20 years after the 9/11 attacks, lower Manhattan has become more residential and home to a broad range of industries WSJWhatsNow
Known for its soaring skyscrapers that house congregated financial firms, lower Manhattan has transformed since the attacks of Sept. 11, 2001, in ways both visible and unseen.
“It’s a beautiful morning, and all of a sudden I saw papers flying sideways outside my window,” said Mr. Goldstein. He ran to a conference room where he could see the other tower. “I saw all the flames, the papers flying out, and I said to my colleagues, ‘Let’s get the hell out.’ ” He ran down 10 flights of stairs and took an express elevator to the street.
KBW’s temporary move out of the Financial District was made permanent by the end of the year, when it leased the entire fourth floor of 787 Seventh Ave., at West 51st St. “For us, we felt the pain was just too deep to be downtown at that time,” said Tom Michaud, then the company’s chief operating officer and now its chief executive.
These movements didn’t appear to hurt lower Manhattan long-term, though. Of those that did move, most stayed in Manhattan, according to research conducted in 2004 and later published in the journal Professional Geographer. Another is Spotify, which in 2017 signed a 15-year lease for space in 4 WTC, rebuilt just east of where the South Tower had stood. The company received around $11 million in rent-reduction credits from New York state.
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