Is Tribeca considered posh? Prices ...

Tribeca ApartmentsbreakCommunity ForumbreakIs Tribeca considered posh? Prices sure seem to ...

 
  • becca
    2+ weeks old

    Is Tribeca considered posh? Prices sure seem to reflect posh living. What's so great about the Tribeca neighborhood and why are average rents starting at 3500 for a one bedroom all the way to 8000 for a 3 bedroom. Is this neighborhood really that exclusive?

    • It's the size of these apartments. Many buildings in Tribeca are converted from warehouses or factory from the old days. Each floor has VERY high ceiling, as high as 25 feets! You can literally play basketball in some apartments!

      Rental or Sales price are calculated per square feet. Developers and Landlords are not stupid, they take the high ceiling into consideration when calculate the per square feet because their reasoning is that "I could have build another floor there"

    • Hi,
      It's simple supply & demand. Many people want to live downtown and live among the 'stars' so therefore there is less supply and the rents go up. This is true for most of the West Village and Soho as well. Look a little East on the Lower East Side...you will be close to the action without the price-tag (-:

    • Tribeca is definitely one of those areas that is in high demand. Many famous people live down there including Robert Deniro, Jay Z, and many others. Very quiet area at night, with great restaurants and nightlife on the major avenues.

    • Hi Becca,

      Tribeca has some of the most unique apartment layouts in Manhattan - if you prefer to live in a one-of-a kind loft space with original detailing, high ceilings, wooden beams, vaulted ceilings, cast iron columns, etc. then Tribeca is your destination next to Soho. Tribeca has some of the best schools in Manhattan which is another reason why young families like to live there. Unlike Soho, Tribeca is not overrun by tourists, it is mostly residential with not that much commerce/retail going on. On the other hand, you have some of the best restaurants in Manhattan. There are a lot of celebrities who live in Tribeca or own property in Tribeca. Maybe another reason why the prices are so 'posh'. I hope that helps you a little.
      Best wishes,
      Katrin

    • In New York neighborhoods, it's all about location and neighborhood "amenities." Tribeca has a lot to offer and is also home to a nice amount of celebrities.

    • Yes, it is all about location and living in that neighborhood allows ease of living for many a great industries and nicer apartments. Based on size, popularity and availability; the reason for the price is always based on what's available. Nice neighborhood.

    • I would say it's more uber trendy than posh. Great restaurants, proximity to art galleries and design shops, and easy access to other hip areas like SoHo and the West Village.

    • Tribeca is the hottest market in Manhattan. It attracts wealthy professionals, celebrities, and chic people from all over the world. It is somewhat private relative to the rest of the city. Newly constructed buildings in Tribeca are masterfully designed and have great amenities. I love helping my clients who are looking to locate in Tribeca because it feels like no other area in Manhattan.

      Dan Geller
      Geller Group
      Keller Williams NYC
      (646) 737-9665
      dgeller@kwnyc.com
      http://www.kw.com/kw/agent/gellergroup

    • The spaces are usually larger and LOFT type spaces for one. Also there are many new buildings so you are paying premium prices if you are in a full time doorman building.

    • Tribeca is definitely a hot neighborhood and prices have been increasing. There are a lot of lofts around the area and many celebrities have been moving here as well.

    • yes! but I also have apartments in Tribea for 3,000+. Many celebrities including Jay-z live in Tribeca. thanks!

    • Hi Becca,

      I would say to some extent the price reflects the type of spaces that are available in the neighborhood, as well as the very low vacancy rate (less than half of a percent). In addition there are number of great restaurants, parks, and local amenities, including one of the better public elementary schools in the city.

      -Nathan

    • The old capitalism foundation will always be a factor in rents. Low supply and high demand will result in higher prices. Whether or not a neighborhood is exclusive or not is not always the only factor. When an area is trendy, when you have celebrity presence, and the perception is that something is better, demand will increase, supply will continue to be limited and prices will increase.

    • The neighborhood has gotten considerably more popular over the past few years and rents now rival the West Village and other "hot spot" neighborhoods with the opening of a few trendy hotels and many trendy bars and restaurants. As well, the number of studios and one bedrooms in Tribeca are few and far between, so landlords can afford to jack up the prices for those. Tribeca has traditionally been a family neighborhood because of the schools, so many of the developments were built with only 2 bedrooms and up.

    • Posh is not a word to be used for Tribeca. Posh would be more the UES (5th, Park ave and Madison) and the Columbus Circle area. It all has to do with supply and demand, years ago Tribeca was a commercial area. After being abandonded by printing houses, manufacturing facilities and such landlords started to rent to artist who needed large spaces. It has less rental availability in comparison to the upper east and the upper westside which are concidered residential areas.
      This is considered an artsy neigborhood.