One of New York City’s most historic and celebrated neighborhoods, Greenwich Village is rich with culture and history. Although it may not be an obvious choice to relocate a business to, it does offer a number of benefits, especially for retail companies and those in the technology and creative services sectors. Is it right for your company though?
Overview
Greenwich Village is located in Lower Manhattan, sandwiched between 14th Street to the north, Houston Street to the south, Broadway to the east and the Hudson River to the west. The neighborhood is among the oldest and best-preserved in the city, with many homes dating to the early to mid-19th century when it underwent a building boom. For decades, the community served as a major hub for Bohemian and counterculture writers, poets, artists, musicians and filmmakers, although in recent years it’s become among the most expensive and trendy parts of the city to live in. Today, the neighborhood’s historic character is well-preserved thanks to strong landmarking and zoning laws while New York University serves as it’s social and cultural anchor.
Advantages
Greenwich Village enjoys heavy foot traffic, making it ideal for retail businesses. It also offers excellent subway access via the A, C, E, L, B, D, F, M, 1, 2 and 3 trains as well as numerous bus routes, not to mention a prime location between Midtown and Downtown’s major transit hubs. Unlike Midtown and most of Lower Manhattan, the neighborhood offers a trendy, historic character that make it perfect for companies in sectors such as fashion, tech, digital marketing and creative services. The presence of New York University makes it simple to recruit interns and new hires as well.
Disadvantages
The largest drawback of the neighborhood is its lack of Class A office space and modern office inventory, making it a very poor choice for financial firms, banks, law offices and other major corporations that require large amounts of space and modern amenities. It’s also somewhat far from regional transit hubs like Grand Central Terminal, Penn Station and the Port Authority Bus Terminal, meaning that companies with suburban commuters will likely have to look elsewhere.
Verdict
Although not for every company, Greenwich Village is a great choice for smaller, boutique companies in sectors such as tech, advertising and media. It’s unique mix of trendy appeal, historic character and convenient location make it a solid choice for smaller businesses seeking a more intimate and hip alternative to Midtown and Downtown Manhattan.
