The Real Deal New York

Quiet enclave near Holland Tunnel becomes haven for wealthy buyers

March 15, 2012 01:30PM

Wealthy homebuyers are flocking to a secluded area north of Tribeca, but don’t expect destination restaurants to follow.

The New York Post names a group of new condominiums, including 250 West Street, 471 Washington Street, 1 North Moore Street, 60 Collister Street, 482 Greenwich Street and 52 Laight Street, that have recently sprouted north of Tribeca and south of Hudson Square, off the western most part of Canal Street. The buildings have been selling quickly because their location, just off the Holland Tunnel exit — where few streets carry traffic — creates a quiet, enclosed area.

No matter how quickly the new developments fill up, their retail spaces will “never have a nightclub,” according to Steven Kamali, a restaurant and bar advisor in Manhattan. Developers fear buyers don’t want to live above a restaurant and “the comunity board in Tribeca is adamant about restricting night life,” he said.

As a result families are quickly filling up the largest units in the buildings. In addition to the quiet lifestyle, they’re attracted to the recent development of Pier 25, according to John Gomes, the managing director of Prudential Douglas Elliman who markets three VE Equities buildings in the neighborhood.

The developer, which built the aforementioned 1 North Moore, 471 Washington Street and 60 Collister Street, will soon bring two new condos to the neighborhood: 290 West Street and an 80,000-square-foot development “within a block of 1 North Moore.” [Post]