Matt DiLiberto, CFO of SL Green, discussed the 25-year transformation of Lower Manhattan following the September 11th attacks. He highlighted how the area has been “reimagined” from primarily a nine-to-five financial district into a vibrant neighborhood where residents live, work, study, and visit. The central question after the attacks was not if the area would be rebuilt, but rather how, how long it would take, who would undertake the effort, and what its final appearance would be.
DiLiberto pointed to significant growth in both population and housing units in Lower Manhattan. The workforce has also diversified, with financial services now representing only 25% of the occupied space downtown. The area has added almost 25,000 residential units since 9/11, and its population has more than doubled, showcasing its evolution beyond just a business center.
From SL Green’s perspective, the company shifted its focus toward residential projects in the area due to this neighborhood evolution. DiLiberto cited developments like 100 Church Street, 33 Beekman, and 180 Broadway as examples of their commitment to this residential expansion. He framed the extensive redevelopment as an integral part of New York City’s broader needs and ongoing evolution.
