TriBeCa Real Estate Market Trends

Market Overview for Quarter 4, 2020


Median Sale Price

$3.6M

35% YoY


Median Price/Sqft

$1,664

-13% YoY


No. of Transactions

65

-41% YoY

Manhattan Median Sale Price

$1M

6% YoY

In Quarter 4, the median home sale price in TriBeCa was $3.6M, a 35% increase year-over-year. A total of 65 properties changed hands, representing a 41% contraction compared to the same month last year. The median price per square foot as of Quarter 4 was $1,664, a -13% YoY change. In Manhattan, the median home sale price was $1M.

TriBeCa Neighborhood Map

Most residential properties in TriBeCa were originally industrial buildings that have been converted into condos and lofts. A former textile center, this neighborhood includes historic buildings like the Textile Building and Powell Building. There are tons of transit options, waterfront access, and light-filled lofts in this popular neighborhood.

TriBeCa Median Sale Price

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Median Sale Price Per Square Feet

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Real Estate Transactions in TriBeCa

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Top most expensive neighborhoods in Manhattan

TriBeCa median price compared with other neighborhoods in Manhattan

TriBeCa property values are on the higher-end for neighborhoods in Manhattan .




TriBeCa median price compared with all the neighborhoods in Manhattan

Neighborhood Borough Median Sale Price
TriBeCa Manhattan $3,563,875
NoHo Manhattan $2,700,000
SoHo Manhattan $2,700,000
Hudson Yards Manhattan $2,678,750
Central Park South Manhattan $2,237,500
NoLIta Manhattan $2,225,000
Two Bridges Manhattan $2,157,681
Civic Center Manhattan $1,900,968
Hudson Square Manhattan $1,882,812
Central Midtown Manhattan $1,845,000
Chelsea Manhattan $1,593,750
Garment District Manhattan $1,502,500
NoMad Manhattan $1,490,000
Lincoln Square Manhattan $1,465,000
West Village Manhattan $1,427,500
Carnegie Hill Manhattan $1,400,000
Chinatown Manhattan $1,266,031
Flatiron District Manhattan $1,230,000
Greenwich Village Manhattan $1,147,500
Upper West Side Manhattan $1,130,000
Lenox Hill Manhattan $1,060,000
Little Italy Manhattan $999,500
Battery Park City Manhattan $994,500
Gramercy Park Manhattan $957,500
Turtle Bay Manhattan $952,000
Clinton - Hell's Kitchen Manhattan $910,000
Roosevelt Island Manhattan $895,000
Yorkville Manhattan $846,000
Theatre District - Times Square Manhattan $825,000
Sutton Place Manhattan $800,000
East Village Manhattan $795,500
Financial District Manhattan $791,000
Manhattan Valley Manhattan $723,400
Morningside Heights Manhattan $718,000
Harlem Manhattan $715,000
Lower East Side Manhattan $700,000
East Harlem Manhattan $660,000
Kips Bay Manhattan $625,000
Murray Hill Manhattan $615,000
Washington Heights Manhattan $508,750
Inwood Manhattan $460,000
Tudor City Manhattan $327,500

Residential Properties Sold in TriBeCa

Property Type Median sale price Y-o-Y Median sale price/sqft Y-o-Y Transactions
Condos $3.6M 38% $1K -9% 60
Coops $2.4M -12% $1K -9% 5
Houses - - - - 0

The median condo price in TriBeCa in Quarter 4 was $3.6M, up 38% year-over-year. Median coop sale price in TriBeCa were $2.4M, a change of -12% year-over-year. There was no statistically significant data for median house sale price activity for the period of Quarter 4 in TriBeCa.

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TriBeCa Neighborhood Guide

Tribeca oozes with New York style. Celebrities and Wall Streeters blend into a neighborhood of 19th century warehouses and factories that was virtually devoid of residences a half-century ago before the industrial buildings were herded into a collective known as Tribeca - the "Triangle Below Canal Street." This is still a young neighborhood, still building its traditions. Chic and sophisticated happily co-exist with down home and comfortable. Family living is one of the biggest draws of Tribeca where the warehouse lofts yield some of New York''s largest living spaces.

Architecture and landmarks

Like its fellow acronym-tagged neighborhood in Lower Manhattan, SoHo, Tribeca was a textile manufacturing center in the 1800s. The streets still harbor cast iron-fronted Italianate souvenirs from that era with a generous helping of Neoclassical and Art Deco office towers in the real estate market. The Neo-Gothic Woolworth Building, the world's tallest building when constructed in 1913, is tucked into the southeast corner of the neighborhood. The weathered Hook & Ladder No. 8 firehouse on North Moore Street, erected in a Beaux Arts style in 1903, has taken several star turns in Hollywood features, including Ghostbusters. The Holland Tunnel, which was the first auto tunnel into Manhattan, funnels traffic from New Jersey into New York in Tribeca.

Transport

The IRT and IND have major subway transfer stations on the north boundary at Canal Street and the south boundary at Chambers Street with several intermediate stops in between. Five subway lines cross the neighborhood.

Schools

TriBeCa-zoned public primary schools 234 and 397 are among the highest-rated in the city. However, the middle school zoned for this neighborhood is all the way north in Gramercy Park. Stuyvesant High School on Chambers Street, close-by in Battery Park City, is one of nine specialized high schools operated by the New York City Department of Education for accelerated academic. New York Law School spreads across the neighborhood in several buildings and the Borough of Manhattan Community College serves over 26,000 students.

Health

Tribeca is served by a variety of clinics and health care providers. Although enjoying no major medical facilities, there are branches of large institutions available to residents, such as the Weill Cornell Medical College on Worth Street.

Safety

Under the protection of the 1st Precinct, TriBeCa and the surrounding neighborhoods had a crime rate of 21.69 per every 1,000 residents in 2015. The NYPD declared TriBeCa the city's safest neighborhood according to crime statistics in 2010.

Things to do

With the help of neighborhood resident Robert De Niro the Tribeca Film Festival launched in 2002. It now brings three million movie lovers a year into the neighborhood. In its wake Tribeca has become something of a giant soundstage with the number of film production companies that roll their cameras here.

Many filmmakers operate out of the Tribeca Film Center and the Tribeca Performing Arts Center screens the fruits of their labors. The well-heeled residents like their neighborhood quiet and there are not many other draws for troublesome tourists. The local restaurants employ both high-profile chefs and dispensers of comfort foods.

Washington Market Park provides the primary greenspace get-away for Tribecans. Once a refuse dump, it is now a happy mix of community gardens and open lawns. Diminutive Duane Park has been a spot to relax and watch New York hurry past for the better part of two hundred years. Hudson River Park offers pedestrian and bicycle paths along the river, linking Tribeca to attractions and landmarks north and south. The park also has tennis courts, ballfields and a dog run, and is a favorite place to cool down with summer breezes off the water.