Construction Begins on 11 Hancock; 12-Story Condo to Rise on Theater Site | CityRealty

Construction Begins on 11 Hancock; 12-Story Condo to Rise on Theater Site

Construction Begins on 11 Hancock; 12-Story Condo to Rise on Theater Site

By Michelle Mazzarella | From Future New York Monday, May 7, 2018

11 Hancock Place via CityRealty

11 Hancock Place via CityRealty

The site of 362 West 125th Street provides an interesting microcosm of the history of Harlem: It got its start as a live theater at the turn of the twentieth century, only to transition to a cinema and then to a church. In its most recent chapter, developer Chaim Nortman bought the site for $28.5 million in 2016. Shortly after, he demolished the four-story building and announced grand plans for a 12-story residential building to rise in its place. Construction is in progress.

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Construction photo via Ondel Hylton

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11 Hancock Place

11 Hancock Place Harlem

In addition to the nearly 75,100 square feet of buildable space that came with the site, Mr. Nortman bought 27,500 square feet of air rights from a neighboring building. Renderings by Issac | Stern show a blocky building with private terraces on select units, large windows everywhere, and a large cantilever over the neighboring building. There will be two stories of retail along with cellar space, then 70 apartments on top. Plans filed with the city indicate that amenities in this elevator building will include basement storage and bike room, a third-floor playroom and lounge with terrace, and roof terrace.

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An offering plan filed with the attorney general did not include prices, but CityRealty data shows that Harlem’s median condo price is $1.9 million. The new building’s location may drive prices up: The 125th Street subway stop is on the corner. Area attractions including Morningside Park, the Apollo Theater, and 125th Street shopping and dining are a short walk away.

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Rendering via Issac | Stern

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Google Earth aerial showing location of 11 Hancock Place (CityRealty)

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Content Specialist Michelle Mazzarella Michelle is a contributing writer and editor for real estate news in New York City

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