Neighborhood Spotlight: TriBeCa

Tribeca, originally written as TriBeCa, is one of my favorite Manhattan neighborhoods. Bordered by Canal Street to the north, the neighborhood derives its name from the phrase “Triangle Below Canal [Street].” Known for its spacious lofts, trendy restaurants, and quiet streets, Tribeca is also a center for history, art, and culture in New York City.

Sporting historic industrial buildings side by side with modern high-rises, the 10013 Tribeca zip code was recently named the 3rd most expensive in the United States. In fact, sale prices in the neighborhood have increased by 38.3% over the last 5 years. Tribeca’s high real estate prices are still on the rise, thanks in part to all the celebrities who have decided to call the neighborhood home. Famous residents include Meryl Streep, Claire Danes and Hugh Dancy, Jon Stewart, Jennifer Connelly and Paul Bettany, and most recently, Taylor Swift.

The median sales price on a Tribeca home is around $3 million, and the average price per square foot is $1,876 – 28.49% higher than the average for New York. The average rental cost of a non-doorman one-bedroom apartment is about $6,000, compared to $2,181 in Harlem. Doorman buildings, however, tend to be less expensive in Tribeca than in surrounding neighborhoods – in SoHo, a one-bedroom apartment in a doorman building goes for about $5,000/month, but in Tribeca the same would cost about $4,844.

The cast-iron buildings and cobblestone streets remain from Tribeca’s early days of industrial success, when it was known as the center of the city’s textile and cotton trades. Tribeca enjoyed a commercial boom during the late 1800s thanks to the construction of the IRT Broadway – Seventh Avenue Line (today’s 1 2 3 New York City subway trains). At the end of the 20th century, local artists flocked to Tribeca to escape the rising rent prices in SoHo, and the neighborhood has remained a mostly residential community since then.

In the aftermath of the September 11, 2001 terrorist attacks on the World Trade Center, Robert DeNiro and Jane Rosenthal founded the yearly Tribeca Film Festival to celebrate New York City as a mecca of art and film and to offer assistance in the long-term recovery of the city. Today, partly in thanks to the film festival, Tribeca is widely known as one of Manhattan’s safest and most prosperous neighborhoods.

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The food and drink scene tends to be upscale, as Tribeca’s romantic charm and quiet atmosphere provide a welcome escape from the hustle and bustle of the city. Locanda Verde, a family-style Italian restaurant helmed by Robert DeNiro and chef Andrew Carmellini, is located in The Greenwich Hotel, right by the Hudson River waterfront. Around the corner, you’ll find the best Indian cuisine in the city at Tamarind TriBeCa. Brushstroke offers delectable Japanese eats from David Bouley and the Osaka Tsuji Culinary Institute, with a pricey menu but 4-to-5 star ratings to indicate it’s worth the splurge.  Tribeca also offers casual dining at places such as Bubby’s, Walkers, and the original neighborhood favorite, The Odeon.

Wine lovers feel at home at Terroir, a wine bar which serves over 150 different wines. The Brandy Library, where bartenders are referred to as librarians, is a must for whiskey enthusiasts, and those looking for craft cocktails should head to Weather Up, Ward III, or Paul’s Cocktail Lounge.

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Museum options in the neighborhood include the Poster Museum, and Apexart, and there are plenty of private galleries with constantly rotating exhibitions. The Flea Theater features original works of theater and music most nights of the week, and, of course, the Tribeca Film festival, which kicked off ticket sales yesterday and begins this year on April 15th.

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