3 Hanover Square (Cotton Exchange Building)
3 Hanover Square, New York, NY 10004
Financial District
BBL 1000280001 · BIN 1000831
- Year built
- 1922
- Type
- Cooperative
- Units
- 205
- Floors
- 22
- Financing
- Up to 80% financeable (20% minimum down).
- Subletting
- Permitted with Board approval.
- Managing agent
- Akam Associates, Inc.
Compiled by The Roebling Research Desk from the building’s offering plan, amendments, and related building documents (primary source dated 2026). Board policies can change by amendment — confirm at the offer stage.
Every recorded sale at this building, 2003–2026
Price-per-square-foot over time, the line- and floor-premium curves, and every recorded sale.
- Median $/sf
- $894
- Listing discount
- 2.6%
- Recorded sales
- 264
- On record
- 2003–2026
3 Hanover Square (Cotton Exchange Building) is the original New York Cotton Exchange building — Donn Barber's 1922-23 commission converted in 1985 to one of the earliest FiDi residential cooperatives.
Its New York Cotton Exchange institutional provenance ties the address directly to early-20th-century Wall Street commodities-trading history, and that history was built by hand of note: the Donn Barber architectural pedigree runs to a broader portfolio of substantial early-20th-century commercial commissions. When the 1985 cooperative conversion arrived, it counted among the earliest residential conversions anywhere in the Financial District.
Local Law 97
- 2024–2029 annual penalty
- $0 (under cap)
- 2030–2034 annual penalty
- $128,717/yr
- Per unit / month range
- $0 – $53
Facade safety — Local Law 11
The latest available filing classified the facade as SWARMP — Safe With A Repair and Maintenance Program: the engineer identified conditions requiring monitoring or repair before the next inspection cycle. The scope, timeline, and how the building funds the work are building-specific — we review the filings and board materials for you.
QEWI = Qualified Exterior Wall Inspector — the licensed engineer the city requires to sign the report (the independent expert, not the managing agent). Source: NYC DOB facade filings (FISP) · The Roebling Research Library.
See the full facade history →Management & transfer contacts
- Flip tax
- 3% of sale price
- Sublet policy
- Allowed; max 2 years; must be shareholder 3 years, written board consent required
- Pied-à-terre
- Pied-a-terres welcome (no investors)
- Notable fees
- Sublease fee 20% (yr1)/25% (yr2) of monthly maintenance; NYS stamp tax $0.05/share; max financing 80%
Recent sales
Recent transfers at this building, curated by The Roebling Team research desk. Apartment-level facts are independently verified before publishing; sale prices reflect the recorded transfer amount at the NYC Department of Finance.
| Date | Unit | Apartment | Price | PPSF | vs. Ask |
|---|---|---|---|---|---|
| Jun 10, 2026 | 8A | 1 BA | $390,000 | +0.0% | |
| Mar 9, 2026 | 11C | 2 BR · 2 BA · 1,330 sf | $1,175,000 | $883/sf | -5.6% |
| Jan 15, 2026 | 9G | 1 BA · 650 sf | $565,000 | $869/sf | -8.9% |
| Dec 4, 2025 | 13F | 2 BR · 2 BA · 1,400 sf | $1,390,000 | $993/sf | -4.1% |
| Oct 28, 2025 | 10H | 1 BA | $399,000 | +0.0% | |
| Oct 21, 2025 | 21C | 1 BR · 1 BA | $715,000 | -5.8% | |
| Sep 17, 2025 | 13E | 1 BA | $550,000 | -9.8% | |
| Aug 21, 2025 | 4E | 1 BR · 1 BA | $620,000 | -4.6% |
Market read. Most recent trades (2026) cleared a median $894/sf across 2 sales. Median listing discount 2.6% from the last ask — a recurring negotiation gap worth pricing into any offer or listing strategy.
The retrade record
Lines that have traded more than once in the public record — the building’s appreciation arc, apartment by apartment.
Full closing history with price-per-square-foot over time, the complete retrade record, and every line that has traded.
Sales sourced from NYC Department of Finance recorded transfers (BBL 1-00028-0001) and verified listing data. Apartment-level facts (line, condition, asking-price context) curated and cross-verified by The Roebling Team research desk. Not all transactions cross-verify with ACRIS records — sponsor and LLC purchases sometimes record at stipulated values rather than market price; square footage on co-ops is not officially recorded, figures shown are approximate.
What to know if you’re buying
The 1922-23 New York Cotton Exchange institutional provenance is real architectural-history context.
The Donn Barber architectural pedigree is real institutional context.
The 1985 cooperative conversion is among the earliest residential conversions in FiDi.
The 205-unit operational scale supports comprehensive amenity infrastructure.
Roebling cross-references the offering plan through the Roebling Research Library during diligence.
Comparable buildings
- Liberty Tower (55 Liberty) — Cobb 1909 / 1979-80 conversion; nearby FiDi cooperative landmark peer
- 1 Wall Street Court (Cocoa Exchange) — Clinton & Russell 1904 / 2006 conversion; nearby FiDi landmark peer
- Cipriani Club Residences (55 Wall) — McKim Mead & White 1907-10; nearby Wall Street landmark peer
- 25 Broad Street (The Broad Exchange) — Clinton & Russell 1902 / 2019 conversion; nearby Broad Street landmark peer
- 1 Wall Street — Walker / Macklowe 2023; nearby FiDi trophy peer
Sources: The Roebling Research Library (offering plans, house rules, financial statements, board minutes, internal transaction records); NYC Department of Finance recorded transfers; publicly recorded NYC building data.
The neighborhood
For the full corridor — architecture, schools, transit, and pricing across Financial District — read The Roebling Team Guide to Financial District.
The full playbook — what goes in the package, how boards read your financials, the interview, and the timeline — plus sample cover, reference, and personal letters you can adapt.
Considering a move at Cotton Exchange Building?
Request a private building brief with the relevant comparable sales, current and off-market availability, and an apartment-specific view of value.
Own an apartment here? See what it would sell for.
A Private Pricing Opinion — what your apartment at Cotton Exchange Building would likely sell for today, what it costs to sell, and what you’d walk away with — reviewed personally against condition, exposures, renovation quality, and the competition actually on the market.