NYC’s 23-story condo tower secures $90 million in construction loan

Parkview Financial says it has provided a $90 million construction loan to 1 Park Row Development, an entity of Circle F Capital, for the development of a 23-story mixed-use building in Lower Manhattan/Financial District located at 1 Park Row.

The Class A, 103,000-sq.-ft. property will be comprised of 64,000 sq.-ft. of residential condominiums totaling 58 units, 19,000 sq.-ft. commercial office, retail condos, and amenity areas.

Demolition is now underway on an existing six-story office building, and project completion is anticipated for April 2023.

The average residential condo is 1,160 sq.-ft. with a unit mix of thirty-seven one-bedroom units, nineteen two-bedroom units and two three-bedroom units. The luxury units will feature Hudson River, City Hall and City Hall Park views, 10-foot ceiling heights, Italian kitchens with Calacatta marble countertops and backsplashes, Miele appliances, gas cooktops with vented hoods, Italian Oak floors, and 5-fixture master baths with heated floors.

Community amenities will include a doorman, gym, package room, resident storage, common garden/terrace, children’s playroom and bicycle storage.

1 Park Row is well located at the northeast corner of Park Row and Ann St. where they meet Broadway in Lower Manhattan and is adjacent to City Hall and City Hall Park and the Financial District.

Fogarty Finger is the project architect and the general contractor is New York-based MJM Associates Construction.


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