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View Full Version : 10 Hanover Sq - Downtown - Rental


outlier
September 9th, 2005, 01:22 AM
Just saw the question somewhere on this forum about what 10 Hanover looked like inside and thought I'd offer my $0.02 (from the perspective of someone from Out West who got back from NYC tonight after signing lease docs at 10 Hanover this morning).

The gym is done and has been in full operation since before the building started getting converted over to residential. The gym still technically belongs to Goldman Sachs or is leased to them or something. Residents have free access to the gym, but no one's sure exactly what's going on with it in the future. It's still going to exist and there's something about Goldman vacating it, but what happens to it beyond that is apparently up in the air still. The lobby and lounge are supposed to be done in mid-October, not sure about the roof-top terrace. The mail room and laundry room are not yet in operation (but the building is paying for residents' laundry pick-ups to make up for the lack of the laundry room). Oh, also, for the time being, they're paying for all utilities since they apparently haven't gotten the sub-meters installed for everyone's electrical.

As of today, they don't have anything available until November (I was planning on moving out October 8, but I can't get in to the apartment until November 2, so, you know).

The apartments themselves -- again, I don't really understand what it is that New Yorkers want from their apartments, but there seems to be some value attached to older spaces -- are very nice, though a little smaller than some others I looked at (99 John, frex). The one I signed up for is an alcove studio that is "540 s.f." (although it would be considered something like 425 s.f. anywhere in the western US -- still not sure how they're figuring out square footage in NYC -- one 1BR I saw in Jersey City was "930 s.f.", but was at least a third smaller than the 810 s.f. 2BR condo I used to have in SoCal). Counter tops are all granite, appliances are all stainless steel, IIRC the floors are all oak strip hardwood. Good closet space, I guess (all the female leasing agents in every building I saw talked about nothing other than closet space). Ceilings are only 9' high, so not really the place for your loft bed. The units that I saw didn't look like they were getting much light -- they faced one of those narrow streets (Pearl? Stone?). Supposedly there are units in there with views of the river, but it's hard to see how that would be possible.

Outside, it looks like an office building. And not a particularly interesting one at that. Lobby is still under construction a little bit, but looks like it's being done up right (high-end finishes). They're building (another) pedestrian park somewhere on an adjoining street and there are already a few nice little bench-fountain situations in the vicinity. It's two blocks to the East River, about 5 minutes walk to the N/R/W and the 4/5/6 and a little closer to the 1/2/3.

My alcove studio is going to be $2,280/month, but they're offering a $1,000 move-in bonus (cash back at some point) and are paying broker fees. I think the alcove studios started at $2,250 and the most expensive one I saw was $2,350. They have two or three units/floor of regular studios that I think started around $2,000. The 1BRs started at $2,650 or thereabouts. From what I could tell, they are building a *lot* of alcoves (several different models, most of which looked nearly identical).

Being a westerner who was never planning on moving to NYC, I liked the building and the units because they were new and because the high-end finishes are the same as what I have in my (likewise new) house out here (of course, my mortgage on this 2,900 (real) s.f. house is HALF what rent is going to be on the "540 s.f." apartment, but I guess we're all familiar with NYC housing prices). The neighborhood seems clean, there are a couple of "grocery stores" in the vicinity (although the better one is up on John Street 5 or 6 blocks away), and I like the fact that if I tell my friends out in California that I live near Wall Street, they can think they understand something about where I live. Seemed to be a lot of reasonably priced restaurants in the area, which is great by my standards. I'm not a bar or nightlife person, so I didn't check that out much. And I guess it's a good thing to be near the South Street Seaport.

Anything else?

o

Khurram
September 9th, 2005, 02:50 AM
Awesome post!!
I actually started the other thread about 10 Hanover but got no replies from anyone, this pretty much takes care of all my questions though thanks a lot!

A couple things...
is the alcove studio you have a studio with a home office? on their website I haven't seen any floorplans for alcove studios, only regular studios, and then studios with home offices (which is what I want to rent), so I was wondering if they are calling their studios with home offices alcove studios?
However on the floorplans they seem to be quite large, at least measurement wise, maybe they just dont have floorplans up for those yet?

If you could go to website and let me knwo which floorplan you have, or if it's listed there or not I would appreciate it...

Also when you say they will have nothing available till november is that only speaking of the alcove studios or the entire building? Cuz I was told otherwise, just wanted to double check on that.

Other than that, seems like the building is represented pretty accurately on the webiste according to what you saw....free utilites for a while sounds good:) , i really hope they get the laundry operational soon, but as long as they are paying for it i suppose it doesnt' matter really...

I"m also planning on getting a place there, i'm moving to nyc next friday....i really hope I can get a place in that building by oct 1st cuz I have no where to stay for so lnog if november is the only availablitlies:(

Khurram
September 9th, 2005, 05:03 AM
by the way I was told the building offers directv,

it's one of the reasons i'm moving to this building, gotta be able to watch nfl sunday ticket:)

do you know any details about that?

outlier
September 9th, 2005, 11:18 AM
Yeah, it's the "studio with a home office". My floorplan is V (9th floor). You'll see that there's very little difference between V and S and T and there were a couple others that looked and felt identical to me (I think closet space was the biggest difference -- it was the only thing the leasing agent pointed out -- although some of the units also give you an extra 6-12" in living room length). "Alcove Studio" was my term, not theirs -- it's all semantics, though, since either way it's where you're gonna put the bed. The alcove/home office areas are pretty large -- bigger than other alcoves I looked at and easily big enough for a queen- or king-size bed, although I think the measurement they're listing is including the "hallway" in the length of the room, so it's not all usable space listed in the dimensions.

It seemed like there might have been a home office studio floorplan available (as of three days ago) in Mid-October, but it was much more expensive than the others for some reason (must have had the extra 12 inches in the living room) -- $2,450 or something? Don't remember which floorplan that was, but with the amount of apartment-hunting traffic running through that place, I'm guessing it'll be gone very soon if it's not already. It sounded like the 1BRs were also unavailable until November. Not sure on the pure studios or larger units. Also, even with the November 2 move-in, there were limited availabilities (and since the building's only been renting for a month, there aren't any move outs to create any immediate availabilities). IIRC, there were only three of the home office studios available on that date, after which there were more coming up on 11/17.

OTOH, talking to my broker, it sounded like you could sometimes get the leasing agents to bend rules and open stuff up that they weren't intending to rent, stuff like that, so maybe just find a good broker! (LMK if you want a phone number -- I was surprised by how helpful my particular broker was, especially given the mostly negative broker reviews I'd heard from other recent NYC relocators.)

Not sure about the DirecTV. The leasing agent said "I think we have it -- there's a satellite dish on the roof for *some* reason". That wasn't a major concern for me, though (it was my broker who brought up the question).

Good luck with the big move!

o

Khurram
September 10th, 2005, 03:04 AM
On the website where they have the measurments listed for the living rooms

does soemthing like 12"8x 16"8 include the kithcen area's space as well?
or is the kitchen area seperate?

Also are the bathrooms the same as they are represented on the website?

Thanks
Khurram

outlier
September 10th, 2005, 08:55 PM
Pretty sure the living room measurement is for the living room only (the living rooms seemed small, but not *that* small). The bathrooms shown on the online floorplans are the same as what's getting built. Both the bathrooms and kitchens were very nice (the cupboards with the frosted glass looked great), although water pressure only seemed average.

o

vc10
October 7th, 2005, 08:56 AM
Saw 10 Hanover last weekend---the two bedroom (there's one per floor).

The two bedroom model is very nicely presented, but when you get down to it, it's tiny.

BrooklynRider
October 7th, 2005, 11:07 AM
...The one I signed up for is an alcove studio that is "540 s.f." (although it would be considered something like 425 s.f. anywhere in the western US -- still not sure how they're figuring out square footage in NYC...

Actually, Real Estate brokers outright lie about square footage. Anything you get from a real Estate broker will have a disclaimer on the bottom stating that they can't be held responsible for anything they tell you or don't tell you. The better "errors and omissions" statements will direct you to hire an architect or engineer to review the dimensions and claims made by the broker and / or offering plan.

lofter1
October 7th, 2005, 11:24 AM
Related, but somewhat off topic:

A friend from out of town (first time NYC lease) recently signed a lease for a "3 bedroom" apartment (lease clearly labels the apartment "3 bedrooms"). Turns out that one "bedroom" has no windows or ventilation, which under NYC code deems it NOT allowable for a bedroom. Which legally would diminish the number of occupants in the apartment.

Is this fraud? Or is this just Standard Operating Procedure in NYC residential real estate?