5 Hanover Square is a 25 floor office building located on the northern side of Hanover Square between Pearl and Beaver Streets in Manhattan’s Financial District (FiDi) neighborhood. The Property contains approximately 330,000 rentable square feet including approximately 7,500 square feet of retail on the ground floor. The building, located four blocks from the New York Stock Exchange, was completed in 1962.
Under Swig Equities ownership, 5 Hanover Square was completely redeveloped with an approximately $28 million capital improvement program which has repositioned the property as a luxury boutique office building offering first class tenant services, amenities and security. Elements of the redevelopment include: (i) new building entrance, lobby and storefronts, (ii) complete replacement and upgrading of the elevator system and new cabs paneled with Japanese Temo wood, (iii) improvement of the common areas, (iv) entirely new and reconfigured HVAC system and entirely new and upgraded electrical system; (v) build out of tenant spaces, and new core bathrooms and public areas, (vi) installation of completely new fire/life safety systems; (vii) the entire two-story façade front was replaced with a modern clean lined glass façade allowing a warm “glow” of light to emanate from the newly created lobby entrance which was relocated to the center of the building.
Additionally, a program to redevelop the Hanover Square Park in front of the building has been completed by the British Memorial Garden Trust which has resulted in the redesign and redevelopment of the park as the British Memorial Garden at Hanover Square. The work includes upgraded sidewalks, new landscaping, stonework and the installation of a rotating art sculpture program.