11 Hancock Place (Eleven Hancock)

Twelve stories, roughly 130,000 square feet gross, with commercial space on the lower levels and residences beginning on the third floor. The unit mix runs studios through four-bedrooms across 71 residences, and roughly half carry private outdoor space — terraces, balconies, or cabanas, each recorded as a limited common element appurtenant to the residence. Interiors are by Lemay + Escobar.

The outdoor space deserves attention on both sides of the ledger. It is the building's most durable value item and the most common source of water infiltration in new construction of this vintage. Under the by-laws, ordinary maintenance of a terrace, cabana or balcony falls to the residence owner; structural and extraordinary repairs, including leaks not caused by owner negligence, fall to the board as a common expense. Read the board minutes for that history before you buy an outdoor-space line.

The cantilever and the banded metal elevation mean the building has more exposed envelope and more detailed flashing conditions than a conventional masonry box. That is a maintenance question, not a defect, and it is worth asking the managing agent what the facade inspection cycle has produced.

Full-time door staff, an attended lobby, and a third-floor amenity level with a resident lounge, media room, fitness center, children's playroom and pet spa, opening onto two landscaped outdoor terraces with cooking and lounge areas and private cabanas. Storage rooms sit on the sixth floor. Roughly 6,000 square feet of indoor and outdoor amenity space serves 71 residences, which is a favorable ratio to use and a demanding one to fund — in a building of this size, amenity operating cost and any capital event divide across a small number of common interests.

The commercial unit carries its own share of common charges and its own board seat. Ask for the current allocation of common interest between the residential and commercial sections, and read how shared building systems and their costs are apportioned between them. In mixed-use condominiums this is where the real economics live.

Ownership form: Condominium. Resales clear through a right of first refusal — the board has thirty days to elect, after which the seller has sixty days to sign a contract — rather than a cooperative-style approval. The offering plan states expressly that the board has no right to approve or disapprove a purchaser.

Investor ownership: Uncapped. The plan warns that there may always be a substantial percentage of non-resident owners. Confirm the current owner-occupancy percentage with the managing agent — it matters to some lenders.

Leasing: Permitted, with a thirty-day minimum lease term and the board's right of first refusal applying to leases as well as sales. Short-term rental is prohibited.

Pets: Permitted without board consent, subject to the board's right to require removal of a nuisance animal.

Smoking: Prohibited inside the residences, on all terraces, cabanas and balconies, throughout the common elements, and within twenty-five feet of the residential entrance. This is stricter than most and worth knowing before you buy.

Family and entity transfers: Transfers to a spouse, adult child or grandchild, parent, grandparent or adult sibling, and to a related or controlled entity, are exempt from the right of first refusal.

Alterations: Structural work requires prior written board approval; no roof, terrace, cabana or balcony construction without approved plans, a DOB permit, and board consent.

Real estate taxes: The roll shows no exemption. Check the specific unit's tax bill for any abatement and underwrite against it.

Recent sales

Recent closings at this building, from The Roebling Research Library. Prices are the transfer amounts recorded with the NYC Department of Finance; apartment-level detail is checked against the building’s own file in The Roebling Research Library before publishing.

Market read. Most recent trades (2026 to date) cleared a median $1,169/sf (recorded) across 3 sales. Median listing discount 1.0% from the last ask — a recurring negotiation gap worth pricing into any offer or listing strategy.

Sales sourced from NYC Department of Finance recorded transfers (BBL 1-01951-7501; each condominium apartment is its own tax lot). Apartment-level facts (line, condition, asking-price context) curated and cross-verified in The Roebling Research Library. Not all transactions cross-verify with ACRIS records — sponsor and LLC purchases sometimes record at stipulated values rather than market price; square footage from recorded condo declarations and offering plans.

Underwrite full taxes from day one. There is no 421-a, no 485-x, and no J-51. The tax line on this building is not going to step up on a schedule, because there is no schedule — it is already at full assessment. Run the True Monthly Carrying Cost Calculator against the current bill for the actual unit, not against a projection.

Do not assume the neighboring building's abatement applies here. Nearby developments in Harlem carry live 421-a benefits running into the 2030s. This lot does not, and the difference in monthly carry between an abated unit and an unabated one of the same size is substantial. Confirm the tax position lot by lot.

Read the mixed-use structure carefully. A commercial unit occupying roughly 30,000 square feet appoints one of three Condominium Board seats, and the residential section falls below the 85 percent threshold that would let the condominium be taxed as a homeowners association. Have your attorney read the by-laws on cost allocation between the sections.

Ask about the sponsor's remaining position. Sponsor closings ran for several years. Where a sponsor still holds units, its consent rights over board action — on reserves, staffing, service contracts and borrowing — persist until its common interest falls below the threshold set in the plan or the control period expires.

Test the outdoor space and the envelope. Roughly half the residences have terraces or balconies. Ask for the leak history, the facade inspection record, and the reserve position before you pay a premium for the outdoor line.

Walk the block at different hours. Hancock Place is quiet; the corridor a block north is not. Both are part of the address, and the express train that makes the commute short is the reason the corridor is busy.

Be direct about the tax posture. Sophisticated buyers and their attorneys will find it in diligence. Presenting the full unabated number up front, paired with the carrying-cost analysis, produces better outcomes than letting it surface at contract.

Sell the policy stack. No board approval beyond a right of first refusal, pets permitted without consent, pied-à-terre and entity ownership permitted, thirty-day minimum leases. Against the Harlem cooperative stock, that is a genuinely different product and a materially faster closing.

Lead with outdoor space where you have it. Roughly half the residences carry a private terrace, balcony or cabana as a limited common element, so confirm which lines do and show the apartment's own outdoor area, its dimensions and its exposure.

Expect a thin same-building comparable record. With few true resales, one print sets the reference for the next year. Price against current new-construction inventory in the corridor, and be prepared to defend the number with line-level analysis.

If you're considering 11 Hancock Place, also evaluate:

• 371 West 123rd Street — the closest new-construction condominium comparable, one block west; check its abatement position against this one, because they differ
• 88 Morningside Avenue — the Morningside Avenue frontage alternative
• 117 West 123rd Street — nearby ownership housing at smaller scale
• 301 West 118th Street and 309 West 118th Street — the South Harlem condominium set
• 285 West 110th Street (Circa Central Park) — the park-front new-development benchmark for the corridor
• 111 Central Park North and 145 Central Park North — park-facing condominiums at the northern edge of Central Park
• 545 West 110th Street and 610 West 110th Street — the Morningside Heights alternatives: both are condominiums, 545 a 2005–06 new-construction building and 610 a prewar (1922) building
• 2101 Eighth Avenue — new-construction condominium on the Frederick Douglass corridor