It’s pretty obvious why TriBeCa is the most popular of all NCY neighborhoods. It is filled to the brim with great apartments in old restored buildings, it has tree lined streets, a fabulous mix of cafes and restaurants, stacks of great shops, easy access to the Hudson River Park, car routes out of the city and excellent and huge subway hubs. And success begets success. Give people an unlimited amount of money and offer them an apartment or house anywhere in NYC and a lot of them are going to pick TriBeCa, it’s just got that aura about it of the place to be.
How it got to be that way is a more interesting qestion. In the early 18th Century it was just a small residential settlement on the fringes of the original city of Manhattan. It really took off in the 19th Century when it became a center of trade and commerce and large number of lofts, stores and commercial building were built along Broadway. These buildings were to form the basis of it’s mid 20th Century resurgence as a residential neighborhood as first artists of various kinds moved into the now empty lofts and the empty commercial building were recreated as apartments.
From the 1980′s it was becoming a bit too pricey for many of the artists who had originally moved in to take advantage of low rentals and others were moving in. The influence of it’s artistic roots has however not just lingered but blossomed. In 1996 the annual TriBeCa Open Artists Tour was started to help support the artists who remained and it continues to this day. TriBeCa was hard hit by 9/11 and some of it’s resident film actors and producers joined together to create the highly prestigious TriBeCa Film Festival in order to help the process of rebuilding the neighborhood.
Today it’s a byword for sophisticated NYC living, celebs send apartment prices soaring by continuing to buy into the area in droves and if you don’t trip over one as you walk around it’s cobbled streets you’re not trying.
So if you want to buy or rent in TriBeCa what you up for? If you want to buy, the median sale price for apartment is $2.6 million and you can bet that’s what you will pay for a 1 or smallish 2 bedroom. The average listing price for apartments is $8 million and if you want upwards of 2 bedrooms you need to be in the $5m range. For those unfamiliar with New York real estate it’s as well to remember that a 1 bedroom apartment in NYC is different to a 1 bedroom elsehwere. It will be tiny. As apartments in NYC get bigger you are not just buying extra bedrooms you are buying space, the most precious of all NYC possessions. Rentals will cost you $3-5,000 a month for a 1 bedroom, $5-7,000 a month for a 2 bedroom and $7,000+ for a 3 bedroom.
However those of us who cannot afford the stratospheric real estate prices can still enjoy the neighborhood just by visitng, eating in it’s restaurants and cafes and shopping in its shops. Enjoy!