From the August issue: For more than a century, Tribeca was a de facto pantry, as its
industrial blocks warehoused fruit, spices, vegetables, and most
notably, butter and eggs.
But starting in the 1960s, the Downtown neighborhood — which is
bounded by Canal Street, Broadway, the former World Trade Center site
and the Hudson River — began to give up its perishable goods for
people, in a profound way. Brick and Beaux Arts lofts located along
wide cobblestone streets began to be converted into apartments.
In fact, those historic buildings, which sit in the 10007 and 10013
zip codes, became some of the priciest homes in New York City.
But since the downturn hit, the real estate market in Tribeca has
been in serious trouble. According to sales figures, the area appears
to be in far worse shape than many other comparable neighborhoods.
Tribeca’s Transaction Tally for June
