest office building in 1915. Today, beautifully preserved, the building is attracting companies of all kinds.
Recently, companies from Midtown and Midtown South that do not have major high-tech infrastructure needs, such as publishing firms, have been attracted by the reasonable Class B rents in the area, as well as by the increasing amenities. Office workers like to walk to nearby Chinatown for lunch, while business deals can be struck in four-star Tribeca eateries. Many hotels have also opened in the area in recent years. The South Street Seaport, popular for after-work gatherings, is right in the area.
Corresponding zip codes: 10007 10013 10038