How much have prices appreciated in Tribeca over hte last 2 years - thank you?

Asked by kenk2424, New York, NY Fri Jul 26, 2013

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Tony Lara, , New York, NY
Wed Aug 14, 2013
Tribeca is a melting pot, you have the old construction of mixed use, key elevator buildings on Hudson, Broadway to the new develeopment on Leonard, W.Broadway, Franklin etc...not to mention the area is small compared to other locations throughout the city. All of this will drive the price up, especially the high demand and low inventory. It's a cool place, I have friends back in the day that rented the loft, floor to ceiling windows, 18' celings, they're special. Most savy people are aware of this and want the space, not to mention it has that gritty feel to it, cobble stone streets next to high end retail and restaurants. Only in the city can you find such a mix bag. Best of luck, I"m here if you need assistance.

Tony Lara
Rutenberg Realty
Licensed Real Estate Salesperson
212-688-1000 x-426
0 votes
kenk2424, Home Owner, New York, NY
Fri Aug 9, 2013
Thanks Jacob - but what does this all say about the 39% increase reported in 2012 by Millar Samuels? No need to email the report but thanks...
0 votes
Jacob Fine, Agent, New York, NY
Thu Aug 8, 2013
Hi kenk2424,

Funny that you should ask this, as I just finished preparing a report on this for a client. I guess that makes me an expert right now (I office in Tribeca).

So prices per square foot in Tribeca have risen an average of 8% per year over the past 10 years - that compares to an average of 7% throughout lower Manhattan. That includes huge increases in 2004-2006 of 20%, 21% and 17%, but also a 5% decline in 2009. In 2012 they rose 5%, and in 2011 they rose 3%.

I'd be happy to email you the report, so feel free to contact me for that. Also I can give you more in-depth quarterly breakdowns, or we can look at specifics of 1-bedroom, studio, 2-bedroom, etc.

Its a great neighborhood to invest in because its so sought after and space for new developments is so limited.

Hope that helps!

Jacob Fine
Licensed Real Estate Salesperson
Bond New York Properties LLC
25 Hudson Street
212 792 9258
jfine@bondnewyork.com
0 votes
John Peitler, Agent, NY,
Tue Jul 30, 2013
If you are looking for something in Tribeca, please contact me. My name is Tanuja and I can be reached at 347-882-0353. Thank you and good luck.
0 votes
Donald Mituz…, Agent, Chappaqua, NY
Mon Jul 29, 2013
The report that Miller Samuel does is prepared for Douglas Elliman. You can see the report at the Douglas Elliman website at http://www.elliman.com

Don Mituzas
Licensed Associate Broker
Douglas Elliman Real Estate
Http://www.donmituzas.com
0 votes
Elena Ravich,…, Agent, New York City, NY
Sun Jul 28, 2013
According to the Miller Samual's 1Q 2013 Manhattan Residential Market Report, average price per SF in Tribeca increased since 1Q2012 by 39% - one of the highest price increases in NYC from $1,216/PSF in 1Q2012 to $ $1,696/PSF in 1Q 2013
0 votes
Wow. Much more than I thought - thank you so much! - Is there a site that I can go to get a figure from say mid year 2011 to present day? I guess I can look up "Miller Samual" - Very much appreciated.
Flag Sun Jul 28, 2013
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