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).
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