Tribeca Property

 Manhattan has been quite resilient when it comes to the residential housing market, so to keep things interesting, I decided to take the south Florida foreclosure heat map and place alongside the downtown Manhattan foreclosure heat map.  As you may have guessed, red is not the color you want to see!  Tribeca (and most of downtown Manhattan) has been so far virtually immune from foreclosures.

 The low level of foreclosures in the Tribeca and downtown market has much to do with the low levels of speculation that went on in the real estate market here, as opposed to places like south Florida.  In addition, most developers prevented purchasers from reselling their units prior to closing.  This was not true in the earlier days of the south Florida market, causing hugh run ups in prices.

Foreclosures Shown On Scary, Encroaching Heat Maps
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