Chibeca: The Tribeca Development Boon East of Broadway

Written By Bryan Gamble | January 03, 2014
2019%2f09%2f13%2f12%2f31%2f14%2f1be62d3e c183 40b7 b157 49cd3dfffa44%2ffile

It’s not news that New York City’s recently flourishing real estate market has to do with an influx of luxury residential development but this demand has largely been limited to select areas. However this is slowly changing, in Tribeca at least, where property value has skyrocketed in the area along Broadway over the past quarter of this year. The area between Worth and Walker Streets, east of Broadway, has been dubbed ‘Chibeca’ by some for its proximity to Chinatown. Considerable interest from luxury condominium developers, renowned architects, realtors and, most importantly, high-income buyers, promises to transform the area dramatically. New developments, such as 93 Worth Street and 101 Leonard, have high demand and are rapidly selling units even before completion. The staggeringly massive increase in value to area properties speaks for renewed interest in the area. Square foot values have soared upwards of $1,500 per square foot in select developments and may still rise. 

The interest in this area of Tribeca lends itself in part to the Hurricane Sandy-conscious real estate market. The developing area is outside of Tribeca’s traditional core neighborhood and is not in the flood zone that was so badly damaged due to the storm. People have subsequently expressed interest in relocating eastwards, away from the water and the potential risk of ‘traditional’ Tribeca

Matching the spike in demand for residential space in the area is increasing commercial realty prices. Prime commercial real estate in new developments is also witnessing an increase in value to cope with the inevitable need to have local shops and boutiques for incoming residents. 

Some have commented that the area is perfect due to its proximity to the World Trade Center and the Fulton Street transit hub. The revitalized area’s potential for residences, hotels and retail make all parties involved very hopeful for the near future. Until construction completes and moving trucks arrive, we can only wait in anticipation to see if reality matches expectation.

Blog Archive


This information is not verified for authenticity or accuracy and is not guaranteed and may not reflect all real estate activity in the market. © 2021 REBNY Listing Service, Inc. All rights reserved. RLS IDX Data display by Elegran LLC. IDX information is provided exclusively for consumers’ personal, non- commercial use and that it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.

Elegran LLC may or may not be the exclusive listing agent of the properties being displayed on All data displayed on is presented for informational purposes only and should be independently confirmed by all customers. All Information is compiled from both public and private sources including, but not limited to the RLS, MLS and ACRIS; each of which is assumed to be reliable. All information displayed is subject to errors and omissions regarding apartment specifications and final sale prices, and further, any unit listed may have had its listing withdrawn without notice subsequent to such information being compiled. No representation is made as to the accuracy of any description (ie: listing, close sale data, and/or building description) of any building or individual unit. All measurements and square footage are approximate and all information herein should be confirmed by customer and/or their attorney. Elegran LLC, its members, affiliates, and contributors adhere to New Your City, New York State, and United States Fair Housing Laws.