Taking its name from the phrase “Triangle Below Canal Street,” the lower Manhattan neighborhood known as Tribeca has known several incarnations—first as the home of the famed Washington Market in colonial times, then as an industrial/commercial hub, then as a haven for artists who began converting the old warehouse lofts into live-work studio spaces in the 1970s. Today, Tribeca is a quiet upscale neighborhood tucked between the bustling Financial District and the shopping of Soho, home to many of NYC’s well-to-do.

Living in Tribeca offers many perks, including neighborhood boutiques, plenty of dining options, lovely green spaces and pleasant walking trails along the Hudson River. Since you’re on the narrow, southern end of the island, you’re also within walking distance of many other popular destinations like Little Italy, Soho and the World Trade Center. Tribeca is particularly known for fine dining establishments like Marc Forgione and Bâtard, as well as for its low-key nightlife. Restaurants and bars stay open later than in other parts of town, but it never gets too noisy, making it a great place for a late-night drink with friends.

Housing options in Tribeca are as diverse as its history. Many of the converted lofts are still in play (mostly renovated), along with a large selection of luxury high-rises and some row homes. Living here is not cheap—with median sale prices exceeding $3 million, Tribeca is New York’s most expensive zip code—but you can occasionally find more affordable options among the neighborhood’s pre-war walkups. But the quality of life here is certainly worth the price. Spend a little time in Tribeca, and you’ll understand why it’s one of NYC’s most desirable neighborhoods.

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