My first impression is that this is going to be a hard critique. :-)
There really is nothing that I can immediately spot as a flaw here.
I like the leading lines created here that draw your attention to the older pedestrian. Both the curb, and the horizontal lines in the building draw your eye to the upper right corner of the image the the focal point of the older man. This is also enhanced by the direction the younger person is looking.
I think you did a wonderful job on the B&W conversion. I like the overall contrast and especially between the man's coat and the rest of the photo. Looking at the comments you received, it seems like you are either a fan of this style or not. You can count me as a fan.
I like your general composition, but the car in the background makes the frame feel very crowded. I am not very fond of your choice in post-processing here. In my little opinion, the object of post-processing is to make the capture look more natural, more as the eye would interpret it. Here, your choice to highlight the gentleman on the right hurts the overall image. It draws my eye directly to him and the darkness in the remainder of the frame prohibits my eye from exploring. I like a photo that draws me in and leaves me looking for more. This one draws me to the one subject and then my eye notices the irregularities of the dodging you used. Great start, but I think its just over-processed.
I would have really liked the guy on the pavement to be looking down this way... just for heightened interest level. Great conversion to B+W with nice contrasts.
An interesting image with nice details and an interesting composition. Seems rather oversharpened - strong halos particularly evident along edges of walking man's coat.