New York or so-called “Big Apple” - one of the major world financial centres whose stock exchanges NYSE and NASDAQ are world leaders in trade shares. New York managed to overcome London as a result of explosive growth of American economy in 20th century (1914-1945). During the European wars USA was a relatively stable place.
Buildings of New-York financial centre are concentrated on the south-east side of Manhattan. Offices of big financial companies including New York Stock Exchange and Federal Reserve Bank are situated there. This district, FiDi for short, is famous for its high rise buildings and urban density now seen as a symbol of New York. Glittering scyscrapers with a square facades side-by-side are associated with energy, concentration and vigour of the world financial centre. Such buildings appeared in New York when elevator and steel constructions were invented. Developers were happy to use those technical achivements in order to increase footprint of the building in a frame of modest lots.
As a result skyscrapers flood onto the streets; because of its height illumination of the first floors and pavements decreased. To let sun on the sidewalks developers had to build stepped buildings where each next level smaller than the previous one. Although it seems that the density level of FiDi will only grow in the future. Remain low-rise buildings is to be replaced with skyscraper, mayor Michael Bloomberg is up for this supported by developers and scientific society. Kenneth T. Jackson from Columbia University remindes in his article in The New York Times that density of the population in Manhattan of 1910 were 47% higher than now. (2,5 millions of people versus 1,6). To his mind young professionals would prefer to live not in a comfortable countryside but in a Gotham-style city centre because they value mobility which you get in a heart of the city.