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Snapshot: Tribeca

Buying
What $2.5M will get you in this hot NYC ‘hood

Ah, TriBeCa. She is the Queen Bee of former-industrial-turned-residential neighborhoods, and as much as we love a good underdog, she is not one. Back in the 1970s, artists flocked to this (TRIangle BElow CAnal) neighborhood of cobblestone streets for inexpensive live/work spaces. Today, the area is prime real estate people willing to pay big money (think Taylor Swift, Beyonce, Meryl Streep).  We get it. TriBeCa locals have easy access to the best of New York City everything (food, shopping, art) in a residential setting and without the frenzy associated with many Manhattan neighborhoods. And yet, for a bit of welcome frenzy, one need only hop on a bike or hoof it to nearby SoHo, Little Italy, or Chinatown.

Are you crushing on the Queen Bee, too? Our friends Bradley Cockrell and Vanessa Low Mendelson say you don’t have to be a multi-bazillionaire to live there (though it doesn’t hurt if you are). They’ve provided some details below. You know, in case you want to turn your TriBeCa crush into a full-fledged commitment.

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Gillian Tennant Tribeca Loft

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 What will $2.5M buy?

 *Vanessa says:

For this amount, you can get a really great two-bedroom, two- to three-bath, 1,600 square foot open loft space with high ceilings, a trademark to the Tribeca area.  At this budget, you’re able to purchase a two bedroom with little need for renovations.

 How much rent should one  expect to pay in Tribeca?

*Vanessa and Bradley say:

The thing to know about Tribeca is there are a lot of pricing and sizing options for renters. You can find uber-luxe two-bedroom apartments, or something more “standard.”

One-bedroom rentals will typically cost $4-6K for a renovated home with modern amenities.

Two-bedroom rentals will range from $6-18K for 1,200-2,500 square feet.

Three-bedroom rentals will cost anywhere from $10-25K for a renovated, modernized 2,000-3,000 square foot home.

 Who is the Tribeca resident?

*Bradley says:

The Tribeca residential community is diverse. Empty nesters and young professionals tend to live in the southern portion of the neighborhood. On the other hand, celebrities are attracted to northern Tribeca due to the limited transportation, and prices that make homes exclusive to the wealthy.  Celebrities also have ease of access to the Westside Highway, making it a great option for those traveling to and from New York City.  In between, you’ll find a healthy mix of the art and fashion crowd, as well as families who appreciate the parks, and the well maintained, extra-wide sidewalks (perfect for strollers and handholding!).

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Bradley’s event, restaurant, and shop picks in the neighborhood:

photo credit | Gillian Tennant

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Elizabeth Salaam
Along with her work as Senior Contributing Writer for Girl's Guide, Elizabeth Salaam writes for the San Diego Reader. Her work has also been published in Elle Magazine. | Most inspired by: Contradictions. | Favorite room in my home: The Master suite. The windows have views for days! | Best design idea I may never do: Adorn my enclosed toilet room with library book wallpaper and a chandelier. | Will never: Bungee jump. | Have always been: Rebellious. | Dying to: Live in a Paris flat with herringbone wood floors.
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