Tribeca stands for Triangle Below Canal Street. It is bound by Canal Street, West Street, Broadway, and Chambers Street. In the 19th century, Tribeca was mainly a center for textiles and cotton trade. Since the 1970s, many of the warehouses have been converted into residential lofts. This area is home to the world-famous Tribeca Film Festival, a beautiful waterfront, and many high-profile New Yorkers and celebrities.