TriBeCa: Chic Neighborhood in Downtown Manhattan

TriBeCa: Chic Neighborhood in Downtown Manhattan



Located in Lower Manhattan, TriBeCa got its name from a syllabic abbreviation of "Triangle Below Canal Street". The neighborhood presents "a combination of industrial sensibility and simple sophistication". In the mid-19th century, the area was a commercial center with large numbers of loft buildings. The picture started to change in the 1960s and 1970s when Tribeca's industrial base had all vanished, and the abundance of empty commercial space attracted many painters, photographers, and sculptors to the area. Since the 1980s, large-scale conversion of the area has transformed Tribeca into an upscale residential area. By the early 21st century, Tribeca became one of Manhattan's most fashionable and desirable neighborhoods.


According to the Observer, "Tribeca has become the neighborhood of choice for those who have the means to live wherever they want". The area's chic reputation, relaxed atmosphere and proximity, and easy commute to the Financial District attract young professionals.
The area offers a variety of entertainment options, while still remaining quiet and not overcrowded. In Tribeca, you’ll hardly ever encounter jammed streets or crowds of people. 
Residents enjoy going for a relaxing walk along the charming cobblestone streets or a bike ride along the Hudson River. For fitness lovers, the area offers upscale fitness and lifestyle chains.

Things to Do and Places to Visit

On the streets of Tribeca, you will find a variety of art galleries, boutique shops, bars, and restaurants. There is a plenty of options for casual dining, including the local favorite brunch place - Bubby. The area has some of world-famous restaurants, including Bouley and Cut, New York by Wolfgang Puck.
Laughing Man, Hugh Jackman's cafe, offers a full range of traditional espresso drinks. There you'll find flat white, drip coffee, tea latte drinks, hot chocolate, and much more. Profits are donated to charity. The space is tiny but stylish. The brand's signature coffee beans and grounds, teas, and hot chocolate are also available for purchase on the Laughing Man website.
Frenchette is the new restaurant opening in Tribeca at the beginning of April. The culinary partnership of Riad Nasr and Lee Hanson is opening their own place after cooking together for 25 years. The dining experience is inspired by Paris’s flourishing bistronomy movement and a modern approach to dining. At first, the place will serve only dinner, though they have plans to serve morning till midnight. Designed in a Parisian-looking blend of Modernism and Art Deco, the restaurant offers a nice bar and two dining areas.
An upscale Manhattan neighborhood has become home to many celebrities and the Tribeca Film Festival. Since 2002 the festival presents a diverse selection of independent films and has become a recognized outlet for filmmakers in all genres. According to the NYC official guide, the 2018 program "will feature films of all stripes: crowd-pleasing blockbusters-to-be, provocative documentaries, foreign films, shorts and a cornucopia of panel discussions and lectures. There are also sections of the festival devoted to TV and online programming and experiential works, including virtual reality and multimedia projects."

Real Estate Market

The neighborhood is considered one of the most expensive in Manhattan. There are many high-rise luxury buildings in Tribeca that offer gorgeous waterfront views. The units in Tribeca are big and spacious, but residents pay a high price for square footage. Pre-war walk-ups can be more affordable, though they too are more expensive than in other areas.
The Compass website recently showed 348 properties listed for sale. Per data compiled by the Compass Market App, the median price for a studio in Tribeca is $975,000; one-bedroom - $1,725,000; two-bedroom - $2,850,000; three-bedroom- $6,495,000.
As for rentals, prices for a studio range from $2,395 to $8,500 a month; one-bedrooms from $2,650 to $7,450; two-bedrooms start from $3,000 and range to $20,000. Three bedrooms start from $6,750.

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