TRIBECA IS #3
Works fine for me because…Hudson Yards?? I never would have guessed that one. Who wants to live in a mall? Anyway, The Times has a story on the city’s most expensive neighborhoods, and we clock in at #3, behind HY and Soho. Our median sale price for this past quarter was $2.9 million. The city average was $785K in early 2024, according to this report from Comptroller Brad Lander.
THE MILLER FAMILY TRAGEDY
The Times has a most-read story in the tragedy behind Brandon Miller, who died by suicide on July 3, and his family’s debt and real estate frauds. “How an Instagram-Perfect Life in the Hamptons Ended in Tragedy” partly takes place in Tribeca, where Miller lived in the building he and his father built — 137 Franklin, the former empty wedge at the bottom of Varick. It’s a complicated, sad tale.
DISNEY WRAPPING UP IN HUDSON SQUARE
Yimby reports that construction is just about done at the new Disney HQ — a 22-story tower at 7 Hudson Square on Spring and Varick, where the original City Winery was. “Designed by Skidmore, Owings & Merrill and developed by Silverstein Properties, 338-foot-tall structure will yield 1.2 million square feet of offices, film and production studios, and ground-floor retail space.”
570 WASHINGTON ON THE WAY UP
Not in our backyard, but still of note due to its proximity to Pier 40: construction is well underway at 570 Washington, the block-square site just north of the new Google building. Designed by COOKFOX Architects and developed by Zeckendorf Development, Atlas Capital, and The Baupost Group, the site will eventually be a $1.25 billion complex with a 29- and 36-story tower rising 400 and 450 feet and will have 100 condos and 175 affordable senior living homes and commercial on the lower levels. The senior living will be in the tower called 570 Washington; the condos will be in 80 Clarkson. YIMBY has the full story here.
To call Hudson Yards a neighborhood is a total misnomer. It is essentially 2 super-luxury high rises, with minimum prices of $5 million or more. Even if you extend the boundary a bit beyond the actual HY development zone, it then includes a couple of additional super-luxury high rises built in the last 5 years. So, Tribeca is really #2 right behind its immediate neighbor to the north.
Yeah, reading the actual PropertyShark report gives a better sense of the market. The median sale price of $7.5M in Hudson Yards was based on just 5 sales. It’s a tiny market with little activity. For comparison, Tribeca had 69 sales (surpassing SoHo’s 37 and Hudson Square’s 17).
https://www.propertyshark.com/Real-Estate-Reports/priciest-nyc-neighborhoods/
We love our neighbors! Would love to read more stories about events, businesses and real estate in Tribeca.
I never would have guessed that one. Who wants to live in a mall?
Funny, that’s what I’ve always said about Battery Park City!!