Articles on Prime Lofts

Northern Tribeca Goes Upscale in a Hurry

Add Northern TribNorthern Tribeca is rapidly becoming a hotspot for luxury condos and loftseca to the list of Manhattan micro-neighborhoods that have gone from under-the-radar to next-big-thing. This section of Tribeca stayed underdevelped for years, but no longer: developers are responding to high demand by building numerous luxury apartment buildings in Northern Tribeca. It was only a matter of time before the westernmost section of Canal Street became the next hot section of Manhattan, and now it’s Northern Tribeca’s turn in the spotlight. Pioneering Manhattanites are paying top dollar to live in this enclave, partly because it has that up-and-coming cachet that gives buyers of Manhattan luxury apartments the feeling that they’re living in the “It” neighborhood, and partly because the luxury apartments for sale in Northern Tribeca cater to current tastes. They're large, converted industrial spaces, exactly the kind of Manhattan properties that buyers of luxury apartments in Manhattan love.

The Classic Six Losing Popularity Among Manhattan Buyers

A Classic Six on the Upper East Side, formerly the most desired form of Manhattan real estate.South of Houston Street, buyers of luxury real estate have a host of great options: the lofts in landmark cast-iron SoHo buildings; brand new luxury apartments and converted office spaces in the Financial District; converted factories and warehouses in Tribeca, etc. The list goes on and on. These neighborhoods are the most popular neighborhoods in Manhattan, and the prices reflect that; SoHo and Tribeca are the most expensive places to live in the borough. One thing that you won’t often find downtown, however, is the “Classic Six,” the moniker for pre-war 2-bedrooms with a formal dining room, maid’s room, and 1 or 2 bathrooms. Long considered the height of luxury living in Manhattan, the Classic Six is struggling to maintain its status as the best that Manhattan has to offer. Judging by the prices, lofts are now equally as popular, because both sell for the same price range. Many factors have contributed to this shift, but the primary one is that Manhattan’s most popular neighborhoods simply don’t have any Classic Sixes to offer, and buyers don’t seem to have a problem with that.