| Interested in selling or buying real estate in Manhattan? Perhaps you are looking to put your Tribeca luxury condo or Tribeca loft on the market? Whether selling or buying, there is great value associated with all Tribeca real estate properties. In fact, Forbes magazine ranked the neighborhood’s 10013 zip code as the 12th most expensive zip code in the United States for 2006.
A prominent neighborhood located in New York City’s lower Manhattan, Tribeca is continuously up and coming among city lovers of all types. The name “TriBeCa” derives from the syllabic abbreviation of “Triangle Below Canal Street.” Tribeca real estate runs from Canal Street south to Park Place, as well as from the Hudson River east to Broadway. There are an abundance of Tribeca lofts and Tribeca luxury condos situated within the neighborhood that has undergone a major revitalization in recent years. Buildings that were once warehouses are now swanky Tribeca lofts and Tribeca luxury condos. The several businesses in the neighborhood make Tribeca real estate part of a mixed zoning neighborhood.
The name Tribeca is often mistakenly attributed by people as the “triangular shaped neighborhood,” when in fact Tribeca real estate resembles that of an irregularly shaped trapezoid.
Pricey but Worth It
Approximately 11,000 residents presently occupy Tribeca real estate. At current time, Tribeca real estate is priced as some of the highest in all of Manhattan, thanks to its noteworthy reputation as a highly fashionable, trendy residential neighborhood with a considerably affluent population. The streets boasting Tribeca lofts and Tribeca luxury condos are filled with eclectic boutique shops and world-class, high-end restaurants including the celebrity-ridden Nobu, Chanterelle, and Bouley. The world-famous Tribeca Film Festival is also held here.
Tribeca real estate is quite often the backdrop for popular Hollywood movies, including the 1984 hit movie Ghostbusters, which was filmed primarily in a Tribeca firehouse.
Architecture that is characteristic of Tribeca real estate includes various former industrial buildings that have since been converted into residential buildings such as Tribeca lofts and Tribeca luxury condos. Prior to this, in the nineteenth and early twentieth centuries, the Tribeca neighborhood was primarily a center of the textile and cotton trade.
Some of Tribeca’s most notable buildings include the Powell Building on Hudson Street, which was designed by Carrere and Hastings and built in 1892; the New York Telephone Company building at 140 West Street; the former New York Mercantile Exchange at 6 Harrison Street; and a number of neo-Renaissance White buildings that were built at the end of the Civil War in 1865.
Starting in the 1960s and 70s, the popularity of Tribeca lofts surged as abandoned and inexpensive buildings became hot-spot residences for a plethora of young artists and their families. Tribeca lofts were mostly popular due to their seclusion of lower Manhattan, as well as the vast living space they provide.
Also in the 1970s, a group of Lispenard Street artists and Tribeca real estate residents sought to gain zoning status that was similar to the nearby SoHo neighborhood. They called their group the Triangle Below Canal Block Association, but soon shortened the name to the Tribeca Block Association. This was actually how the name for the entire Tribeca neighborhood was originated.
Notable Landmarks in Tribeca
Tribeca real estate encompasses several landmarks, including the Holland Tunnel, which connects New York to New Jersey. It has both entrances and exits in the northwest corner of Tribeca, and is centered on the intersection of Canal Street and Varick Street.
Washington Market Park is another landmark that is bounded by Greenwich, Chambers, and West Streets in Upper West Side Manhattan. It is a 1.61-acre park in Tribeca that is quite popular with children thanks to its large playground. The Washington Market Park also boasts beautiful community garden and is the venue for several community events.
The Borough of Manhattan Community College (BMCC) is located in Tribeca, and is part of the City University of New York. Several students of BMCC occupy Tribeca lofts and Tribeca luxury condos. The campus is located between Chambers Street and North Moore Street, and spans a total of four blocks.
Tribeca real estate is also well known for Stuyvesant High School, one of New York City’s prized Specialized Science High Schools. The high school occupies a ten-story building and is located on Chambers Street along the Hudson River. It is easily accessible via the Tribeca Bridge, which is a pedestrian bridge over West Street.
Another school occupying Tribeca real estate is Public School 234, a zoned elementary school for Tribeca. It is situated at the corner of Chambers Street and Greenwich Street, and is often considered one of the top public elementary schools in New York City. This is due to the school’s exceptional test scores, great teachers, impressive curriculum and the building itself.
Famous Tribeca Real Estate Residents
The famous most certainly make their home in the posh Tribeca neighborhood. These famous residents include supermodels Christy Turlington and Gisele Bundchen; actors Edward Burns, James Gandolfini, Josh Hartnett, Michael Imperioli, and Harvey Keitel; singer/songwriters Mariah Carey and Hanson; actresses Sarah Michelle Gellar, Heather Graham, Gwyneth Paltrow, Amy Poehler, Meryl Streep, Kate Winslet, and Scarlett Johansson; entertainers David Letterman and Jon Stewart, and Carolyn Bessette Kennedy, wife of the late John F. Kennedy Jr. The highly acclaimed director M. Night Shyamalan also resides in Tribeca.
Actor Robert De Niro also made the news in the Tribeca neighborhood’s revival with the production of the dramatic television anthology series called TriBeCa in 1993. De Niro, along with Jane Rosenthal and Craig Hatkoff, also founded the annual Tribeca Film Festival in 2002. The actor also claimed ownership of all domain names that incorporate the text “Tribeca” with any content pertaining to film festivals.
In Response to September 11
Robert De Niro, along with cofounders Jane Rosenthal and Craig Hatkoff, founded the Tribeca Film Festival in response to the horrible attacks on the World Trade Center on September 11, 2001. The festival was founded in order to promote the economic and cultural revitalization of Lower Manhattan through a highly acclaimed annual celebration of film, music and culture. The mission of the Tribeca Film Festival is to encourage New York City as a major filmmaking center and allow its filmmakers to reach the broadest possible audience. The story of Lower Manhattan was re-written and told with the Tribeca Film Festival, which upholds a belief in the artistic process as a means to tell stories of loss and redemption, fear and prosperity, chaos and revolution with the backing of independent film at the helm.
Since the onset of the Tribeca Film Festival, Tribeca real estate has soared and the area of Lower Manhattan, which was once covered in rubble and shrouded in loss due to the 2001 attacks, has evolved into a thriving cultural and economic center.
Tribeca Film Festival is anchored in Tribeca and takes place in several neighborhoods throughout Manhattan. It attracts thousands by featuring film screenings, special events, concerts, a family street fair, and thought-provoking panel discussions.
Like Tribeca real estate, the Tribeca Film Festival will continue to grow, thanks to its extraordinary filmmakers who have taken great strides with the Festival over the years. Additional support is provided by the many sponsors, including American Express.
The venue that hosts the Tribeca Film Festival is the Tribeca Cinemas, which features two screening rooms, two separate lounges, a private VIP screening room, a full kitchen, and more.
Another organization created in response to September 11, 2001 is the Tribeca Organization, staffed mostly by volunteers and acting as a unified voice for the neighborhood by fighting for its full recovery. Members of the organization include local Tribeca real estate residents and businesses, as well as cultural and educational establishments in the neighborhood. The mission of the organization is to work toward the long-term prosperity of the neighborhood, both as a commercial and residential center, and as a prime center for arts and culture.
One of New York City’s Best
The five boroughs of New York City, which are Manhattan, Queens, The Bronx, Brooklyn, and Staten Island, each consist of several culturally diverse neighborhoods. Neighborhoods specifically located in Manhattan are not named according to any particular convention. Some Manhattan neighborhoods are named based on their geographical location, such as the Upper West Side or the Upper East Side; and others are ethnically descriptive, such as Little Italy or Chinatown. The neighborhoods of TriBeCa, SoHo, and NoHo, all have names that are acronyms.
Simply put, Tribeca real estate is one of Manhattan’s most coveted markets, thanks to its supreme location, amazing Tribeca lofts and Tribeca luxury condos, fine schools, plentiful parks, and more. And, of course just being situated in Manhattan, which is world-renowned for its incredible dining, shopping, culture, and entertainment activities, is surely enough of a reason for potential homebuyers to flock to Tribeca real estate.
There will always be people seeking to relocate to New York City not only for the reasons mentioned above, but also for the fact that the city largely contributes to the world economy and is notably considered one of the world’s “command centers.” Ask any Tribeca listing agent or Tribeca sellers agent, and he or she will tell you that the number of those seeking Tribeca lofts and Tribeca luxury condos steadily increases each year, hence contributing to the already profitable Tribeca real estate seller’s market.
Tribeca real estate will forever encompass a neighborhood that will always surprise and delight residents and visitors. The historic streets of Tribeca is home to an amazing array of culinary, architectural, and cultural delights.
For more information about Tribeca real estate, such as Tribeca lofts or Tribeca luxury condos, contact a knowledgeable and experienced Tribeca seller’s agent today. Call a Tribeca listing agent from Sellers Realty Group at 212-482-0000 for Manhattan or 718-937-7900 for Brooklyn and Queens today.
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