The Lowdown

Here's a rundown of what's going on in the neighborhood:

Obviously the recent financial crisis is wreaking havoc on the neighborhood. With lots of companies downsizing, if not going under completely, there’s a lot of empty office space and no demand for more growth, which is bad news for FiDi development.

Over at Ground Zero, Port Authority officials signed a security contract for the Freedom Tower for a jaw-dropping $20 million. The security system will reportedly include a video analytics system that can “detect abnormal situations,” whatever that means.

Not everyone is feeling the effects of the plummeting economy though. A penthouse in the luxury condominium building The Setai, New York sold for a record-setting $7.82 million. The most expensive single unit in the Financial District is about 3500 square feet, and has three bedrooms and three-and-a-half baths.

Also undaunted by economic woes? Restaurateur and celebrity chef Todd English, of “Cooking with Todd English” fame. English opened Libertine at the Gild Hall Hotel last week. The restaurant serves haute American cuisine with, according to martiniboys.com, a seriously Anglophile vibe. The Libertine doesn't have a website yet, but I'll keep you posted!

And in completely unrelated news, ABC’s hit show “Ugly Betty” premiered its third season last week. It’s the first time the Manhattan- and Queens-based show has filmed in the city. The Woolworth Building is the stand-in for the fictional “Mode” magazine’s offices, so expect to see camera crews crowd the Wall Street area.