# 7 Hanover Square, Manhattan

Condominium · built 1983 · Block 30, Lot 7501.

On Umarelli: https://umarelli.org/nyc/1000307501/7-hanover-square

More construction in Financial District: https://umarelli.org/nyc/manhattan/financial-district.md

## Building permits

- No Work, filed Aug 21, 2026, described as “Alger's Anniversary - September 2, 2026 - 5:30PM - 11:59PM - 85 Guests”
- Alteration, filed Jul 14, 2026, estimated cost $81K, described as “Propose to perform plumbing and sprinkler work. No change in use, egress or occupancy.”
- Alteration, filed Jul 10, 2026, estimated cost $220K, described as “Propose to perform mechanical work. No change in use, egress or occupancy.”
- Alteration, filed Jun 5, 2026, estimated cost $498K, described as “Propose to perform install mechanical condensing units. No change in use, egress or occupancy.”
- Alteration, filed May 15, 2026, estimated cost $253K, described as “Propose to perform interior renovation of non-load bearing partitions. No change in use, egress or occupancy.”
- Alteration, filed May 6, 2026, estimated cost $1K, described as “Non advertising, accessory, non illuminated business sign on wall. Sign wording: 50 water street”
- Alteration, filed Jan 12, 2026, estimated cost $1.3M, described as “Interior renovation consisting of demolition and construction of non-load bearing partitions & lighting. No change in use, egress or occupancy.”
- Alteration, filed Jan 12, 2026, estimated cost $108K, described as “Propose plumbing and sprinkler modifications as per drawings filed herewith. No change in use, egress or occupancy.”
- Alteration, filed Jan 12, 2026, estimated cost $418K, described as “Propose mechanical work as per drawings filed herewith. No change in use, egress or occupancy.”
- Alteration, filed Aug 11, 2025, estimated cost $325, described as “Install exterior non-illuminated wall sign (PICKLE1)”
- Alteration, filed Jul 22, 2025, described as “Installation and use of temporary suspended scaffold for facade inspection and minor repairs. No change to use, egress, or occupancy under this application”
- Alteration, filed Jul 15, 2025, estimated cost $1K, described as “Installation and use of temporary sidewalk shed equipment as per plans filed herewith. No change to use, egress or occupancy under this application.”
- Alteration, filed Jun 11, 2025, estimated cost $5K, described as “Temporary tent for an event in the accessory terrace. Removed at the end of the programing. No changes to existing structures, use or egress”
- Alteration, filed May 8, 2025, estimated cost $230K, described as “Alteration for interior work to non-bearing partitions on first floor (no change in bulk, use, occ or egress).”
- Alteration, filed Feb 24, 2025, estimated cost $15K, described as “Propose to perform plumbing and sprinkler work. No change to use, egress or occupancy.”
- Alteration, filed Feb 24, 2025, estimated cost $250K, described as “Propose to install HVAC units. No change to use, egress or occupancy.”
- Alteration, filed Jan 16, 2025, estimated cost $150K, described as “Propose to install new interior partitions. No change to use, egress or occupancy.”
- Alteration, filed Oct 23, 2024, described as “Installation of outrigger for facade repair & inspection.”
- Alteration, filed Oct 22, 2024, estimated cost $3K, described as “Installation of a temporarily heavy-duty sidewalk shed per plan submitted. Work shall comply with 2022 building codes chapter 33. No change in use, egress and/or occupancy with this application.”
- Alteration, filed Sep 24, 2024, estimated cost $5K, described as “Temporary tent for an event in the accessory terrace, for rain contingency. Removed at the end of the programing. No changes to existing structures, use or egress”
- No Work, filed Sep 18, 2024, described as “Alger's 60th Anniversary - September 26, 2024 - 5:00PM - 11:59PM - 300 Guests”
- Alteration, filed Aug 20, 2024, estimated cost $19K, described as “Limited Interior renovation to existing office space at 21st floor and 23-25 floor , remove partition .all as per plan no change in use egress or occupancy .”
- Alteration, filed Jul 24, 2024, estimated cost $375, described as “Install exterior non-illuminated wall sign (the hungry pearl)”
- Alteration, filed Jul 24, 2024, estimated cost $375, described as “Install exterior non-illuminated double faced blade sign on wall (the hungry pearl)”
- Alteration, filed Jul 24, 2024, estimated cost $250, described as “Install exterior non-illuminated double faced blade sign on wall (the hungry pearl)”

101 more, older permits are in this building’s full list on the map: https://umarelli.org/nyc/1000307501/7-hanover-square.

## Property taxes

- Assessment: $161,642,754
- 2026–27 tax: $3,660,365
- Market value (city estimate): $359,206,105
- Taxable value: $61,387,357
- Assessed land: $23,340,154
- Assessed improvements: $138,302,600
- Condo units with their own tax lots: 15

## Tax breaks

- Nonprofit exemption (charitable), with no end date, about $998,414 a year below the full tax.
- Nonprofit exemption (mental or moral improvement), with no end date, about $419,828 a year below the full tax.

## Zoning

C5-5: floor area ratio 20.46 built, above the 15.00 base zoning allows, which bonuses, transfers or older rules can permit.

## Recent sales

- Oct 17, 2022: $8,062,936, Apt OU2
- Oct 5, 2020: $15,518,621, Apt OU4, sold with other lots

Open-market sales since 2016, from the Department of Finance’s sales files.

## Flood zone

Current FEMA flood map: zone AE, high risk: a 1% chance of flooding each year, base flood elevation 10 ft (NGVD29). FEMA’s preliminary map: zone AE, high risk: a 1% chance of flooding each year, base flood elevation 11 ft (NAVD88).

## In the news

[100 Pearl Street’s Exterior Overhaul Progresses in the Financial District, Manhattan](https://newyorkyimby.com/2021/05/100-pearl-streets-exterior-overhaul-progresses-in-the-financial-district-manhattan.html), New York YIMBY, May 4, 2021.

From New York City and Jersey City public records, refreshed within a day of each release. Sources: https://umarelli.org/sources. Methodology and corrections: https://umarelli.org/methodology