Tribeca is a Lower Manhattan neighborhood known for its sophisticated, trendy lofts; boutiques; and restaurants—and the price tags to match. Though it’s expensive to live here, the average salary is high, too—$879,000—and the neighborhood is widely considered the best place to live in Manhattan.
Tribeca began as a mostly industrial area then became a haven for artists and is now an upscale, mostly residential area. However, it does offer some office space as well. Most of the buildings in Tribeca are short compared to those in other parts of the city. Tribeca office spaces tend to overlook Hudson River Park.
Tribeca enjoys one of the lowest populations of any NYC district at around 18,000 people, contributing to a more relaxed pace of living compared to neighboring communities. Locals are proud of Tribeca’s status as one of the safest neighborhoods in the city. The neighborhood has seen a 56 percent decrease in major felony crimes since 2001.
What Our Brokers Say About Tribeca Office Space for Lease
Tribeca office space tenants include a variety of tech and media companies, financial institutions, retailers, and advertising agencies seeking flexibility and open floor space. Companies also come to Tribeca for a reprieve from more hectic neighborhoods such as SoHo and the Financial District, while still maintaining easy access by public transit or bicycle. Tribeca also boasts a highly educated workforce. Local businesses can recruit interns or find new hires from the local Manhattan Community College located in Tribeca.
Some of the notable companies that rent office space in Tribeca include Havas Worldwide, Citigroup, DigitalOcean, Wieden & Kennedy, Warby Parker, Edelman, Rent the Runway, and Two Sigma Investments. Tribeca also has a growing small business community, with around 11,000 local businesses. The Tribeca Alliance provides events, resources, and a voice for small businesses in Tribeca. One of the notable contributions of Tribeca’s small business community is the Tribeca Film Festival, which has showcased independent films since its inception in 2002. Around 3 million people attend this event, including many celebrities.
Though the heart of Tribeca is primarily residential, Hudson Square is an almost entirely commercial real estate district just north of Canal Street, with notably less expensive asking rents. It has a high concentration of media companies.
In part because Tribeca is a residential community, it has a lot of desirable amenities like beautiful parks, great places to eat, upscale gyms, and interesting places to shop. According to WalkScore, Tribeca is the 15th most walkable neighborhood in New York. Hudson River Park spans from 59th Street to Battery Park and is filled with pedestrian and bicycle paths, while Washington Market Park offers sports courts, a community garden, and an attractive playground for families. While you’re walking around, don’t forget to look for celebrities. Locals have run into Meryl Streep, Gwyneth Paltrow, Jon Stewart, and Billy Crystal, to name a few.
With lots of greenery, inviting park space, and cobblestone streets to take in, commuting on foot or taking a leisurely walk during lunch in Tribeca is ideal. In addition to our Tribeca Lunch Guide, we recommend La Colombe Coffee, Konditori, The Odeon, Mulberry & Vine, Laughing Man Coffee (founded by Hugh Jackman), and the Brandy Library. Most bars and restaurants are known for being open late into the night, so there’s no need to rush out of the office! Employees looking for a fitness center in the area can check out Crunch Fitness, Planet Fitness, or Exceed Physical Culture, all conveniently located in Tribeca. West Broadway and Hudson Street are probably the best two places to go shopping.
Tribeca Commercial Space For Lease | By the numbers
|Office Space for Rent||Price per square foot
Tribeca Office Space | Lease Data & Trends
Commercial real estate sources combine Tribeca with a neighboring district—City Hall. Together, the two neighborhoods house approximately 17.3 million square feet of rentable office space. As of Q1 2019, almost 5 percent of the total inventory was vacant and available to new renters. Office space seekers in Tribeca can expect to find rental prices averaging $64 per square foot, which is on par with the Downtown average.
Tribeca/City Hall has about three times as much Class B office space as Class A. The Class A space costs about $64 per square foot to rent, while the Class B space costs an average of $60 per square foot.
Getting Around: Transportation in Tribeca
An abbreviation of “Triangle Below Canal Street,” Tribeca is actually shaped more like a trapezoid. Tribeca’s rough borders include Canal Street, West Street, and Broadway, as well as Vesey Street to the south. Tribeca is located in Lower Manhattan near SoHo, Chinatown, Little Italy, and City Hall.
Using the Subway, it’s possible to get from Tribeca to anywhere in Manhattan in less than 30 minutes or to parts of Brooklyn. By train: get to Columbus Circle in 28 minutes; Grand Central in 27 minutes; Union Square in 23 minutes; or Wall Street in 12 minutes.
Navigating Tribeca by foot, bike, Taxi, or car is easy. However, public transportation is usually the best way to get around the neighborhood. The closest stations to Tribeca are Canal Street (4-minute walk), Avenue of the Americas/West Broadway (4-minute walk), and Varick Street at North Moore Street (5-minute walk). The 1, 2, 3, A, C, E, N, Q, and R trains all stop in Tribeca, as do 26 bus lines.
Commuters from Jersey City can take the Holland Tunnel which has entrances and exits around St. John’s Park in the northwest corner of Tribeca. During high traffic, it takes about 45 to 75 minutes to cross the tunnel. PATH service to New Jersey is also available at the Park Place/Chambers Street station or further south at the World Trade Center. Employees also have the option to use ferry service that docks in the nearby Financial District and Battery Park.
The two closest major airports to Tribeca are LaGuardia Airport and Newark Liberty International Airport.
Top Commercial Properties For Lease In Tribeca
Check out the following top-notch office space recommendations in Tribeca: 99 Hudson Street, 401 Broadway, or the Ungar Building. To get advice about securing office space in this relaxed, safe community or see more listings, contact one of our experienced brokers today.
99 Hudson Street: 99 Hudson Street is a 16-story building located in the heart of Tribeca at the corner of Hudson and Franklin Streets. It was originally constructed in 1930 for industrial use then renovated in 2009. This Class B property offers 35,000 square feet of rentable office space, and currently, nine units ranging from 4,000 to 12,159 square feet in size are available for rent. Ask us for pricing, more information, or a tour. 99 Hudson Street features high ceilings, unparalleled views of the city, onsite parking, and a roof deck. Access this property via trains 1, 2, 3, 6, A, C, E, J, N, Q, R, or Z. 99 Hudson Street has a Walk Score of 98. It’s also conveniently accessible via car because the Brooklyn, Manhattan, and Williamsburg Bridges are close by, as well as the entrance to the Holland Tunnel. It has at least four local lunch spots less than .1 mile away; look up American Cut, Locande, Square Diner, and Walker’s.
401 Broadway: 401 Broadway is a 335-foot tower located at the Northwest corner of Broadway and Walker Street overlooking Downtown Manhattan, the Empire State Building, and the Hudson River. Built in 1929, this 26-story, landmarked office building offers 230,000 square feet of loft-like, Class B office space. Currently, ten units are vacant and available to new renters. The units range from 749 to 12,179 square feet in size. Contact us to learn more about pricing or to schedule a tour. 401 Broadway boasts high ceilings, natural lighting, and large windows. Use trains A, C, E, N, Q, R, W, J, Z, 6, or 1 to get here. This property is close to a variety of cafe and bar options. Visit Nicaraguan Joe Cafe, The Ship, Le Pain Quotidien, or Nancy’s Whiskey Pub just steps away from the office.
299 Broadway: 299 Broadway, sometimes referred to as the Ungar Building, is a 19-story, Class B office building that was built in 1905. Located in Lower Manhattan at the border of Tribeca and City Hall, this property was renovated in 1989 and 2007. It tends to attract law firms, financial companies, architecture companies, and media tenants. Notable current renters at 299 Broadway include the New York Society of Architects, Farber Law, Citizen Union, Olmstead Properties, and MFY Legal Services. The Ungar Building houses 231,200 square feet of space as well as 11,000 square feet of retail space. Six units ranging from 760 to 5,104 square feet in size are currently available to rent. Contact us to learn more about pricing or to request a tour of this property. Conveniently access 299 Broadway using trains A, C, E, J, N, R, Z, 1, 2, 3, 4, 5, and 6.
Tribeca Neighborhood History
Dutch settlers were among the first to live in the area now called Tribeca. Several Dutch families farmed in the region until around 1670 when the English took over the land. When Queen Anne gave the land to Trinity Church in 1705, the church built St. John’s Chapel and made plans for St. John’s Park and Hudson Square. That’s when the area became one of New York City’s very first residential neighborhoods.
In those days, New York City only took up the area now known as Manhattan. As shipping to the area increased, it shifted from the East River to the Hudson River, which brought about the growth of the Washington Market. During that time, Tribeca became the center of the dry goods and textiles industries. Original industrial buildings possessed large commercial lofts and open spaces.
By the 1970s many of these buildings were abandoned and began attracting artists of all kinds. Around that time, developers began changing some of the warehouse buildings into residential buildings. The first iteration of Tribeca’s name popped up when an artist and residential organization began calling itself the “Triangle Below Canal Block Association.” Eventually, the name was cut to just “Tribeca Block Association.” Eventually, the neighborhood itself came to be called Tribeca.
The mid-19th century saw an increase in commercial activity when people began to use the old warehouse buildings in Tribeca as storefronts. Finally, in the 1980s, Tribeca wound up as a mostly upscale residential area like it still is today.
Today, BMCC Tribeca Performing Arts Center, New York Academy of Art, One Art Space, and Tribeca Art Factory are all located in Tribeca. This district is a favorite of celebrities, most famously Robert De Niro, who founded the Tribeca Film Festival in 2003. Taylor Swift, Leonardo DiCaprio, Meryl Streep, Jon Stewart, and Beyonce also own property in the area.