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Neighborhood: Tribeca
Consistently ranked as Manhattan’s most desirable – and most expensive – neighborhood, one might wonder what makes Tribeca so great? After all, park space is a bit lacking and public transit can be distant, especially from its western border. Over and over, residents of the Triangle Below Canal say it’s the small neighborhood’s close-knit, community feel and family-friendly vibe that makes it so special.
Once known as the “Butter and Egg District,” after manufacturers and wholesalers left the area in the 1950s, Tribeca stood practically vacant for years. Like SoHo to the north, it was artists who spurred residential interest, and by the 1980s the neighborhood was becoming a chic, but far-flung, destination. Running from Canal Street to Vesey Street, between West Street and Broadway, the majority of the neighborhood east of Greenwich Street is protected by four historic districts. There you’ll find cast-iron store-and-loft buildings and massive warehouses. Recent loft conversions pepper the neighborhood, and new construction buildings are abundant, especially west of Greenwich.
Another contributor to Tribeca’s popularity and price? Size. Because nearly all residential housing was created since the 1980s, proportions are more suitable to modern living (meaning large). And, unlike the narrow streets of SoHo, Tribeca thoroughfares are wide and, at times, can feel downright deserted. If all that weren’t enough, food is top-notch in this small district. In fact, Tribeca boasts three Michelin-starred restaurants (compared to SoHo’s one).