Warburg Blog

Who Wouldn’t Want to Occupy It?

Never mind the construction, the human megaphones, and the tourists: A more livable lower Manhattan is emerging.

The world’s eyeballs were glued to lower Manhattan twice in 2011, first with the unveiling of the World Trade Center Memorial and then with Occupy Wall Street. Outside of New York, the area’s Q rating has never been higher. Inside, the story’s the same, but for very different reasons. Suddenly, a lot of people want to live in the square mile below Chambers Street—56,000 by one recent count, up 60 percent from 2005—and a growing number of businesses and developers, not to mention tastemakers like Danny Meyer and Frank Gehry, are racing to meet them. Here, a comprehensive accounting of the new restaurants, bars, shops, schools, parks, and 24-hour Über-pharmacies turning the onetime office ghetto into a full-fledged neighborhood.

Liquor

The party no longer ends at happy hour.

The neighborhood’s traditionally pubby drinking scene got its first destination cocktail joint over the summer in Silver Lining (1) (75 Murray St., nr. Greenwich St.; 212-513-1234), a subterranean jazz bar run by Little Branch vets. Serious imbibers are also alighting on The Living Room (2) (123 Washington St., nr. Albany St.; 646-826-8646), which slings drinks designed by mixologist Charlotte Voisey on the moodily lit fifth floor of the W Downtown hotel. The beer scene has also improved dramatically thanks to Porterhouse Brewing Company at the historic Fraunces Tavern (3) (54 Pearl St., nr. Broad St.; 212-968-1776) and Keg No. 229 (4) (229 Front St., nr. Peck Slip; 212-566-2337), which offers a 21st-century take on beer appreciation, with self-serve draft spouts and consumption-tracking LED screens. Two-story newcomer The Growler Bites & Brews (5) (55 Stone St., nr. William St.; 917-409-0251) takes a resident-friendly stance by welcoming patrons’ pooches to its cobblestone patio. It’s two-legged customers only at the Bailey Pub & Brasserie (6) (52 William St., nr. Wall St.; 212-859-2200), a classic late-night deal-sealing operation with soaring windows, a steak-frites-leaning menu, and red leather banquettes.

Lunch

It’s not just Boar’s Head heros anymore.

The arrival of several major lunch players from elsewhere in the city has signaled the end of the reign of the dirty-floor deli. That sea change gained momentum with, what else, a Shake Shack (1) (215 Murray St., nr. West St.; 646-545-4600), which is rumored to reserve one grill for upstairs neighbors Goldman Sachs. The Luke’s Lobster (2) (26 William St., nr. Broad St.; 212-747-1700) boys likewise brought their popular lobster-roll operation down to these parts over the summer, while Julian Medina chose the financial district for his Toloache Taqueria (3) (83 Maiden Ln., nr. Gold St.; 212-809-9800), the casual, order-at-the-counter branch of his mini Latin American empire. French chef François Payard (4) (210 Murray St., nr. West St.; 212-566-8300) joined the migration with his casual pastries-and-sandwiches-and-salads concept in October. Even Chicago-based sub chain Potbelly Sandwich Shop (5) (101 Maiden Ln., nr. Pearl St.; 646-289-4201) zeroed in on the hood for its first New York location, introducing its Dagwood-worthy stacks of meat, meat, and more meat to Wall Street this summer.

Future Eats

Where Danny Meyer goes, many follow.

In his hotly anticipated North End Grill (1) (104 North End Ave., at Vesey St.; 646-747-1600), Meyer hopes to do for Fidi what Marcus Samuelsson’s Red Rooster did for Harlem—that is, rouse a sleepy fine-dining scene. The 120-seat restaurant, with Floyd Cardoz of Tabla at the helm, plans to unveil its open kitchen and serious Scotch menu before the New Year. Another Meyer operation, a smaller outpost of Gramercy’s Blue Smoke (2) (225 Vesey St., nr. North End Ave.; no phone yet), is also slated to open by year’s end. Meanwhile, Renowned U.K. bartender Sean Muldoon and Puck Fair’s Danny McDonald are teaming up on a bar, The Dead Rabbit (3) (no address or phone yet), that will focus on mid-nineteenth-century drinking culture, with one room devoted to craft beers and a fancier one re-creating punches and other cocktails from that era. Cocktail buffs will also herald the arrival of Demi Monde (4) (90 Broad St., nr. Stone St.; no phone yet) from Death & Co.’s David Kaplan, David Blatt of Interstate Food & Liquor, and others. Also coming up: Pizza Vinoteca (5) (32 Water St., nr. Broad St.; no phone yet), a wine-and-grilled-pizza experiment from Top Chef all-star Stephen Asprinio; and an unnamed project on Pier A (6) (Pier A, 4 Battery Pl., nr. West St.) from Peter Poulakakos of Harry’s Steak, Financier Patisserie, Ulysses, and the Growler Bites & Brews. His group won the coveted lease to Victorian Pier A in Battery Park City, where they’ll open a beer garden, seafood restaurant, and oyster bar in 2013.

Perishables

Eat your locavore heart out, Union Square.

Since its founding in 2005, the New Amsterdam Market (1) (South St. nr. Peck Slip; Sundays, May through December) at the old Fulton Fish Market site has grown from an occasional event to a monthly happening to (nowadays) a weekly fixture endowed with prepared pickles and salamis, an impressive local wine selection, and more lobster rolls from Luke’s. Veggie lovers can also stock up at area Greenmarkets, including the neighborhood’s newest Greenmarket at the World Financial Center (2) (South End Ave. at Liberty St.; Thursdays, April through December), where a concierge service lets office workers shop early and pick up purchases at the end of the day. At the Andaz Wall Street farmers’ market (3) (75 Wall St., nr. Pearl St.; Saturdays and Wednesdays, April through mid-December), some of the farmer vendors that supply hotel restaurant Wall & Water offer their wares direct to consumers in the Andaz courtyard. There’s also a weekly CSA in collaboration with Pennsylvania-based Down Home Acres Farm.

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Conveniences

Until the megamall arrives, it’s all about the essentials.

Century 21 aside, lower Manhattan is not a great shopping neighborhood. It is, however, an ideal location for the city’s (nay, the world’s) most multitasking Duane Reade (1) (40 Wall St., nr. Nassau St.; 212-742-8454). The five-month-old store is open 24 hours and packed with a small town’s worth of services: a hair salon, a manicure station, a shoeshine, a flower kiosk, a jewelry counter, and a sushi bar. Other newcomers filling neighborhood niches: old-school stationer Midtown Comics (3) (64 Fulton St., nr. Gold St.; 212-302-8192); high-end frame fashioner Artsee Eyewear (4) (220 Murray St., nr. West St.; 212-227-2400); and florist–gift shop Bloom (5) (255 Murray St., nr. Greenwich St.; 646-414-6269; opens 1/9). For wardrobe fixes, T.J. Maxx (6) (14 Wall St., nr. Nassau St.; 212-587-8459) expanded here last month, as did menswear labels My.Suit (7) (30 Broad St., nr. Exchange Pl.; 646-556-7430) and JoS. A. Bank (8) (111 Broadway, nr. Cedar St.; 212-227-3684). But the biggest development is yet to come in 2013: Brookfield Properties’ (9) $250 million World Financial Center retail hub is envisioned as the downtown answer to the Shops at Columbus Circle, with 40 shops, six restaurants, and subway access (200 Vesey St., nr. West St.; no phone yet).

Greenery

Everywhere you look, a new park has popped up.

The year’s most obvious lower-Manhattan news is the reconstruction of the World Trade Center (1) site and the inauguration of Memorial Plaza, which will eventually be joined by 1 World Trade Center, four additional towers, and the Santiago Calatrava–designed World Trade Center Transportation Hub. For the locals, however, the action is in Battery Park, where an entire acre has been set aside for the Urban Farm (2), composed of 80 plots of farmers’-market-bound organic vegetables, herbs, and flowers, tended by kids from local public schools. Frank Gehry has settled in here, as well, but not to design another blockbuster building. His Battery Playspace (3) (Battery Park, State St.), is set to replace the current, outdated playground in early 2013. In the meantime, parents and kids can begin to switch up their recreational scenery at Imagination Playground (4) (2 Fulton St., nr. South St.), a futuristic kiddie zone designed by David Rockwell; Teardrop Park South (5) (Vesey St. at River Terr.), the Michael van Valkenburgh–designed offshoot of the original Teardrop, featuring high-tech mirrors that bounce sunlight into its shady areas; and along the Fulton Street Corridor (6) (at Pearl St.), where Pearl Street Playground’s new sandbox and plaza will join the recently cleaned-up Titanic Park (at Water Street). Just north of the South Ferry terminal is the revamped and relandscaped Peter Minuit Plaza (9 Battery Park, nr. White Hall Terminal) (7), home to a picnic-ready pavilion designed by Dutch architect Ben van Berkel. The first section of the planned two-mile East River Esplanade (8) (South St. bet. Maiden Ln. and Wall St.) opened this summer, and its Pier 15, with a boating dock, café, and upper-deck lawn, will be up and running soon. (In 2013, the East River Esplanade and Hudson River Park will be connected via the Battery Garden Bikeway.) There’s also the redevelopment effort along Liberty Street, which has led to the renovation of Louise Nevelson Plaza (9) (William St., Liberty St., and Maiden Ln.), first built in 1977 and now showing off its namesake feminist sculptor’s works again.

Workouts (Both Mental and Physical)

New schools for the kids, new gyms for the parents.

As lower Manhattan has become a gravitational center for young families, the schools have kept up with the playgrounds (see above) in number and design. Battery Park City School, P.S./I.S. 276 (1) (55 Battery Pl., nr. First Pl.) is one of the first schools designed and built under the city’s Green Schools Guide. The partially solar-­powered elementary school features an outdoor science classroom and unobstructed views of the Statue of Liberty. Also new to the area is the Spruce Street School (2) (12 Spruce St., nr. Park Row), an elementary school occupying the brick base of Eight Spruce Street, the tallest residential building in America, with an undulating façade designed by the neighborhood’s busiest architect, Frank Gehry.* For more grown-up mental pursuits, there’s the new 10,000-foot Battery Park City Library (3) (175 North End Ave., at Murray St.), Manhattan’s first LEED-certified library, and Hive at 55 (4) (55 Broad St., nr. Beaver St.), a new work space for freelancers and start-ups created under Mayor Bloomberg’s MediaNYC 2020 program. And in the fitness realm, there’s a SoulCycle (5) (103 Warren St., nr. Greenwich St.) spinning studio, where Chelsea Clinton allegedly got into wedding shape last year, and arriving soon, a new Battery Park City campus of Asphalt Green (6) (212 North End Ave., nr. Murray St.). The extension of the popular Upper East Side facility promises 52,000 square feet of fitness equipment and classrooms.

Hubs

No need to transfer.

How to handle all this new traffic? In addition to the World Trade Center station, the Fulton Street Transit Center (1) (Fulton St. at Broadway) will eventually connect twelve subway lines and the path train in one megafacility. A new entrance to the A/C/2/3 lines opened in August on William Street, with another scheduled for 2012, and by 2014, the whole $1.4 billion project should be complete. And, should you need to get across the river, the five-month-old East River Ferry network stops every twenty minutes at Pier 11 (2) (Gouverneur Ln. at South St.), one of seven stops along the route.

[Source: NYMag.com]

Mainstay of American Fare Is Transformed in the Wake of 9/11

Rector Street Food Enterprises, a.k.a. George’s, has served downtown residents and restaurant-goers for more than 60 years. Located at the corner of Greenwich and Rector, this three-story eatery with an exposed brick exterior seems somehow at home in the shadow of its towering glass and steel counterparts. Marked by a continuous stream of customers, this FiDi classic is a true family affair. Five years ago, after more than two decades at the helm, former owner George Koulmentas finally passed the baton to his son Bill.

“People think my name is George all the time and I never correct them,” quipped Bill, 40, one of the first residents of 20 Pine The Collection. “I’ve been here since I was a kid. What’s funny is that now people associate me with the restaurant so it’s easier for them to call me George.” Starting at the age of 10, Bill would spend summers and school breaks working as a dishwasher, bus boy, counterman and, ultimately, chef.

“If you don’t know how to do it yourself, how can you tell someone else to do it?” asked Bill. “If you don’t know how to do it yourself, how do you know if it’s being done right? That’s how George’s food and experience is quality-controlled.”

Over the years, Bill has witnessed a true transformation of the Financial District, with the emergence of upscale retail stores like Hermes and Tiffany’s and the arrival of luxury residential properties in buildings that were once corporate headquarters.

“The demographics in this area changed very fast,” said Bill. “This neighborhood was a Monday to Friday operation, but now weekends are our busiest days. New schools are being built, and residents and tourists have become our typical customers.”

What accelerated this transformation, he believes, was 9/11. The events of that day left structural damage to the building that had housed George’s for more than 50 years. Forced to demolish their “baby,” both father and son determined to infuse the new George’s with a fresh energy and attitude. Three years later, when George’s returned amid unanimous support, the neighborhood that greeted the Koulmentas clan was dramatically different.

“We wouldn’t exist without the community so we focus on providing the best quality food, experience and service,” said Bill. “What gets me excited is seeing people smile and return with their friends. Our aim is to ensure that guests feel as if they’re in a home away from home.”

George’s now features a warm color palette, cheerful imagery and outdoor seating. Bill has replaced staples like the meatloaf and Beef Stroganoff with café-like options, including a cappuccino muffin, French toast croissant and Santa Fe burger, to cater to the new clientele.

“A customer gave me a photograph of a beaten-up fire truck in front of St. Paul’s Chapel, which has an angel in the window from the reflection of a candle,” said Bill, of his restaurant’s sole nod to 9/11. “I’ve hung that in the middle of the space so that it overlooks everyone. We can never forget, but we all have to move forward.”

George’s

89 Greenwich Street

New York, NY 10006

The Friendly, Courteous Connoisseur Just Around the Corner

Sure, Downtown Cellars (formerly The Greene Grape Downtown) has about 240 different bottles of wine from all over Europe, South America, Australia, South Africa and other far-flung and close-to-home wine-growing regions. They stock a wide variety for any occasion or mood, but it’s the staff that really sets this boutique wine shop apart. We agree wholeheartedly with this comment from Chris W. on Yelp: “The service is unparalleled – knowledgeable, friendly, and always ready with a great new suggestion.” Now that’s customer satisfaction.

We spoke recently with current owner and wine connoisseur, Seth Datz, to find out more about one of favorite neighborhood spots. According to Datz, Downtown Cellars specializes in hard to find wines, wines from small vineyards and organic and sustainable wines that retail for $20 and under. “I like the wines that are still owned by the growers, some of my favorites are red Burgundies and German Rieslings,” he said.

And if you’re thirsty for a better understanding of wines, Downtown Cellars runs a fantastic free tasting every Friday from 5-7 p.m. Be sure to join their email list to get updates and find out about each week’s theme. “Our emails go out to about 6,000 customers. A lot of people meet after work and, depending on the tasting and the night, our store can be so crowded you can’t move,” Datz said. “We sometimes have an ‘Old World versus New World’ theme where our customers can compare Chardonnay from France to Chardonnay from California.” Sounds fun!

So what’s their most popular wine? You may be surprised. According to Datz, “Italian reds are very common, but the wine sold most is a Savigny Blanc from Chile. It’s inexpensive and great!” Other bestsellers include a California Pinot Noir and Prosecco, the dry Italian sparkling wine.

With fine spirits, constant promotions and frequent tastings, Datz makes finding your own favorite wine easy and comfortable. Even better, a rewards program allows customers five percent back on each purchase. And when you have $20 worth of rebates, you’ll receive a $20 voucher at the store. Cheers!

Downtown Cellars

55 Liberty Street

New York, NY 10005

Paul Tiberio is Senior Vice President of Duane Reade, which opened one of its newest 24-hour locations on Wall Street just last month. An impressive 22,000 square feet, it also happens to be the single largest of all their New York City stores, said Tiberio, a testament to the Financial District’s explosive growth in recent years and a real vote of confidence in the neighborhood.

The building itself is positively rich with history and grandeur. According to Tiberio, “The fireplace in the back where the nail salon is used to be David Rockefeller’s office 20 plus years ago, and we were also able to keep all of the marble flooring and restored and polished the marble pillars. Also, the marble stone archways and brass escalators are all still intact.”

This is no run-of-the-mill pharmacy. No, Duane Reade is redefining what you can expect from your neighborhood store by offering hairstyling services, including hair and scalp analytics, manicures and massages, and even men’s haircuts. Two chefs are on-hand to make fresh sushi every day and a delicious smoothie bar offers up healthy drinks.

Speaking of health, the pharmacy has a doctor on staff for consultation during the week, which is great for tourists and out-of-towners in need of walk-in or immediate care.

Tiberio said that residents really appreciate the all-under-one-roof approach. “The pharmacy allows customers to get their prescriptions refilled quickly, which is great. And the daily crowd is taking advantage of the fresh food options for breakfast and lunch,” he added.

There’s even a stock ticker for the business professional to glance at and a $3.00 shoe shine, which donates all proceeds to New York-based philanthropic organizations through the Duane Reade Charitable Foundation. Wow, look good and feel good for a few bucks. That may just be the best bargain in the store!

Duane Reade

40 Wall Street

New York, NY 10005

Serving Drinks Since 1847: An Old-Time Establishment With a Modern Menu

In a city with many claims to history, the Bridge Café is truly in a class of its own. Housed in an old wooden building dating to the late 18^th century, the establishment has been a bar of one stripe or another since 1847 – the longest continuous streak in New York City. That means they were serving drinks there back when the city’s mayor was a member of the Whig party! Once a popular watering hole for dockworkers, the Bridge Café is now a favorite haunt of those who live and work in the Financial District. How the neighborhood has changed!

We spoke recently with owner Adam Weprin about his restaurant, famous for its mouthwatering soft-shell crabs and extensive scotch and whiskey selection. In the Weprin family since 1979, the Bridge Café boasts between 85-100 single malt scotches, 20 blends and 30 whiskeys and bourbons. An all-American wine list contains selections well suited to the entrees.

Speaking of entrees, one of Bridge Café’s most popular dishes is the buffalo steak, shipped in weekly from the Midwest and served with a delicious homemade lingonberry sauce. The grilled hanger steak and lean buffalo burger are must-haves as well.

“The steak we serve is very tender and delicate,” says Weprin. “And when in season we serve soft shell crabs, which are amazing. We have them from April to October and they are flash-fried, meaning lightly fried. I’ve had people from the South, who eat this every day, ask me what we did that gave it that great taste.” Of the buffalo steak, the oldest dish on the menu, Weprin says, “We’ve had different chef’s cook it but when our current chef Joseph Kunst makes it, it is truly velvet in the form of meat.”

With all this talk of meat, you’ll be surprised to know that Bridge Café is decidedly vegetarian friendly. “No one likes to feel left out,” says Weprin. “I know vegetarians come here with their meat-eating friends and they have to eat too!” Options include a scrumptious black bean and portobello veggie burger and the “Strata Bercovici,” named for a onetime regular customer, consisting of grilled vegetables, goat cheese, spinach and sweet pea farrotto.

When New York’s ban on beekeeping was lifted last year, Weprin put six hives on the roof. So not only is he serving up some of the freshest food in the city, he’s also pollinating local gardens. It is a sweet gesture that extends well beyond the Financial District. And while the Whig party may no longer be around, New York City’s mayors certainly are. From Koch to Bloomberg to members of the city council, local politicians know that Bridge Café is a true treasure. Step inside and you’ll discover the charm and appeal of this jewel at the foot of the Brooklyn Bridge.

Bridge Café

279 Water Street

New York, NY 10038

Gourmet Grandeur: Kona Crusted Dry-Aged Sirloin in a National Historic Landmark

Can you say Parmesan truffle fries? We certainly can after having tasted some of The Capital Grille’s absolutely delectable dishes. We dropped by recently to speak with Chef Jason Miller about his menu – and don’t worry, we made sure not to talk with our mouths full.

Miller, who was born and raised right here in New York City, has been executive chef of Capital Grille since its Financial District opening back in 2009. His 16 years of culinary experience as executive chef at David Burke Townhouse, Smith & Wollensky and Primehouse – excuse us for name-dropping! – are evidence that he knows how to satisfy the most discerning customers. In other words, he knows what his fellow New Yorkers like to eat.

According to Miller, Capital Grille is never not busy. With 440 seats and three floors (the largest restaurant in the neighborhood), it can accommodate the business crowd, local residents and tourists – all at the same time. “Everyone that comes in here is treated like a VIP,” said Miller. “Capital Grille vows to give customers an exceptionally distinct experience. We go above and beyond by aging and butchering our meats in-house, using only high-quality ingredients, creating our own homemade mozzarella and providing the best customer service.”

Of course, as executive chef Miller is in a position to add his own creative dishes to the menu. Regulars praise the filet mignon, the grilled swordfish with lemon-shallot relish and the sautéed spinach. “We don’t have that one dish everyone comes in for,” said Miller. “We have like ten.”

Over the past several years, the Financial District, or FiDi as it’s now known, has become a modern, upscale residential enclave and Miller believes very strongly that Capital Grille – housed in the historic Equitable Building – has helped contribute to this success. “As the area became incrementally busier, Capital Grille extended business hours from five days a week to Monday through Saturday. Local residents are moving down to Wall Street because they now have restaurants and commodities at their service every day of the week,” he said.

So I guess what we’re trying to say is: whether you’re a CEO on Wall Street or a barista at the local coffee shop, to experience Capital Grille is a MUST. Your taste buds will thank you.

The Capital Grille

120 Broadway
New York, NY 10271