I prefer the color version, but unfortunately, I can not get beyond that white object above his head. The main subject is not separated well enough from the background for it to be a really good street portrait in my opinion. You were a bit unlucky with that pedestrian, next time wait for a clean, preferably contrasting background.
Regarding the crop I prefer the original one. It adds some local color and interesting details like that bike (?) etc, you just see more of the street. His posture reflects his rather unfriendly glance and you lose it if you crop.
In general the more you concentrate on the main subject, the more demanding is a street portrait. You can get away with some lack of sharpness or less that ideal light or an awkward posture/glance etc with a more inclusive environmental street portrait.
The tighter you crop on the subject, the more you need to judge it as just a normal portrait. And here technical excellence (or lack of it) starts to play much bigger role.
As an example: if it is a street portrait with a lot going on around the man, then reflections in his glasses are just normal reflections of the street life. As soon as you close up and crop it, these reflections become a nuisance and a technical fault.
I would like to see more of that street to be honest, I want to see the world this man lives in. But that is me, others street mileage can vary.