"Little Italy" doesn't exist anymore, in terms of Italians living in the area, anyway. The tourist trap restaurants will always be around, though. Manhattan realtors just refer to the entire area as "SoHo" now. I recently posted this stat in another thread:

According to the December, 2010 census, out of the 8600 people currently residing in the area once known as "Little Italy," less than 5% of them are Italian-American, and not a single one of them was born in Italy. With those numbers you can't expect the Italian mob to thrive in an area like that. They always depended on neighborhood people to be their "eyes and ears," in terms of looking out for strangers (read: law enforcement).

Today, even if they weren't a shadow of their former selves, who could the Italian mob depend on to watch out for them? The Yuppies? The Chinese? Not likely. Old Manhattan is gone for good, a fact that I lament here quite often .