Midtown, for the Count?

Street-side, midtown’s glass walls can feel desensitizing and claustrophobic. Inside are miles of cubicles, as far as the glazed eye can see. But it is not aesthetics that have made midtown the seat of America’s financial industry.

It is the mundane: access to New York City’s superlative labor pool; fast transport to mannered estates in Westchester and New Jersey; proximity to complementary businesses. And it is the intangible: the feeling of power that washes...

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