Manhattan Neighborhood Market Report: TRIBECA Real Estate Guide

TRIBECA -  10013  - The name is an abbreviation of: TRIANGLE BELOW CANAL

Tribeca, Manhattan's downtown neighborhood runs from Canal Street south to Park Place, and from the Hudson River east to Broadway. Tribeca's charming cobblestone streets are lined with spacious residential loft buildings that were converted from industrial warehouses. There are new glass condo lofts, restaurants and boutiques.

 TRIBECA LOFTS

Tribeca only became one of Manhattan's most fashionable places to live in the last 15 years. The neighborhood has evolved from an in expensive area where shopkeeper's and artisans, who could not afford the higher rents along the East River, built their wooden houses in the 18th century. After the Civil War, the area became home to the city's produce sellers and remained the central produce district until the 1960's.  Prior to it's new name Tribeca the neighborhood was referred to as Washington Market or the Lower West Side.

Artists began moving into the area in the 70's, followed by celebrities and trendy restaurants like Tribeca Grill, Nobu and TriBakery. The big loft spaces have attracted buyers from all over. Tribeca has good schools and multi million dollar homes.

The Tribeca Film Center is a commercial building in Tribeca where film, television and entertainment companies such as Miramax films are located.

The Tribeca Film Festival was founded in 2002 by Robert DeNiro as a response to the attacks on the World trade Center to help promote economic and cultural revitalization of lower Manhattan and promote NYC as a major filmmaking center.

The area suffered financially after 9/11. Today Tribeca is a fashionable affluent Manhattan residential neighborhood. It is a mixure of old industrial warehouse spaces to new glass lofts. Tribeca zip code 10013 was recently ranked by Forbes Magazine one of America's most expensive zip codes

Tribeca Landmarks:

The Holland Tunnel (connects New York to New Jersey)

Washington Market Park

Borough of Manhattan Community College

Stuyvesant High School - "Stuy High" (one of New York City's top academic High Schools)

PS 234 (considered one of Manhattan's best public elementary schools)

Tribeca by the Numbers:

New York, NY 10013

Median Sale Price: 1st Q-07 $1,956,500      1st Q-06 $1,872,500

Price per Sq Foot:  1stQ-07 $$1,094            1st Q-06 $1,092