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Manhattan Neighborhood Market Report: TRIBECA Real Estate Guide
By Mitchell J Hall
Real Estate Agent with Compass
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 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 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
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: Updated 2010
Forbes Magazine #12 America's Most Expensive Zip Codes
Median home price: $3,101,8487 Up 7% from 1 year ago
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Manhattan Neighborhood Real Estate Market Reports:
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Carole Cohen
Howard Hanna Cleveland City Office - Cleveland, OH
Realtor, ePRO
I was waiting for Tribeca how cool. I know almost nothing about this area even though I have spent time there. Did not realize the name was only about 15 years old. Loved the history lesson here, thanks it really sort of completes the picture for me on areas I have visited, Mitchell.
Mitchell J Hall
Compass - Manhattan, NY
Lic Associate RE Broker - Manhattan & Brooklyn
Hi Carole, The name is older than 15 years. I think it got the name in the 70's. An artist group with the name Tribeca was trying to get zoning changed to mixed use like Soho. The New York Times picked up on it and the name stuck. It's been about 15 years that is has become a really fashionable neighborhood.
Oh ok so I am not as crazy as I thought LOL. Did the zoning change work?
Yes, It has become very residential since then. (mixed use)
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