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06 Mar 2019

Tribeca is now one of the richest neighborhoods in the U.S.

Tribeca is now one of the richest neighborhoods in the U.S.
There’s a lot of wealth contained within the small area defined by 10007

It’s no secret that New York City is the residence of choice for plenty of millionaires (and even billionaires), and the high-priced properties that they call home. But where, exactly, is the highest concentration of wealth—looked at by average adjusted gross income—in the city?

It’s not Midtown, where a smattering of ridiculously expensive luxury towers have sprouted in the past few years. And it’s not the Upper East Side, onetime epicenter of old money and Gilded Age opulence. Nope, the richest zip code in New York is 10007 in Tribeca, with an average adjusted gross income of $879,000, according to Bloomberg, which regularly compiles a list of the country’s wealthiest environs.

Close observers of the major developments in New York real estate probably won’t be surprised by Tribeca’s inclusion on the list. The neighborhood has long been a celebrity favorite—Robert de Niro is a longtime resident, and John F. Kennedy Jr. brought it to national attention in the 1990s—and is regularly at the top of the list of the city’s priciest enclaves as determined by the price of residential real estate.

“It’s very subtle wealth,” Darren Sukenik, the director of luxury sales at Douglas Elliman, told Bloomberg. “You don’t know who is behind which door in Tribeca.”

Among the buildings that have contributed to the income bump in 10007 are 111 Murray Street, 101 Warren Street, 30 Park Place (which developer Larry Silverstein endorsed with his own condo purchase), and 100 Barclay Street. (Some of Tribeca’s buzziest buildings—celebrity hotspot 443 Greenwich Street, and 70 Vestry, home of the $55 million penthouse—are outside of the 10007 zip code.)

And there’s even more new Tribeca development on the horizon: At 45 Park Place, condos are listed from $2 million a pop, and closings have yet to begin; ditto 30 Warren Street, where closings are due to begin later this year, and apartments are also going from $2 million.

Still, it doesn’t come close to the No. 1 spot on Bloomberg’s list: That would be Fisher Island in Florida, with an average adjusted gross income of $2.2 million.

Source: Curbed New York

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