Friday, April 15, 2016

The Wall Street Area: A Change of Scene in (almost) One Decade

Finally, it seems like the cold and chilly days are over for now.  On a sunny and warm Friday, I decided to take a walk during lunch. 

I have been working in this area for quite some time now - long enough that I almost lost track of how many years I have been here. I still remember on my first day of work in NYC after spending a few years in CT, it was also a bright and sunny day, except that it was in the summertime.  I was full of enthusiasm and energy, and was ready to build my career in the world renowned financial center. 

On that day, I got off onto the old and narrow platform on Wall Street station during the morning rush hour traffic, marching out of the station along with a crowd of professionals, until I couldn’t keep up with them anymore because I had to stop to pull out my phone and check the address and the map of the new office building.  In this concrete jungle full of skyscrapers, there was no way to determine directions by looking at the shadows. I got to the office, had a warm welcome and an informative orientation, and met everyone on my team in the morning. During lunch on that day, I took the same walk outside, got lost in a quiet alley, and had to pull out the map app on the phone again in order to find my way back to the office. I told my cheerful and welcoming coworkers about my incident, and they were kind enough to print a nice little map of the downtown area for me. Soon a few coworkers and I formed a lunch group to try different lunch spots together, sometimes even spending over an hour taking walks, going to Chinatown for authentic noodle soups/rice bowls, or even checking out nearby events and bargain deals.  Back in the office, during days when we were not too busy, in some afternoons we would take breaks to get the humongous 4" Crumbs cupcake for snacks, join the neighboring department for monthly birthday celebrations, or attend happy hour at a nearby Irish pub.

The local businesses were quite unique in the Wall Street area, it was entirely catered to the nearby companies, and professionals working in the area during the day, or residing in one of the high rise condos during weekdays. At that time there were shoe repair and tailor shops for the busy folks who needed some quick fixes on their outfits; there were floral shops delivering beautiful bouquets to building lobbies and floors, or to company sponsored events; there were some full service authentic restaurants for business guests to grab a decent lunch; there was a famous burger shop that sold special burgers with Kobe beef patty, sliced black truffle, foie gras sauce, and topped with gold leaves, for an outrageous $275 price tag.

Those.Days.Were.Long.Gone.

After a financial crisis that crippled the industry and almost the entire world economy, a superstorm Sandy to add insult to injury, and the steep growth in real estate prices, the scene on Wall Street has changed rapidly, drastically and permanently. Companies began to downsize and offshore jobs to less costly areas or countries in order to reduce expenses and exposures to the flood-prone area; some even packed up and relocated headquarters or back-office departments to suburbs, leaving many offices and retail spaces 
vacant, and causing some office buildings to remodeled as apartment rentals; most if not all companies heavily monitored and controlled discretionary expenses; and more professionals are working more hours than ever. This was a trend in the beginning, and after a few years people have gradually adapted to and accepted the new norm.

Fast forward to today, less people are eating out during lunch now, either because the area has lower headcount, or people are just too busy to eat out. People opt for more quick options – promoting growth in fast food Chipotle-like restaurants and cheap option food trucks; people are working longer hours, so restaurants that offer late night food delivery flourish, and apartment rentals are highly sought after; companies are promoting fitness by offering discounted price to local gym memberships (in order to save on health insurance premium), so Pure Barre, Soul Cycle, and CrossFit xxx are popping up next to office buildings, and salad only/vegan restaurants and juiceries are the hottest trends; floral bouquets and business lunch are considered discretionary expenses, so the 3 remaining floral shops and a few full service restaurants are now closed.

Since I don't go out often during lunch, and my new location is pretty far from everything, these changes don't have any real impact on me.  When I strolled to the quadrilateral area with 5 company-owned/leased buildings, where I used to walk from one building to another, it was a little sad that I didn't run into any familiar faces and businesses anymore.  I couldn't help but thought of the old days for a moment, where I walked by during my commute; hailed a cab to get to the airport to start my weekday travels; rushed in between buildings for meetings, and weathered snowstorms to deliver projects. Yup, those footprints were made with many laughters and frustrations. 

I picked the old go-to casual lunch spot to grab a quick bite. The restaurant has also relocated - from a few blocks away from the exchange, to a less expensive location near the neighborhood border.  As I sat down to eat, the stereo started playing a cheerful song that I listened to a lot during my first days working in this area  - it really gave me a nostalgia. I carried on with my thoughts, until I got disturbed with fire-drill requests and meeting buzzes on my phone. 


As I walked back to my office, I realized that the streets are just too familiar to me to get lost in and I can even find the way back with my eyes closed; I know all the stops and exits for all of the subway lines in the area; I still have passion and enthusiasm in my work and in this industry, although on a different level in comparison to the minty me.  I came to a stop at the traffic light, and saw a group of tourists looking bewildered by the scene across the street - it was a group of union workers on strike outside of their employer. I guess the only surprise to me was that things like this wasn't even enough to catch my attention anymore. 

The Wall Street area seems like a dreamy place on movies, but it might not a place to pursue a perfect dream. 


"If it's not the like movies, that's how it should be."

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