Named for the triangle of city below Canal Street, TriBeCa has become one of the wealthiest areas of New York, due in large part to an influx of young, artistic trendsetters and upper-middle-class settlers. Before expansion and development, TriBeCa was home to light manufacturing and textile production, which explains the architecture. Like SoHo, the neighborhood is dominated by cast-iron loft buildings that have been renovated into rambling condominiums and apartments. In the late '90s, the area led Manhattan's living costs, and residents paid upwards of $1 million for warehouse-to-condo conversions. High-price, high-profile eateries such as Chanterelle, Montrachet, and the TriBeCa Grill are plentiful, and celebrities are common fixtures.