With its wealth of parks, shops, restaurants, and art galleries, Tribeca is one of New York City’s most desirable neighborhoods. During all of 2023 and the first 10 days of 2024, 329 residential properties were sold here. As an indication of just how coveted homes in Tribeca are, only 4% sold for less than $1 million. On the other end of the pricing range, 7% sold for $8 million-$12 million, and another 7% for more than $12 million. The plurality of the homes, 45%, sold for $1 million-$3 million; 36% cost $3 million-$8 million.
For townhouses in Tribeca, the median asking price was $18.5 million. In comparison, the median asking price for co-ops was $3.5 million and for condos $4.8 million.
As of early January 2024, 159 residential properties were for sale. While 13% were priced at more than $12 million, just 1% were asking less than $1 million. More than half—53%—were priced at $3 million-$8 million, with another 26% in the $1 million-$3 million range.
The Tribeca rental market is no less competitive. As of early January 2024, 101 residential units were available for rent, but none were priced at less than $3,500 a month. Fifty-one percent were renting for at least $9,000 a month, and 38% for $5,000-$9,000 a month. A scant 11% were available for $3,500-$5,000 a month.
Indeed, the median requested rent for a studio was $4,650 a month, and $5,980 a month for a one-bedroom unit. Rentals with four or more bedrooms were asking for a median monthly rent of $31,250.
