Updated 8 years ago
Off Market
4-6 Hancock Place
Harlem, Manhattan | Manhattan Ave & West 124th Street
60,000 Square FeetDevelopment Site
$15,000,000
floors4
Lot Size67'x177'6"
Building TypeLow-Rise
Price Per SF
$250
Property Description for 4-6 Hancock Place
NEW TO MARKET- 4 HANCOCK PLACE AND 6 HANCOCK PLACE - READY TO BE COMBINED!
UNIQUE MIXED- USE DEVELOPMENT OPPORTUNITY IN A PRIME WEST HARLEM LOCATION!
This is a tremendous chance for investors to develop a prime condominium, hotel, private townhouse or a rental building in a booming West Harlem neighborhood!
Take advantage of the potential ADDITIONAL BUILDABLE FAR, just like the investors behind the redevelopment of the 100 years old Victoria Theater, which will be incorporated into the new Marriott hotel- residential hybrid (https://ny.curbed.com/2017/4/20/15376412/harlem-victoria-theater-redevelopment). Be a part of the exciting revitalization of Harlem - from Columbia University on the west, to the FDR Drive on the east, Harlem's 125th Street and surrender streets are once again being targeted for major redevelopment!
Located just southwest of the 125th Street & Saint Nicholas Avenue intersection, the site is readily accessible by the express subway and lies at the main retail corridor. The project gives developers a tremendous opportunity to build in a neighborhood with high density that is undergoing significant cultural & economic growth.
Thanks to the NYC Economic Development Corporation (NYCEDC) and strong community- based efforts, West Harlem neighborhood has its own revitalization Master Plan in place since 2002. This plan has helped to transform 125th Street into a world-class entertainment, cultural and business district. The planning process involved a variety of stakeholders, whose main aim was to enhance the neighborhood's character, fulfill the community's vision for the area and create a strategy for economic development of West Harlem and Manhattanville. Approved in 2008 by the City Council, a balanced zoning framework played a vital role in the revitalization process. Such framework continues to create incentives for mixed- use developments, preserves the character and scale, and further supports the neighborhood's role as premiere arts, culture and entertainment and regional business district.
Since then, West Harlem has been enhanced with various projects such as the aforementioned redevelopment of the Victoria Theater or the Uptown House - an equivalent of the Meatpacking District's SoHo house, which will occupy 80,000 square feet in the Malthouse between Amsterdam Avenue and West 126th Street (https://therealdeal.com/2014/10/20/boutique-hotel-coming-to-harlem-in-2016/). Last but not least, West Harlem community has been dubbed as a top neighborhood to watch in 2018 by StreetEasy.
The properties for sale are 4 Hancock Place (Block: 01950 Lot: 0055) and 6 Hancock Place (Block 1950, Lot 0056) - the related zoning information to be reviewed with the buyer's attorney.
As it stands, 4 Hancock Place is a vacant lot. Currently, 6 Hancock Place is a theatre, featuring live local productions. The dimensions of 4 Hancock Place are 39.44 feet x 83.66. Lot Area 3,193.8 sq. ft. and the dimensions of 6 Hancock Place are 28.17 x 93.94. Lot Area 2183 sq. ft. (to be verified).
UNIQUE MIXED- USE DEVELOPMENT OPPORTUNITY IN A PRIME WEST HARLEM LOCATION!
This is a tremendous chance for investors to develop a prime condominium, hotel, private townhouse or a rental building in a booming West Harlem neighborhood!
Take advantage of the potential ADDITIONAL BUILDABLE FAR, just like the investors behind the redevelopment of the 100 years old Victoria Theater, which will be incorporated into the new Marriott hotel- residential hybrid (https://ny.curbed.com/2017/4/20/15376412/harlem-victoria-theater-redevelopment). Be a part of the exciting revitalization of Harlem - from Columbia University on the west, to the FDR Drive on the east, Harlem's 125th Street and surrender streets are once again being targeted for major redevelopment!
Located just southwest of the 125th Street & Saint Nicholas Avenue intersection, the site is readily accessible by the express subway and lies at the main retail corridor. The project gives developers a tremendous opportunity to build in a neighborhood with high density that is undergoing significant cultural & economic growth.
Thanks to the NYC Economic Development Corporation (NYCEDC) and strong community- based efforts, West Harlem neighborhood has its own revitalization Master Plan in place since 2002. This plan has helped to transform 125th Street into a world-class entertainment, cultural and business district. The planning process involved a variety of stakeholders, whose main aim was to enhance the neighborhood's character, fulfill the community's vision for the area and create a strategy for economic development of West Harlem and Manhattanville. Approved in 2008 by the City Council, a balanced zoning framework played a vital role in the revitalization process. Such framework continues to create incentives for mixed- use developments, preserves the character and scale, and further supports the neighborhood's role as premiere arts, culture and entertainment and regional business district.
Since then, West Harlem has been enhanced with various projects such as the aforementioned redevelopment of the Victoria Theater or the Uptown House - an equivalent of the Meatpacking District's SoHo house, which will occupy 80,000 square feet in the Malthouse between Amsterdam Avenue and West 126th Street (https://therealdeal.com/2014/10/20/boutique-hotel-coming-to-harlem-in-2016/). Last but not least, West Harlem community has been dubbed as a top neighborhood to watch in 2018 by StreetEasy.
The properties for sale are 4 Hancock Place (Block: 01950 Lot: 0055) and 6 Hancock Place (Block 1950, Lot 0056) - the related zoning information to be reviewed with the buyer's attorney.
As it stands, 4 Hancock Place is a vacant lot. Currently, 6 Hancock Place is a theatre, featuring live local productions. The dimensions of 4 Hancock Place are 39.44 feet x 83.66. Lot Area 3,193.8 sq. ft. and the dimensions of 6 Hancock Place are 28.17 x 93.94. Lot Area 2183 sq. ft. (to be verified).
Building Details for 4-6 Hancock Place
OwnershipDevelopment Site
Building TypeLow-Rise
AgePre-War
AccessWalk-up
Year Built1900
Floors4
Transit and Citi Bike
Subway
125 St
0.1 miles
116 St
0.35 miles
125 St
0.45 miles
125 St
0.47 miles
Citi Bike
St Nicholas Ave & Manhattan Ave
0.05 miles
Morningside Ave & W 123 St
0.07 miles
Harlem | Manhattan
Quick Profile
The neighborhood called West Harlem by the locals is known as Manhattanville to neighborhood newcomers. The area is culturally diverse and might be considered a microcosm of the city as a whole.
Columbia University has recently expanded into the area, which is attracting student residents from all over the world. Together with students from the City College of New York and young professionals fleeing higher prices in other neighborhoods, this influx of younger residents has brought with it more restaurants and bars on W 125th Street to serve this clientele. There are also new ventures, like a rock-climbing gym, to cater to the interests of these students and young professionals. At the same time, there are many small, family-owned shops and restaurants that have been anchors of the neighborhood for multiple generations.
The area has been through a housing upgrade, as older properties have been renovated and abandoned properties have been razed to make room for new development. There are still reasonably priced apartments available. Young professionals are finding that there is a certain cachet to living in West Harlem. It provides a convenient commute to the city and all of its amenities, while providing a sense of escape at the end of a long work day.
While rentals are popular with the student population, the young professionals are delighted to find pre-war brownstones, pre-war co-ops (including some income-capped HDFCs for lower- and middle-income buyers), and post-war condos that they can afford, although prices are rising. Some new low-rise developments, sporting virtual doormen and desired amenities, are cropping up.
All information furnished regarding property for sale, rental or financing is from sources deemed reliable, but no warranty or representation is made as to the accuracy thereof and same is submitted subject to errors, omissions, change of price, rental or other conditions, prior sale, lease or financing or withdrawal without notice. All dimensions are approximate. For exact dimensions, you must hire your own architect or engineer.
OLR ID: 73005TH
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