Sandwiched in bustling Lower Manhattan between the Financial District, SoHo and Chinatown, Tribeca is an upscale and historic neighborhood with a lot to offer businesses. Though primarily known as a well-off residential community, Tribeca also holds a large number of commercial and retail businesses. One of the most desirable neighborhoods in the city, its known for its trendy appeal and large collection of 19th and early 20th century industrial buildings that have since been converted into upscale lofts and offices.
Short for “Triangle Below Canal,” the neighborhood is bounded by the Financial District to the south, SoHo to the north, Chinatown to the east and the Hudson River to the west. The neighborhood was developed rapidly in the 19th century as an industrial and commercial hub, but fell into decline shortly after World War II. However, like neighboring SoHo, it was reclaimed by artists in the 1970s and today is known as an affluent residential community with a thriving retail scene.
Tribeca is very close to the Financial District, making it very easy to reach by subway, PATH or ferry from many other parts of the city as well as the New Jersey waterfront. The neighborhood also holds a large number of historic loft buildings that are highly desirable for tech, media, advertising and creative companies. The district’s wealth of upscale shops and restaurants make it a fun, lively and vibrant place to do business as well – especially when it comes to choosing a place for lunch!
Tribeca is largely lacking in large office buildings, making it a poor choice for financial companies, law firms and other businesses that require large amounts of space. Similarly, while the neighborhood’s numerous landmark districts and strict zoning laws may have helped to preserve its historic charm, they’ve made modern office buildings very rare as well, making it difficult to find buildings with cutting-edge amenities, abundant natural light and other features of contemporary office towers. The neighborhood is also far from commuter hubs like Penn Station, Grand Central Terminal and the Port Authority Bus Terminal, so companies with large number of suburban commuters may want to look elsewhere.
Despite its drawbacks such as a lack of large, modern office buildings and limited transportation options, Tribeca is still a great location for tech firms, media companies, advertising agencies and other companies looking for a vibrant, creative place to do business. Though it may be better known as a residential community, the district’s creative vibe and close proximity to Lower Manhattan’s wide array of transportation options still make it a great deal for many businesses.