In the News: Europeans Ditching Lower Manhattan Real Estate

••• “European investors—who helped keep the Downtown real estate market afloat after the collapse of Lehman Brothers—are starting to bail out, thanks to high prices and favorable exchange rates against the U.S. dollar.” —New York Daily News

••• Luckily, Steven Soderbergh is here to keep pouring money into the market. He just bought an $8.3 million apartment at 7 Harrison. (Update: Note that SamanthaNYC commented that it wasn’t Soderbergh.) —New York Daily News

••• A renovation paid off at 366 Broadway. —Manhattan Loft Guy

••• The recipe for Telepan Local’s Telepan’s outstanding coconut cake. —New York Times

••• “U.S. Congressman Jerrold Nadler announced that he had obtained $2,743,000 in federal funding for Sandy-related repairs to the boiler and pump rooms at Pier 40. The funding is being provided to the Hudson River Park Trust via The Federal Emergency Management Agency’s Public Assistance Program.” —Downtown Post NYC

••• “Glory Be, 3 World Trade Center Started Rising Again.” It’ll be 80 stories when done. —Curbed

••• “The Shanghai Mermaid [is] a regular vintage costume party with changing themes held at the Down Town Association, a private club house secreted among the skyscrapers near Wall Street. […] The next ’20s themed party is Casino de Paris, which promises to be equally elegant and louche. (Note that the organizers take their vintage fashion seriously: Anyone who arrives in casual dress will be denied entry.) The event has become so popular that there is now a monthly salon called the Lotus Club and sit-down dinners at the opium-den-themed bar at the Macao Trading Co.” —New York Times



  1. the first thought I had about Telepan closing was NOOOOOOOOOO how will I ever have a slice of that coconut cake again!!! Thank you Tribeca Citizen!!!

  2. Soderbergh is not the buyer of the Atelier at 7 Harrison..same business manager as the family who bought there, but not him. Daily News et al all got it wrong.

  3. There goes the Soderbergh.