Karaköy (), the modern name for the old Galata, is a commercial quarter in the Beyoğlu district of Istanbul, Turkey, located at the northern part of the Golden Horn mouth on the European side of Bosphorus. Karaköy is one of the oldest and most historic districts of the city, and is today an important commercial center and transport hub. It is connected with the surrounding neighborhoods by streets radiating out from Karaköy Square. The Galata Bridge links Karaköy to Eminönü to the southwest, Tersane Street links it to Azapkapı to the west, Voyvoda Street (Bankalar Caddesi) links it to Şişhane to the northwest, the steeply sloping Yüksek Kaldırım Street links it to Pera in the north, and Kemeraltı Street and Necatibey Street link it to Tophane to the northeast. The commercial quarter, which was originally the meeting place for banks and insurance companies in the 19th century, is today also home to mechanical, electrical, plumbing and electronic parts suppliers. Etymology The word Karaköy apparently combines the Turkish words "kara", usually meaning "black", and "köy" meaning "village". In this case, however, "kara" may have come from the Turkish word "Karay", referring to the Turkic-speaking Jewish community called the Crimean Karaites. Though, linguists such as Sevan Nişanyan contest this theory by claiming that it isn't supported by written sources. History Karaköy has been a port area since Byzantine times when the north shore of the Golden Horn was a separate settlement facing Stamboul/Constantinople over the water. After the re-conquest of the city from the Latin State in 1261, the Byzantine emperor granted Genoese merchants permission to settle and do business here as part of a defense pact. The district developed rapidly, and the Genoese built sturdy fortifications to protect themselves and their warehouses. Fragments of the Genoese walls are still visible, but the Galata Tower, at the highest point, is the most substantial relic of the old walled enclave. Fifteenth-century Galata probably looked much more like an Italian city than a Byzantine or Ottoman one. In 1455, shortly after the conquest of Constantinople, the district had three categories of inhabitants: temporarily sojourning Genoese, Venetian and Catalan merchants; Genoese with Ottoman citizenship; and Greeks, Armenians and Jews. The composition of the population quickly changed: according to a census of 1478, almost half the local population was Muslim. From 1500 on, Sephardic Jews settled here after they were expelled from Spain in 1492. The