3 Hanover Square

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3 Hanover Square, New York City, NY


3 Hanover Square
3HanoverSquare-NYC-Exterior.jpg

3 Hanover Square in the heart of the Financial District
Building Information
Management Company Rose Associates
Number of Units 204
Number of Floors 23
Year Built 1926
Construction Method Concrete
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3 Hanover Square, New York City, NY
Distance to Public Transit Less than one block
Region New York City
Municipality New York City
Zoning C5-5
Title of Land Condominium


Contents

Background

3 Hanover Square was the first office building in the Financial District, referred to as FiDi, to convert to residential apartments. Many others soon followed due to its success. It was originally constructed to house the administrative offices of the New York Cotton Exchange officially located at 1 Hanover Square.

Historically, people were drawn to FiDi as it was a central financial hub for currencies and commodities. With the advent of 3 Hanover Square and its conversion to residential use, a new renaissance began, transforming this neighborhood from an office centric area of the 1980s to the thriving and desirable residential neighborhood of today.

Location

3 Hanover Square is centrally located in the Financial District, or FiDi, of Downtown Manhattan. It faces Hanover Square, a small but manicured plaza that contains the Queen Elizabeth II September 11 Garden, which commemorates the loss of 67 British subjects during the collapse of the World Trade Towers.

Restaurants and bars are everywhere. At least four eating places are within 3 Hanover Square itself, with walk score estimating their distance at 0 feet.[1] Literally dozens of fine eating establishments are within 500 feet of 3 Hanover Square. At Leonidas, you will find there a complete selection of Belgian Pralines Chocolates, Truffles, Orange Peel and Marzipan as well as Leonidas delicious Paté de Fruits and Chocolate Bars.[2] Crepes, beans, pizzas, and sushi, whatever your tastes are, can be found nearby.

The renovated high rise is just two blocks from Wall Street, arguably, the most influential financial center in the world. Millennium High School is two blocks away. With the introduction of more and more residential structures being added to FiDi, more schools also appear nearby, including a number of preschools.

Parks to walk to include Battery Park, Liberty Plaza, Bowling Green, and many more, all within a half mile.

Construction

3 Hanover Square was an challenging building to convert to residences. No other conversions had been done in the FiDi area and converting a former office administration building to residences was a fairly new endeavor. Ceiling heights varied on most floors from 10 feet to 17 feet in height, which the designer used to create over 70 floor plans. The upper floors where the penthouses were created utilized the varying heights to create loft areas and other multilevel apartments, some three levels.

The white limestone facade was preserved and is one of the striking features of the building as viewed from the outside. Faux pillars on the top three levels indicate where the cotton trading room used to be. The double fenestration imparts a regal symmetry to the overall appearance. The floor under the top three levels that feature the pillars, has small Juliet style balconies, not large enough to stand on, but as a decorative adjunct.

Layout and Features

3 Hanover Square was one of the original conversion projects in the Financial District. The building saw numerous tenants and purposes before the conversion took place in 1985. As such, the floor plans are all distinctive and unique.

Ceiling heights vary from about 10'6" to 17 feet in some of the penthouses. A few apartments have had drop ceilings installed offering a height of about 9 feet, but hiding the open beam structure of some suites at closer to 12'6".

There is a 24 hour doorman and the concierge desk is available to residents.[3]

Floor Plans

3 Hanover Square offers 70 floor plans. Here are some interesting variations:

Amenities

  • As you would come to expect in a New York luxury condominium, 3 Hanover Square has a concierge and a doorman.
  • The superintendent is a full time resident.
  • Laundry rooms are available to residents on every third floor.
  • Exciting neighborhood teeming with restaurants and other amenities of the Financial District
  • A landscaped garden is at the foot of the building.

Bylaws

3 Hanover Square Bylaws
Rentals Yes
Pets Yes
Age No



  • Pied-à-terre and rentals are welcome, however, the Cooperative Board restricts investors.
  • One account also describes the building as 'extremely pet friendly', however, renters are not allowed pets and sign a rider to that effect.

Sustainability

  • 3 Hanover Square was constructed prior to our modern awareness of sustainability, the conversion to condominiums usually incorporates some form of environmental consciousness.
  • New energy efficient appliances.
  • Windows have been replaced to offer greater insulation efficiency.
  • Modern construction techniques applied during conversion activities ensure the proper disposal of construction waste in an orderly and sustainable manner.

Trivia

The Stone Street Historic District includes Pearl, South William, and Stone streets, Hanover Square, Coenties Alley, and Mill Lane. Within these streets are about 15 low-scale buildings dating back to the late 1830s. It is a rare cluster of buildings to be said, considering they survived the great fire of the Financial District of 1835.

These old structures are complemented by several picturesque early twentieth-century buildings designed by prominent architects. The low-scaled buildings form an enclave distinct from the surrounding twentieth-century skyscrapers of the Financial District. This area of narrow winding streets whose patterns were first formed by the Dutch settlers as far back as the 1640s.

Stone Street itself was first known as Hoogh Street and became the first paved street in Nieuw Amsterdam (1658). When the British took over, they translated the name to High Street, and then it became Duke Street after the Duke of York. Ultimately, it was renamed Stone Street in 1794 as New Yorkers abandoned reminders of British rule.[4]

References

  1. Walk Score - Restaurants
  2. Leonidas
  3. 3 Hanover Square Virtual Tours
  4. Stone Street Historic District,

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