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129-511: In the 1980s, some financial companies started moving from Manhattan to the west of the Hudson River to settle along the waterfront of Jersey City, New Jersey . The area earned the name "Wall Street West" after Bankers Trust had a major relocation to it in 1985. Other major financial firms followed shortly after with National Westminster Bank of London building its domestic subsidiary there. Donaldson, Lufkin & Jenrette (DLJ) moved into

258-574: A 1981 article in Rolling Stone magazine calling the stretch of West 42nd Street between 7th and 8th Avenues the "sleaziest block in America". By the late 1990s, led by efforts by the city and the Walt Disney Company , the area had been revived as a center of tourism to the point where it was described by The New York Times as "arguably the most sought-after 13 acres of commercial property in

387-536: A continuing exodus of business from the downtown core of San Francisco. Significantly high levels of crime and homelessness have become more prominent features of the financial district and neighboring Union Square. Theories advanced range from crime, drugs, and homelessness, to the West Coast's and particularly San Francisco's challenge to remain a relevant commercial and financial center given its relative geographic isolation from other North American commercial centers in

516-497: A controlled flow of energy while also functionally isolating the independent AC frequencies of each side. The benefits of synchronous zones include pooling of generation, resulting in lower generation costs; pooling of load, resulting in significant equalizing effects; common provisioning of reserves, resulting in cheaper primary and secondary reserve power costs; opening of the market, resulting in possibility of long-term contracts and short term power exchanges; and mutual assistance in

645-568: A day celebrated as Evacuation Day , marking when the last British forces left the city. From January 11, 1785, until 1789, New York City was the fifth of five capitals of the United States under the Articles of Confederation , with the Continental Congress meeting at New York City Hall (then at Fraunces Tavern ). New York was the first capital under the newly enacted Constitution of

774-525: A different power grid , transportation network and watershed than New York. In 2006, Governor of Pennsylvania, Ed Rendell , announced the creation of "Wall Street West" initiative to attract 20 potential Wall Street firms to move their backup facilities to Northeastern Pennsylvania in nine counties: Northampton, Berks, Monroe, Carbon, Pike, Wayne, Luzerne and Lackawanna. He also pledged to invest in office space construction, infrastructure improvement and installation of fiber optic cable from New York City to

903-465: A different region to ensure continuing, reliable power and diversify their loads. Interconnection also allows regions to have access to cheap bulk energy by receiving power from different sources. For example, one region may be producing cheap hydro power during high water seasons, but in low water seasons, another area may be producing cheaper power through wind, allowing both regions to access cheaper energy sources from one another during different times of

1032-592: A era of increasingly ubiquitous e-commerce. For Denver , Colorado, the city started picking up some shares of commercial buildings in the late 19th century. There was a push by the local politicians to transform its Seventeenth Street to become the "Wall Street of Denver" as seen in an 1892 pamphlet in promoting the Equitable Building by the Equitable Life Assurance Society . Other buildings were constructed at other corners of 17th Street such as

1161-548: A growing number of Indian restaurants and spice shops along a stretch of Lexington Avenue between 25th and 30th Streets which has become known as Curry Hill . Washington Heights in Uptown Manhattan is home to the largest Dominican immigrant community in the United States. Harlem , also in Upper Manhattan, is the historical epicenter of African American culture. Since 2010, a Little Australia has emerged and

1290-872: A language other than English at home. Points of interest on Manhattan Island include the American Museum of Natural History ; the Battery ; Broadway and the Theater District ; Bryant Park ; Central Park , Chinatown ; the Chrysler Building ; The Cloisters ; Columbia University ; Curry Hill ; the Empire State Building ; Flatiron Building ; the Financial District (including the New York Stock Exchange Building ; Wall Street ; and

1419-435: A large scale within an electrical power grid . Electrical energy is stored during times when electricity is plentiful and inexpensive (especially from intermittent power sources such as renewable electricity from wind power , tidal power and solar power ) or when demand is low, and later power is generated when demand is high, and electricity prices tend to be higher. As of 2020 , the largest form of grid energy storage

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1548-428: A local power grid, it will cause safety issue like burning out. Grids are designed to supply electricity to their customers at largely constant voltages. This has to be achieved with varying demand, variable reactive loads, and even nonlinear loads, with electricity provided by generators and distribution and transmission equipment that are not perfectly reliable. Often grids use tap changers on transformers near to

1677-521: A loss of generation capacity for customers, or excess demand. This will often cause the frequency to reduce, and the remaining generators will react and together attempt to stabilize above the minimum. If that is not possible then a number of scenarios can occur. A large failure in one part of the grid — unless quickly compensated for — can cause current to re-route itself to flow from the remaining generators to consumers over transmission lines of insufficient capacity, causing further failures. One downside to

1806-471: A lower voltage distribution network and distributed generators. Microgrids may not only be more resilient, but may be cheaper to implement in isolated areas. A design goal is that a local area produces all of the energy it uses. Example implementations include: A wide area synchronous grid , also known as an "interconnection" in North America, directly connects many generators delivering AC power with

1935-507: A multibillion-dollar rebuilding plan was unveiled to restore the historic grandeur of Penn Station, in the process of upgrading the landmark's status as a critical transportation hub . The 700,000 sq ft (65,000 m ) Moynihan Train Hall , developed as a $ 1.6 billion renovation and expansion of Penn Station into the James A. Farley Building , the city's former main post office building,

2064-534: A new 20-story building in the Exchange Place area . The new Harborside Financial Center was built with anticipation of more relocations. Daiwa Securities , Royal Bank of Canada , and Chase Manhattan Bank were planning to have their major workforce there. Another major development in Exchange Place started with a plan to redevelop the 34-acre former Colgate-Palmolive soap factory in 1988. The first building

2193-563: A regional scale or greater that operates at a synchronized frequency and is electrically tied together during normal system conditions. These are also known as synchronous zones, the largest of which is the synchronous grid of Continental Europe (ENTSO-E) with 667  gigawatts (GW) of generation, and the widest region served being that of the IPS/UPS system serving countries of the former Soviet Union. Synchronous grids with ample capacity facilitate electricity market trading across wide areas. In

2322-456: A security risk. Particular concerns relate to the more complex computer systems needed to manage grids. A microgrid is a local grid that is usually part of the regional wide-area synchronous grid but which can disconnect and operate autonomously. It might do this in times when the main grid is affected by outages. This is known as islanding , and it might run indefinitely on its own resources. Compared to larger grids, microgrids typically use

2451-520: A series of spontaneous, violent protests by members of the gay community against a police raid that took place in the early morning hours of June 28, 1969, at the Stonewall Inn in the Greenwich Village neighborhood of Lower Manhattan. They are widely considered to constitute the single most important event leading to the gay liberation movement and the modern fight for LGBT rights . In

2580-610: A share of financial companies starting in the early part of the 1900s. The new financial buildings were concentrating along South Spring Street. The title of "Wall Street of the West" was used and the Spring Street Financial District was born. The district continued to flourish for many decades until the 1960s when companies started shifting toward the western part of the downtown area. By the early 1980s, partly due to bank mergers and consolidations, many buildings were empty and

2709-548: A state-funded economic development network, worked closely with the Pennsylvania Department of Labor and Industry and Community and Economic Development to develop a proposal for the federal grants through Workforce Innovation in Regional Economic Development (WIRED). The management was later turned to an independent unit called Wall Street West with a 17-member Executive Committee. In June 2007,

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2838-664: A widely connected grid is thus the possibility of cascading failure and widespread power outage . A central authority is usually designated to facilitate communication and develop protocols to maintain a stable grid. For example, the North American Electric Reliability Corporation gained binding powers in the United States in 2006, and has advisory powers in the applicable parts of Canada and Mexico. The U.S. government has also designated National Interest Electric Transmission Corridors , where it believes transmission bottlenecks have developed. A brownout

2967-467: A wildlife sanctuary, and several lawns and sporting areas, as well as 21 playgrounds, and a 6-mile (9.7 km) road from which automobile traffic has been banned since 2018. While much of the park looks natural, it is almost entirely landscaped; the construction of Central Park in the 1850s was one of the era's most massive public works projects, with some 20,000 workers moving 5 million cubic yards (3.8 million cubic meters) of material to shape

3096-552: A year. In 1961, the struggling Pennsylvania Railroad unveiled plans to tear down the old Penn Station and replace it with a new Madison Square Garden and office building complex. Organized protests were aimed at preserving the McKim, Mead & White -designed structure completed in 1910, widely considered a masterpiece of the Beaux-Arts style and one of the architectural jewels of New York City. Despite these efforts, demolition of

3225-524: Is three-phase . Three phase, compared to single phase, can deliver much more power for a given amount of wire, since the neutral and ground wires are shared. Further, three-phase generators and motors are more efficient than their single-phase counterparts. However, for conventional conductors one of the main losses are resistive losses which are a square law on current, and depend on distance. High voltage AC transmission lines can lose 1-4% per hundred miles. However, high-voltage direct current can have half

3354-581: Is a name from the Dutch colonial era after Haarlem , a city in the Netherlands. Some have simple folkloric names, such as Hell's Kitchen , alongside their more official but lesser used title (in this case, Clinton). Some neighborhoods, such as SoHo , which is mixed use, are known for upscale shopping as well as residential use. Others, such as Greenwich Village , the Lower East Side , Alphabet City and

3483-885: Is a wide-area transmission network that is intended to make possible the trade of high volumes of electricity across great distances. It is sometimes also referred to as a mega grid . Super grids can support a global energy transition by smoothing local fluctuations of wind energy and solar energy . In this context they are considered as a key technology to mitigate global warming . Super grids typically use High-voltage direct current (HVDC) to transmit electricity long distances. The latest generation of HVDC power lines can transmit energy with losses of only 1.6% per 1000 km. Electric utilities between regions are many times interconnected for improved economy and reliability. Electrical interconnectors allow for economies of scale, allowing energy to be purchased from large, efficient sources. Utilities can draw power from generator reserves from

3612-498: Is an intentional or unintentional drop in voltage in an electrical power supply system. Intentional brownouts are used for load reduction in an emergency. The reduction lasts for minutes or hours, as opposed to short-term voltage sag (or dip). The term brownout comes from the dimming experienced by incandescent lighting when the voltage sags. A voltage reduction may be an effect of disruption of an electrical grid, or may occasionally be imposed in an effort to reduce load and prevent

3741-678: Is bounded by the Hudson River to the west and the East River to the east. To the north, the Harlem River divides Manhattan Island from the Bronx and the mainland United States. Early in the 19th century, land reclamation was used to expand Lower Manhattan from the natural Hudson shoreline at Greenwich Street to West Street . When building the World Trade Center in 1968, 1.2 million cubic yards (920,000 m ) of material excavated from

3870-422: Is dammed hydroelectricity , with both conventional hydroelectric generation as well as pumped storage hydroelectricity . Developments in battery storage have enabled commercially viable projects to store energy during peak production and release during peak demand, and for use when production unexpectedly falls giving time for slower responding resources to be brought online. Two alternatives to grid storage are

3999-504: Is growing in Nolita, Lower Manhattan. Manhattan has two central business districts, the Financial District at the southern tip of the island, and Midtown Manhattan . The term uptown also refers to the northern part of Manhattan above 72nd Street and downtown to the southern portion below 14th Street , with Midtown covering the area in between, though definitions can be fluid. Fifth Avenue roughly bisects Manhattan Island and acts as

Wall Street West - Misplaced Pages Continue

4128-552: Is land and 10.8 square miles (28 km ) (32%) is water. The northern segment of Upper Manhattan represents a geographic panhandle . Manhattan Island is 22.7 square miles (59 km ) in area, 13.4 miles (21.6 km) long and 2.3 miles (3.7 km) wide, at its widest point, near 14th Street . The borough consists primarily of Manhattan Island, along with the Marble Hill neighborhood and several small islands, including Randalls Island and Wards Island and Roosevelt Island in

4257-651: Is relatively evenly spread throughout the year. Average winter snowfall between 1981 and 2010 has been 25.8 inches (66 cm); this varies considerably from year to year. Manhattan's many neighborhoods are not named according to any particular convention, nor do they have official boundaries. Some are geographical (the Upper East Side ), or ethnically descriptive ( Little Italy ). Others are acronyms , such as TriBeCa (for "TRIangle BElow CAnal Street") or SoHo ("SOuth of HOuston"), NoLIta ("NOrth of Little ITAly"), and NoMad ("NOrth of MADison Square Park"). Harlem

4386-417: Is simply rerouted while repairs are done. Because the power is often generated far from where it is consumed, the transmission system can cover great distances. For a given amount of power, transmission efficiency is greater at higher voltages and lower currents. Therefore, voltages are stepped up at the generating station, and stepped down at local substations for distribution to customers. Most transmission

4515-413: Is stepped down again to the required service voltage. Power stations are typically built close to energy sources and far from densely populated areas. Electrical grids vary in size and can cover whole countries or continents. From small to large there are microgrids , wide area synchronous grids , and super grids . The combined transmission and distribution network is part of electricity delivery, known as

4644-411: Is stored in the immediate short term by the rotational kinetic energy of the generators. Although the speed is kept largely constant, small deviations from the nominal system frequency are very important in regulating individual generators and are used as a way of assessing the equilibrium of the grid as a whole. When the grid is lightly loaded the grid frequency runs above the nominal frequency, and this

4773-408: Is taken as an indication by Automatic Generation Control systems across the network that generators should reduce their output. Conversely, when the grid is heavily loaded, the frequency naturally slows, and governors adjust their generators so that more power is output ( droop speed control ). When generators have identical droop speed control settings it ensures that multiple parallel generators with

4902-902: Is the world's seventh-tallest building (as of 2023) . The Occupy Wall Street protests in Zuccotti Park in the Financial District of Lower Manhattan began on September 17, 2011, receiving global attention and spawning the Occupy movement against social and economic inequality worldwide. On October 29 and 30, 2012, Hurricane Sandy caused extensive destruction in the borough, ravaging portions of Lower Manhattan with record-high storm surge from New York Harbor, severe flooding, and high winds, causing power outages for hundreds of thousands of city residents and leading to gasoline shortages and disruption of mass transit systems. The storm and its profound impacts have prompted discussion of constructing seawalls and other coastal barriers around

5031-464: Is the economic engine of New York City , with its 2.45 million workers drawn from the entire New York metropolitan area accounting for almost more than half of all jobs in New York City. Manhattan's workforce is overwhelmingly focused on white collar professions. In 2010, Manhattan's daytime population was swelling to 3.94 million, with commuters adding a net 1.48 million people to

5160-566: Is the final stage in the delivery of power; it carries electricity from the transmission system to individual consumers. Substations connect to the transmission system and lower the transmission voltage to medium voltage ranging between 2  kV and 35 kV . But the voltage levels varies very much between different countries, in Sweden medium voltage are normally 10  kV between 20 kV . Primary distribution lines carry this medium voltage power to distribution transformers located near

5289-584: Is the maximum power output on a grid that is immediately available over a given time period, and is a far more useful figure. Most grid codes specify that the load is shared between the generators in merit order according to their marginal cost (i.e. cheapest first) and sometimes their environmental impact. Thus cheap electricity providers tend to be run flat out almost all the time, and the more expensive producers are only run when necessary. Failures are usually associated with generators or power transmission lines tripping circuit breakers due to faults leading to

Wall Street West - Misplaced Pages Continue

5418-618: Is the most expensive shopping street in the world. The borough hosts many prominent bridges , tunnels , and skyscrapers including the Empire State Building , Chrysler Building , and One World Trade Center . It is also home to the National Basketball Association 's New York Knicks and the National Hockey League 's New York Rangers . Manhattan was historically part of the Lenapehoking territory inhabited by

5547-405: Is the process of generating electric power at power stations . This is done ultimately from sources of primary energy typically with electromechanical generators driven by heat engines from fossil , nuclear , and geothermal sources, or driven by the kinetic energy of water or wind. Other power sources are photovoltaics driven by solar insolation, and grid batteries . The sum of

5676-690: Is well suited for the foundations of Manhattan's skyscrapers . It is part of the Manhattan Prong physiographic region. Under the Köppen climate classification , New York City features both a humid subtropical climate ( Cfa ) and a humid continental climate ( Dfa ); it is the northernmost major city on the North American continent with a humid subtropical climate. The city averages 234 days with at least some sunshine annually. Winters are cold and damp, and prevailing wind patterns that blow offshore temper

5805-656: The American Revolutionary War . The Continental Army was forced to abandon Manhattan after the Battle of Fort Washington on November 16, 1776. The city, greatly damaged by the Great Fire of New York during the campaign, became the British military and political center of operations in North America for the remainder of the war. British occupation lasted until November 25, 1783, when George Washington returned to Manhattan,

5934-700: The Boston Building in 1890 and the Ideal Cement Building in 1907. By that time, 17th Street had begun to be referred to as the "Wall Street of the West." After the Colorado National Bank (First National Bank) was constructed in 1911, it reaffirmed its central business district's Wall Street status. 17th Street was also called the "Wall Street of the Rockies" at a later time as it attracted other premier financial institutions. Los Angeles also picked up

6063-553: The East Village , have long been associated with the Bohemian subculture. Chelsea is one of several Manhattan neighborhoods with large gay populations and has become a center of both the international art industry and New York's nightlife. Chinatown has the highest concentration of people of Chinese descent outside of Asia . Koreatown is roughly centered on 32nd Street between Fifth and Sixth Avenues. Rose Hill features

6192-577: The Embarcadero . In 2012, when the Occupy movement had a protest at the San Francisco's Financial District as a continuation of Occupy San Francisco , the protesters went through the financial district under the banner Occupy Wall Street West giving the shorter name of the financial district than its typical name as Wall Street of the West. However, the COVID-19 pandemic in the United States accelerated

6321-873: The FBI as "something of a deadly dress rehearsal for 9/11", was a terrorist attack in which six people were killed when a van bomb filled with explosives was detonated in a parking lot below the North Tower of the World Trade Center complex . On September 11, 2001, the Twin Towers of the original World Trade Center were struck by hijacked aircraft and collapsed in the September 11 attacks launched by al-Qaeda terrorists. The collapse caused extensive damage to surrounding buildings and skyscrapers in Lower Manhattan, and resulted in

6450-572: The Harlem and Hudson rivers, separated it from the remainder of Manhattan. Before World War I, the section of the original Harlem River channel separating Marble Hill from the Bronx was filled in, and Marble Hill became part of the mainland. After a May 1984 court ruling that Marble Hill was simultaneously part of the Borough of Manhattan (not the Borough of the Bronx) and part of Bronx County (not New York County),

6579-524: The Hearst Tower , the rebuilt 7 World Trade Center , and the Bank of America Tower —the first skyscraper designed to attain a Platinum LEED Certification. The skyscraper , which has shaped Manhattan's distinctive skyline , has been closely associated with New York City's identity since the end of the 19th century. Structures such as the Equitable Building of 1915, which rises vertically forty stories from

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6708-470: The Munsee , Lenape , and Wappinger tribes . There were several Lenape settlements in the area including Sapohanikan , Nechtanc , and Konaande Kongh , which were interconnected by a series of trails. The primary trail on the island, which would later become Broadway , ran from what is now Inwood in the north to Battery Park in the south. There were various sites for fishing and planting established by

6837-671: The South Street Seaport ); Grand Central Terminal ; Greenwich Village (including New York University ; Washington Square Arch ; and Stonewall Inn ); Harlem and Spanish Harlem ; the High Line ; Koreatown ; Lincoln Center ; Little Australia ; Little Italy ; Madison Square Garden ; Museum Mile on Fifth Avenue (including the Metropolitan Museum of Art ); Penn Station , Port Authority Bus Terminal ; Rockefeller Center (including Radio City Music Hall ); Times Square ; and

6966-496: The U.S. mainland . Manhattan Island is divided into three informally bounded components, each cutting across the borough's long axis: Lower Manhattan, Midtown , and Upper Manhattan. Manhattan is one of the most densely populated locations in the world, with a 2020 census population of 1,694,250 living in a land area of 22.66 square miles (58.69 km ), or 72,918 residents per square mile (28,154 residents/km ), and coextensive with New York County, its residential property has

7095-552: The Western United States , the name " Wall Street of the West " has been used in the latter part of the 19th century. Montgomery Street in San Francisco has been known by that nickname to date. Other places were known by that name for a period of time until the industry moved out to other areas. Montgomery Street in San Francisco started its transformation from the street with wood shacks, warehouses and retail stores in

7224-514: The World Trade Center (including the National September 11 Museum and One World Trade Center ). There are also numerous iconic bridges across rivers that connect to Manhattan Island, as well as an emerging number of supertall skyscrapers . The Statue of Liberty rests on Liberty Island , an exclave of Manhattan, and part of Ellis Island is also an exclave of Manhattan. The borough has many energy-efficient office buildings, such as

7353-466: The citadel of Fort Amsterdam on Manhattan Island, later called New Amsterdam ( Nieuw Amsterdam ), in what is now Lower Manhattan. The establishment of Fort Amsterdam is recognized as the birth of New York City. In 1647, Peter Stuyvesant was appointed as the last Dutch Director-General of the colony. New Amsterdam was formally incorporated as a city on February 2, 1653. In 1664, English forces conquered New Netherland and renamed it "New York" after

7482-470: The deaths of 2,606 of the 17,400 who had been in the buildings when the planes hit, in addition to those on the planes. Since 2001, most of Lower Manhattan has been restored, although there has been controversy surrounding the rebuilding. In 2014, the new One World Trade Center , at 1,776 feet (541 m) measured to the top of its spire, became the tallest building in the Western Hemisphere and

7611-567: The five boroughs of New York City . Coextensive with New York County , Manhattan is the smallest county by geographical area in the U.S. state of New York . Located almost entirely on Manhattan Island near the southern tip of the state, Manhattan constitutes the center of the Northeast megalopolis and the urban core of the New York metropolitan area . Manhattan serves as New York City's economic and administrative center and has been described as

7740-552: The power grid . Grids are nearly always synchronous, meaning all distribution areas operate with three phase alternating current (AC) frequencies synchronized (so that voltage swings occur at almost the same time). This allows transmission of AC power throughout the area, connecting the electricity generators with consumers. Grids can enable more efficient electricity markets . Although electrical grids are widespread, as of 2016 , 1.4 billion people worldwide were not connected to an electricity grid. As electrification increases,

7869-865: The private sector jobs in Jersey City. Within the Financial Service cluster, there are three major sectors: more than 60 percent are in the securities industry ; 20 percent are in banking ; and 8 percent in insurance . After the September 11 attacks, the U.S. Securities and Exchange Commission , the Federal Reserve and the Office of the Comptroller of the Currency recommended that the data backup facilities of Wall Street firms should be moved away from New York City with

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7998-655: The topography and create the English-style pastoral landscape that Olmsted and Vaux sought. The remaining 70% of Manhattan's parkland includes 204 playgrounds, 251 Greenstreets, 371 basketball courts , and many other amenities. The next-largest park in Manhattan, the Hudson River Park , stretches 4.5 miles (7.2 km) along the Hudson River and comprises 550 acres (220 ha). Other major parks include: Manhattan

8127-516: The world's tallest building . Manhattan's majority white ethnic group declined from 98.7% in 1900 to 58.3% by 1990. On March 25, 1911, the Triangle Shirtwaist Factory fire in Greenwich Village killed 146 garment workers , leading to overhauls of the city's fire department, building codes , and workplace safety regulations. In 1912, about 20,000 workers, a quarter of them women, marched upon Washington Square Park to commemorate

8256-484: The "Wall Street West" expanded to include the entire waterfront area from Newport to Exchange Place. After the September 11 attacks , there were renewed interests from financial firms to diversify their workforce to be outside of Manhattan. At the same time, there was an immediate need to find office space for misplaced workers who used to work in the Lower Manhattan area. Office space in Jersey City's waterfront became boom again due to its proximity to Lower Manhattan and

8385-686: The 1,537,195 counted in the 2000 census . In 2010, the largest organized religious group in Manhattan was the Archdiocese of New York , with 323,325 Catholics worshiping at 109 parishes, followed by 64,000 Orthodox Jews with 77 congregations, an estimated 42,545 Muslims with 21 congregations, 42,502 non-denominational adherents with 54 congregations, 26,178 TEC Episcopalians with 46 congregations, 25,048 ABC-USA Baptists with 41 congregations, 24,536 Reform Jews with 10 congregations, 23,982 Mahayana Buddhists with 35 congregations, 10,503 PC-USA Presbyterians with 30 congregations, and 10,268 RCA Presbyterians with 10 congregations. Altogether, 44.0% of

8514-425: The 1850s. By the 1870s, more notable buildings were constructed to replace the old wood shacks and the mud flats . The street continued to develop from that point with financial services companies located in that area. The Montgomery Street has been known as "Wall Street of the West" to date. The Financial District has been expanded to cover the triangular area east of Grant Avenue, south of Washington Street, west of

8643-452: The 1920s, Manhattan experienced large arrivals of African-Americans as part of the Great Migration from the southern United States, and the Harlem Renaissance , part of a larger boom time in the Prohibition era that included new skyscrapers competing for the skyline, with the Woolworth Building (1913), 40 Wall Street (1930), Chrysler Building (1930) and the Empire State Building (1931) leapfrogging each other to take their place as

8772-440: The 1970s, job losses due to industrial restructuring caused New York City, including Manhattan, to suffer from economic problems and rising crime rates. While a resurgence in the financial industry greatly improved the city's economic health in the 1980s, New York's crime rate continued to increase through the decade and into the beginning of the 1990s. The 1980s saw a rebirth of Wall Street , and Manhattan reclaimed its role as

8901-417: The 19th century, the island was named so for a grove of hickory trees at its southern end that was considered ideal for the making of bows. In April 1524, Florentine explorer Giovanni da Verrazzano , sailing in service of Francis I of France , became the first documented European to visit the area that would become New York City. Verrazzano entered the tidal strait now known as The Narrows and named

9030-435: The Atlantic port to the vast agricultural markets of the Midwestern United States and Canada . Tammany Hall , a Democratic Party political machine , began to grow in influence with the support of many of the immigrant Irish , culminating in the election of the first Tammany mayor, Fernando Wood , in 1854. Covering 840 acres (340 ha) in the center of the island, Central Park , which opened its first portions to

9159-558: The ENTSO-E in 2008, over 350,000 megawatt hours were sold per day on the European Energy Exchange (EEX). Each of the interconnects in North America are run at a nominal 60 Hz, while those of Europe run at 50 Hz. Neighbouring interconnections with the same frequency and standards can be synchronized and directly connected to form a larger interconnection, or they may share power without synchronization via high-voltage direct current power transmission lines ( DC ties ), or with variable-frequency transformers (VFTs), which permit

9288-558: The East River; and Governors Island and Liberty Island to the south in New York Harbor . The Island is about 13.4 miles (21.6 km) from north to south, and at its widest, 2.3 miles (3.7 km). Manhattan Island is loosely divided into Downtown ( Lower Manhattan ), Midtown ( Midtown Manhattan ), and Uptown ( Upper Manhattan ), with Fifth Avenue dividing Manhattan lengthwise into its East Side and West Side . Manhattan Island

9417-677: The English Duke of York and Albany , the future King James II. In August 1673, the Dutch reconquered the colony, renaming it "New Orange", but permanently relinquished it back to England the following year under the terms of the Treaty of Westminster that ended the Third Anglo-Dutch War . Manhattan was at the heart of the New York Campaign , a series of major battles in the early stages of

9546-528: The Lenape throughout Manhattan. The name Manhattan originated from the Lenape 's language, Munsee , manaháhtaan (where manah- means "gather", -aht- means " bow ", and -aan is an abstract element used to form verb stems ). The Lenape word has been translated as "the place where we get bows" or "place for gathering the (wood to make) bows". According to a Munsee tradition recorded by Albert Seqaqkind Anthony in

9675-665: The Spring Street showed no sign of its past as one of the financial centers. Fort Worth, Texas was known as the "Wall Street of the West" starting in the early 1900s similarly to Los Angeles's South Spring Street. However, it was not the financial companies that gave Fort Worth Stockyards its Wall Street name, but the livestock trading. In 1902, the Livestock Exchange Building was constructed to house many livestock commission companies, telegraph offices, railroad offices and other support businesses. The business grew to

9804-588: The United Nations is located in the Turtle Bay neighborhood of Midtown Manhattan. Manhattan hosts three of the world's top 10 most-visited tourist attractions: Times Square , Central Park , and Grand Central Terminal . Penn Station is the busiest transportation hub in the Western Hemisphere . Chinatown incorporates the highest concentration of Chinese people in the Western Hemisphere. Fifth Avenue

9933-687: The United States , from March 4, 1789, to August 12, 1790, at Federal Hall . Federal Hall was where the United States Supreme Court met for the first time, the United States Bill of Rights were drafted and ratified, and where the Northwest Ordinance was adopted, establishing measures for admission to the Union of new states. New York grew as an economic center, first as a result of Alexander Hamilton 's policies and practices as

10062-472: The area for many years. As the economy started to recover between 2011 and 2012, large leases started to pick up again, especially in the Newport area with major financial institutions such as Citigroup and Fidelity Investments . Depository Trust and Clearing Corporation also moved the majority of its workforce from Manhattan to Jersey City. Currently, "Wall Street West" employment contributes to one-third of

10191-523: The city became a hotbed of revolution (including anarchists and communists among others), syndicalism , racketeering , and unionization . In 1883, the opening of the Brooklyn Bridge across the East River established a road connection to Brooklyn and the rest of Long Island . In 1898, New York City consolidated with three neighboring counties to form "the City of Greater New York ", and Manhattan

10320-561: The city's skyline, most notably the Empire State Building, the Chrysler Building, and 30 Rockefeller Plaza . A postwar economic boom led to the development of huge housing developments targeted at returning veterans, the largest being Stuyvesant Town–Peter Cooper Village , which opened in 1947. The United Nations relocated to a new headquarters that was completed in 1952 along the East River. The Stonewall riots were

10449-1046: The coldest winter month. Spring and autumn are unpredictable and can range from chilly to warm, although they are usually mild with low humidity. Summers are typically warm to hot and humid, with a daily mean temperature of 76.5 °F (24.7 °C) in July. Nighttime conditions are often exacerbated by the urban heat island phenomenon, which causes heat absorbed during the day to be radiated back at night, raising temperatures by as much as 7 °F (4 °C) when winds are slow. Daytime temperatures exceed 90 °F (32 °C) on average of 17 days each summer and in some years exceed 100 °F (38 °C). Extreme temperatures have ranged from −15 °F (−26 °C), recorded on February 9, 1934, up to 106 °F (41 °C) on July 9, 1936. Manhattan lies in USDA plant hardiness zone 7b (5 to 10 °F/-15 to -12.2 °C). Manhattan receives 49.9 inches (1,270 mm) of precipitation annually, which

10578-467: The consumers to adjust the voltage and keep it within specification. In a synchronous grid all the generators must run at the same frequency, and must stay very nearly in phase with each other and the grid. Generation and consumption must be balanced across the entire grid, because energy is consumed as it is produced. For rotating generators, a local governor regulates the driving torque, maintaining almost constant rotation speed as loading changes. Energy

10707-429: The course of a whole 24 hour period. An entire synchronous grid runs at the same frequency, neighbouring grids would not be synchronised even if they run at the same nominal frequency. High-voltage direct current lines or variable-frequency transformers can be used to connect two alternating current interconnection networks which are not synchronized with each other. This provides the benefit of interconnection without

10836-458: The cultural, financial, media , and entertainment capital of the world. Present-day Manhattan was originally part of Lenape territory. European settlement began with the establishment of a trading post by Dutch colonists in 1624 on southern Manhattan Island; the post was named New Amsterdam in 1626. The territory and its surroundings came under English control in 1664 and were renamed New York after King Charles II of England granted

10965-456: The customer's premises. Distribution transformers again lower the voltage to the utilization voltage . Customers demanding a much larger amount of power may be connected directly to the primary distribution level or the subtransmission level. Distribution networks are divided into two types, radial or network. In cities and towns of North America, the grid tends to follow the classic radially fed design. A substation receives its power from

11094-472: The decade to 1,694,250, representing 19.2% of New York City's population of 8,804,194 and 8.4% of New York State's population of 20,201,230. The population density of New York County was 70,450.8 inhabitants per square mile (27,201.2/km ) in 2022, the highest population density of any county in the United States and higher than the density of any individual U.S. city . At the 2010 census , there were 1,585,873 people living in Manhattan, an increase of 3.2% from

11223-407: The demarcation line for east/west designations. South of Waverly Place , Fifth Avenue terminates and Broadway becomes the east/west demarcation line. In Manhattan, uptown means north and downtown means south. This usage differs from that of most American cities, where downtown refers to the central business district. As of the 2020 census , Manhattan's population had increased by 6.8% over

11352-508: The event of disturbances. One disadvantage of a wide-area synchronous grid is that problems in one part can have repercussions across the whole grid. For example, in 2018 Kosovo used more power than it generated due to a dispute with Serbia , leading to the phase across the whole synchronous grid of Continental Europe lagging behind what it should have been. The frequency dropped to 49.996 Hz. This caused certain kinds of clocks to become six minutes slow. A super grid or supergrid

11481-416: The ferry services which were not affected by the attacks. By the end of September 2001, ten of the largest 18 firms from the World Trade Center area including American Express and Deutsche Bank moved some of their operations to Jersey City. Goldman Sachs at the time were planning to move its headquarters to the new building being constructed in Jersey City. The boom since 2001 was short-lived. By 2007,

11610-503: The fire. Many of the women wore fitted tucked-front blouses like those manufactured by the company, a clothing style that became the working woman's uniform and a symbol of women's liberation , reflecting the alliance of the labor and suffrage movements. Despite the Great Depression , some of the world's tallest skyscrapers were completed in Manhattan during the 1930s, including numerous Art Deco masterpieces that are still part of

11739-599: The first Secretary of the Treasury to expand the city's role as a center of commerce and industry. By 1810, New York City, then confined to Manhattan, had surpassed Philadelphia as the most populous city in the United States. The Commissioners' Plan of 1811 laid out the island of Manhattan in its familiar grid plan . The city's role as an economic center grew with the opening of the Erie Canal in 1825, cutting transportation costs by 90% compared to road transport and connecting

11868-481: The highest sale price per square foot in the United States. Manhattan is home to Wall Street as well as the world's two largest stock exchanges by total market capitalization , the New York Stock Exchange and Nasdaq . Many multinational media conglomerates are based in Manhattan, as are numerous colleges and universities, such as Columbia University and New York University . The headquarters of

11997-542: The initiative received an $ 8 million commitment from Level 3 Communications for a $ 40 million project to build a new fiber optic network from Manhattan to East Stroudsburg with a branched-off network in Warren County in New Jersey. This was to address the shortcoming of direct high-speed communication which was required by Wall Street firms. However, by June 2008, the initiative was unable to attract any Wall Street firm to

12126-470: The land around Upper New York Harbor New Angoulême , in reference to the family name of King Francis I; he sailed far enough into the harbor to sight the Hudson River , and he named the Bay of Santa Margarita – what is now Upper New York Bay – after Marguerite de Navarre , the elder sister of the king. Manhattan was first mapped during a 1609 voyage of Henry Hudson . Hudson came across Manhattan Island and

12255-495: The lands to his brother, the Duke of York . New York, based in present-day Lower Manhattan , served as the capital of the United States from 1785 until 1790. The Statue of Liberty in New York Harbor greeted millions of arriving immigrants in the late 19th century and is a world symbol of the United States and its ideals. Manhattan became a borough during the consolidation of New York City in 1898 , and houses New York City Hall ,

12384-542: The losses of AC. Over very long distances, these efficiencies can offset the additional cost of the required AC/DC converter stations at each end. Substations may perform many different functions but usually transform voltage from low to high (step up) and from high to low (step down). Between the generator and the final consumer, the voltage may be transformed several times. The three main types of substations, by function, are: Aside from transformers, other major components or functions of substations include: Distribution

12513-554: The matter was definitively settled later that year when the New York Legislature overwhelmingly passed legislation declaring the neighborhood part of both New York County and the Borough of Manhattan. Within New York Harbor , there are three smaller islands: Other smaller islands, in the East River , include (from north to south): The bedrock underlying much of Manhattan consists of three rock formations: Inwood marble , Fordham gneiss , and Manhattan schist , and

12642-669: The moderating effects of the Atlantic Ocean , yet the Atlantic and the partial shielding from colder air by the Appalachians keep the city warmer in the winter than inland North American cities at similar or lesser latitudes. The daily mean temperature in January, the area's coldest month, is 32.6 °F (0.3 °C); temperatures usually drop to 10 °F (−12 °C) several times per winter, and reach 60 °F (16 °C) several days in

12771-466: The native people living there, and continued up the river that would later bear his name, the Hudson River . Manhattan was first recorded in writing as Manna-hata , in the logbook of Robert Juet, an officer on the voyage. A permanent European presence in New Netherland began in 1624, with the founding of a Dutch fur trading settlement on Governors Island . In 1625, construction was started on

12900-694: The need to synchronize an even wider area. For example, compare the wide area synchronous grid map of Europe with the map of HVDC lines. The sum of the maximum power outputs ( nameplate capacity ) of the generators attached to an electrical grid might be considered to be the capacity of the grid. However, in practice, they are never run flat out simultaneously. Typically, some generators are kept running at lower output powers ( spinning reserve ) to deal with failures as well as variation in demand. In addition generators can be off-line for maintenance or other reasons, such as availability of energy inputs (fuel, water, wind, sun etc.) or pollution constraints. Firm capacity

13029-541: The number of people with access to grid electricity is growing. About 840 million people (mostly in Africa), which is ca. 11% of the World's population, had no access to grid electricity in 2017, down from 1.2 billion in 2010. Electrical grids can be prone to malicious intrusion or attack; thus, there is a need for electric grid security . Also as electric grids modernize and introduce computer technology, cyber threats start to become

13158-462: The original World Trade Center , which was destroyed during the September 11, 2001 terrorist attacks . Situated on one of the world's largest natural harbors , the borough is bounded by the Hudson , East , and Harlem rivers and includes several small adjacent islands , including Roosevelt , U Thant , and Randalls and Wards Islands . It also includes the small neighborhood of Marble Hill now on

13287-400: The peak at 1944 which processed 5,277,496 head of livestock. After that year, the livestock exchange business started to decline until its low point in 1986. The Livestock Exchange Building is now a historical site. Manhattan Manhattan ( / m æ n ˈ h æ t ən , m ə n -/ man- HAT -ən, mən- ) is the most densely populated and geographically smallest of

13416-835: The population was claimed as members by religious congregations, although members of historically African-American denominations were underrepresented due to incomplete information. In 2014, Manhattan had 703 religious organizations, the seventeenth most out of all US counties. There is a large Buddhist temple in Manhattan located at the foot of the Manhattan Bridge in Chinatown . As of 2015, 60.0% (927,650) of Manhattan residents, aged five and older, spoke only English at home, while 22.63% (350,112) spoke Spanish, 5.37% (83,013) Chinese, 2.21% (34,246) French, 0.85% (13,138) Korean, 0.72% (11,135) Russian, and 0.70% (10,766) Japanese. In total, 40.0% of Manhattan's population, aged five and older, spoke

13545-601: The population, along with visitors, tourists, and commuting students. The commuter influx of 1.61 million workers coming into Manhattan was the largest of any county or city in the country. Power grid An electrical grid (or electricity network ) is an interconnected network for electricity delivery from producers to consumers. Electrical grids consist of power stations , electrical substations to step voltage up or down, electric power transmission to carry power over long distances, and finally electric power distribution to customers. In that last step, voltage

13674-559: The power outputs of generators on the grid is the production of the grid, typically measured in gigawatts (GW). Electric power transmission is the bulk movement of electrical energy from a generating site, via a web of interconnected lines, to an electrical substation , from which is connected to the distribution system. This networked system of connections is distinct from the local wiring between high-voltage substations and customers. Transmission networks are complex with redundant pathways. Redundancy allows line failures to occur and power

13803-532: The public in 1858, became the first landscaped public park in an American city. New York City played a complex role in the American Civil War . The city had strong commercial ties to the South , but anger around conscription , resentment against Lincoln's war policies and paranoia about free Blacks taking the jobs of poor immigrants culminated in the three-day-long New York Draft Riots of July 1863, among

13932-443: The region with an exception of one financial services related company. A company which hosted compliance solutions for financial services opened its new data center in the region with 10 job creation. By that time, Level 3 Communications indicated that it would not build the fiber optic link unless more financial services firms commit to locate in the region and buy services from them. Part of the difficulties in attracting more companies

14061-532: The region. The region was chosen as it was still within 125 miles (201 km) from Manhattan which was considered far enough to sustain a major disaster but still within the range of instantaneous data transmission via fiber optics. The first project was Penn Regional Business Center in Monroe County. At the beginning of the initiative, Ben Franklin Technology Partners of Northeast Pennsylvania (BFTP/NEP),

14190-725: The same relative frequency to many consumers. For example, there are four major interconnections in North America (the Western Interconnection , the Eastern Interconnection , the Quebec Interconnection and the Texas Interconnection ). In Europe one large grid connects most of Western Europe . A wide area synchronous grid (also called an "interconnection" in North America) is an electrical grid at

14319-512: The same settings share load in proportion to their rating. In addition, there's often central control, which can change the parameters of the AGC systems over timescales of a minute or longer to further adjust the regional network flows and the operating frequency of the grid. For timekeeping purposes, the nominal frequency will be allowed to vary in the short term, but is adjusted to prevent line-operated clocks from gaining or losing significant time over

14448-574: The seat of the city's government . Harlem in Upper Manhattan became the center of what is now known as the cultural Harlem Renaissance in the 1920s. The Stonewall Inn in Greenwich Village , part of the Stonewall National Monument , is considered the birthplace in 1969 of the modern gay rights movement , cementing Manhattan's central role in LGBT culture . Manhattan was the site of

14577-570: The shorelines of the borough and the metropolitan area to minimize the risk of destructive consequences from another such event in the future. On October 31, 2017 , a terrorist drove a truck down a bike path alongside the West Side Highway in Lower Manhattan, killing eight. According to the United States Census Bureau , New York County has a total area of 33.6 square miles (87 km ), of which 22.8 square miles (59 km )

14706-432: The sidewalk, prompted the passage of the 1916 Zoning Resolution , requiring new buildings to contain setbacks withdrawing progressively at a defined angle from the street as they rose, in order to preserve a view of the sky at street level. Manhattan's skyline includes several buildings that are symbolic of New York, in particular the Chrysler Building and the Empire State Building , which sees about 4 million visitors

14835-535: The site was used to expand the Manhattan shoreline across West Street, creating Battery Park City . Constructed on piers at a cost of $ 260 million, Little Island opened on the Hudson River in May 2021, connected to the western termini of 13th and 14th Streets by footbridges . Marble Hill was part of the northern tip of Manhattan Island, but the Harlem River Ship Canal , dug in 1895 to better connect

14964-619: The structure began in October 1963. The loss of Penn Station led directly to the enactment in 1965 of a local law establishing the New York City Landmarks Preservation Commission , which is responsible for preserving the "city's historic, aesthetic, and cultural heritage ". The historic preservation movement triggered by Penn Station's demise has been credited with the retention of some one million structures nationwide, including over 1,000 in New York City. In 2017,

15093-404: The substation, but for reliability reasons, usually contains at least one unused backup connection to a nearby substation. This connection can be enabled in case of an emergency, so that a portion of a substation's service territory can be alternatively fed by another substation. Grid energy storage (also called large-scale energy storage ) is a collection of methods used for energy storage on

15222-433: The transmission network, the power is stepped down with a transformer and sent to a bus from which feeders fan out in all directions across the countryside. These feeders carry three-phase power, and tend to follow the major streets near the substation. As the distance from the substation grows, the fanout continues as smaller laterals spread out to cover areas missed by the feeders. This tree-like structure grows outward from

15351-414: The use of peaking power plants to fill in supply gaps and demand response to shift load to other times. The demand, or load on an electrical grid is the total electrical power being removed by the users of the grid. The graph of the demand over time is called the demand curve . Baseload is the minimum load on the grid over any given period, peak demand is the maximum load. Historically, baseload

15480-513: The vacancy rate had increased and some financial firms had scaled down their plans. UBS changed their plans to fully occupy the newly constructed building. Goldman Sachs only partially occupied its building and planned to build a new headquarters in New York. Wall Street West suffered further by the 2008 financial crisis . The office space vacancy rate spiked as investment bank tenants started collapsing. The downturn economy dampened real estate growth in

15609-469: The world's financial center , with Wall Street employment doubling from 1977 to 1987. The 1980s also saw Manhattan at the heart of the AIDS crisis , with Greenwich Village at its epicenter. In the 1970s, Times Square and 42nd Street – with its sex shops , peep shows , and adult theaters, along with its sex trade , street crime, and public drug use – became emblematic of the city's decline, with

15738-529: The world." By the 1990s, crime rates began to drop dramatically and the city once again became the destination of immigrants from around the world, joining with low interest rates and Wall Street bonus payments to fuel the growth of the real estate market. Important new sectors, such as Silicon Alley , emerged in the Flatiron District , cementing technology as a key component of Manhattan's economy. The 1993 World Trade Center bombing , described by

15867-578: The worst incidents of civil disorder in American history. The rate of immigration from Europe grew steeply after the Civil War, and Manhattan became the first stop for millions seeking a new life in the United States, a role acknowledged by the dedication of the Statue of Liberty in 1886. This immigration brought further social upheaval. In a city of tenements packed with poorly paid laborers from dozens of nations,

15996-482: The year. Neighboring utilities also help others to maintain the overall system frequency and also help manage tie transfers between utility regions. Electricity Interconnection Level (EIL) of a grid is the ratio of the total interconnector power to the grid divided by the installed production capacity of the grid. Within the EU, it has set a target of national grids reaching 10% by 2020, and 15% by 2030. Electricity generation

16125-466: Was 101 Hudson Street with more than 3,000 back-office workers of Merrill Lynch and Lehman Brothers moved in by 1993. On the northern end of Jersey City's waterfront, another major development called Newport was started in the late 1980s. It was planned as a mixed-use community with office, residential and retail buildings. By early 2001, Newport had gained major tenants including UBS , Knight Capital , and Insurance Services Office By that time,

16254-404: Was commonly met by equipment that was relatively cheap to run, that ran continuously for weeks or months at a time, but globally this is becoming less common. The extra peak demand requirements are sometimes produced by expensive peaking plants that are generators optimised to come on-line quickly but these too are becoming less common. However, if the demand of electricity exceed the capacity of

16383-620: Was established as one of the five boroughs of New York City . The Bronx remained part of New York County until 1914, when Bronx County was established. The construction of the New York City Subway , which opened in 1904, helped bind the new city together, as did the completion of the Williamsburg Bridge (1903) and Manhattan Bridge (1909) connecting to Brooklyn and the Queensboro Bridge (1909) connecting to Queens. In

16512-439: Was opened in January 2021. Parkland covers a total of 2,659 acres (10.76 km ), accounting for 18.2% of the borough's land area; the 840-acre (3.4 km ) Central Park is the borough's largest park, comprising 31.6% of Manhattan's parkland. Designed by Frederick Law Olmsted and Calvert Vaux , the park is anchored by the 12-acre (4.9 ha) Great Lawn and offers extensive walking tracks , two ice-skating rinks,

16641-622: Was that many financial institutions were more comfortable with the shorter range of 70 kilometres (43 mi) from Manhattan which caused many financial firms to build out their new data centers in Central New Jersey instead. Without a commitment from financial services companies, the decision was made in 2009 to expand the Wall Street West mission to include healthcare, advanced materials and diversified manufacturing, and logistics and transportation industries. For those locations in

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