TriBeCa, among other trendy neighborhoods, was known as "SoPo" - South of Power - in the days following the destruction.
As a result, many individuals seeking to buy or rent in the exclusive area have chosen look elsewhere.
The question currently being asked:
Is the hurricane stigma a short term phenomenon?
"It wouldn’t be the first time that the area had faced adversity, of course. Lower Manhattan recovered strongly after the attacks of Sept. 11, 2001, as the city gave developers incentives to create new residential housing. And home prices downtown have recovered more quickly since the Lehman Brothers collapse than prices in the rest of the city. Average sale prices in Battery Park City and the financial district have risen by 11.7 percent, compared with 0.7 percent for Manhattan as a whole, according to Miller Samuel, a real estate appraisal company who spoke with The New York Times.
One report claims that it could be upwards of 18 months before all residents of lower Manhattan can return to their housing.
