Tribeca is one of those Manhattan neighborhoods whose reputation precedes it. Nestled between Soho, Battery Park and the Financial District in Lower Manhattan, Tribeca is a hip and artsy neighborhood that everyone has heard of but only a selected few actually know anything about. Tribeca, as it currently stands, encompasses the triangular area south of Canal Street (the name is derived from the phrase ‘triangle below canal’) from Broadway to West Street and extends its reach as far south as Chambers Street.
In spite of the great modernization that happened during the latter half of the 20th century, Tribeca still retains its historical essence. The old factories and warehouses that once served New York City’s textile and cotton trade industry have long been converted into commodious, high-ceiling residential lofts. At around the same time, similar efforts were also put into place in the neighboring SoHo-Cast Iron Historic District. Today the area is brimming with luxury rental apartments, condos, and co-ops for sale in addition to the lofts that Tribeca is famous for. While the area was once extremely popular among young artists and their families in the 1960s and 70s, the neighborhood demographic has shifted towards working professionals with nearby offices in Lower Manhattan.
As a New York City neighborhood, Tribeca first gained international notoriety after the introduction of the Tribeca Film Festival in 2002. In recent years, the Tribeca Film Festival drew an estimated international audience of 3 million people. Annually, it draws in $600 million in revenues and helps to sustain the neighborhood economically. In addition to being a hub for filmmakers and film enthusiasts alike, Tribeca is also the home to the former New York Mercantile Exchange, Washington Market Park, and New York Law School. Tribeca is also known for having an extremely high concentration of critically acclaimed restaurants, bars, and art galleries. In the end, it is the mix of past and present that makes Tribeca such a beautiful neighborhood to live in.