New York City is known for its high rents and standard of living. That’s why the old song says you can make it anywhere if you can manage in the Big Apple. However, most people probably couldn’t guess which neighborhood is home to the wealthiest people.
Midtown and the Upper East Side were once iconic for their high-wealth status. Midtown is the home of many impressive high-rise luxury towers, and the Upper East Side was the home of old money moguls and opulence from a bygone era. However, according to the Bloomberg list of wealthiest areas, the zip code with the richest people is 10007, which belongs to the Tribeca neighborhood.
Famous neighborhoods like the Upper East Side and Greenwich Village are known for being expensive, but they don’t match Tribeca. For the first time, this formerly industrial area made the top 20 richest zip codes list as the fifth wealthiest neighborhood in the US. Amazingly, this neighborhood has moved from 22nd place to fifth place in only one year.
Tribeca is home to A-list celebrities such as Harry Styles, Justin Timberlake and Meg Ryan, and the average yearly income of this area’s residents is a whopping $879,000. Other celebrity residents in Tribeca include Robert De Niro, and John F. Kennedy Jr. also lived there. The neighborhood’s upscale nature is not obvious, which might make it appealing to celebrities. It’s hard to tell who lives in which homes.
So, the question is, why does this area attract such high-income individuals? According to the president of a prominent real estate firm in Manhattan, the prevalence of green areas and the unique architecture could be some important factors. For example, Hudson Park had a huge impact on changing the look and atmosphere of the neighborhood. Real estate experts say this has pulled some people over from Greenwich Village.
Some new high-end residences such as 30 Park Place have also brought in some wealthy people. The penthouse on the 80th floor of this building was sold in 2018 for a whopping $32.6 million. The recent rise in real estate prices in Soho is another factor that has helped bolster Tribeca.
Although Tribeca has taken the top spot for the rich in New York, it doesn’t even come close to being as expensive as the wealthiest neighborhood in the US. This distinction belongs to Fisher Island in Florida, whose residents have an average annual income of around $2.2 million.