Tribeca, the triangle below Canal Street that no one really knows where the other two legs are, is synonymous for beautiful streets, celebrities, and eye-watering real estate prices. As the neighborhood grows more obtuse, with its eastern edge pushing past Broadway into Chinatown and its southern side coddling the World Trade Center, a new wave of developments are rolling with the Tribeca moniker promising more of the same oversized layouts, high-end finishes, and unencumbered views.
Looking at CityRealty closing data, condo sales prices in the neighborhood took a steep dive in 2017 after a seven-year run that more than doubled prices from $1,073 per ft² to $2,507 per ft². At its peak in spring 2017, a flurry of sales from some of the city’s most lavish developments such as the Four Seasons Private Residences at 30 Park Place, 56 Leonard, and 443 Greenwich buoyed prices. As closings in these buildings dwindled, the average sales price dipped below the $2,000 a foot mark. However, heady sales at 70 Vestry Street, 111 Murray Street, and the Woolworth Tower Residences have swelled prices once again, which average $2,236 a foot today.
100 Franklin | Condos from $3.3M | 2019
Closer to the true heart of the neighborhood rises 100 Franklin, a 10-unit condo steered by DDG that will officially begin sales in February 2019. Topped out, the project ascends from a pair of triangular lots that overlook the richly-textured intersection of Church Street and Sixth Avenue. Adding to the area’s masonry richness, the building will be clad in a rosy facade of handmade bricks by Denmark’s Petersen Tegl. Prior to construction, DDG enlisted French graffiti artist JR to create a 5-story-high art installation along the site’s lot-line wall.
Homes will have direct elevator entry and have access to a fitness center, storage, a laundry room, and bike storage. Sales will be handled by Douglas Elliman Development Marketing and prices will begin around $3.3 million. Paris- and London-based artist Charlotte Taylor has been commissioned to create permanent installations throughout the building. Her colorful spatial works portrayed through sculpture, illustration, and photography, are inspired by movements of architecture.