Five months ago, the cool kids showed up in the quiet corner of Chinatown near the river and renamed it "Chumbo." Well, that hasn't stuck, as this full-floor loft in the theoretical heart of Chumbo, 48 Canal Street, is being marketed under a different neighborhood moniker: LoLo. For the uninitiated, according to the brokerbabble, that's supposed to mean the "Lower Lower East Side." Given the quality of the space, a two-bedroom loft on the third floor of an elevator building with exposed wooden ceilings and an updated kitchen, no broker finagling should've been necessary. Still, luring people—people willing to pay $6,800 per month on a two bedroom anyway—down to any section of Canal Street is a challenge.
· 48 Canal Street 3FL [Elliman via Streeteasy]