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1 Park Row Update 12/21/21

1 Park Row Prepping for Redevelopment

A 6-story building at 1 Park Row in Manhattan's Financial District is currently being prepared for redevelopment. As it sits, the multi-story retail structure looks like an empty concrete shell of its former self, but with big plans in store for the property, it won't be going anywhere. Other outlets previously reported that the building would be demolished completely, however a change in ownership, architectural consistencies with the redevelopment plans, and the simple fact that it's still standing suggest that the superstructure will be retained as part of the new building.

Back in June, 1 Park Row Development LLC, an entity of the developer, Circle F Capital, obtained a $90 million construction loan from Parkview Financial. The loan will fund the development of a 23-story mixed-use tower. Designed by Fogarty Finger Architects, the 103,000 square foot building will contain 58 condominium units, available in one, two, and three-bedroom configurations. It will also boast 19,000 square feet of retail and office space on the lower floors. The project is expected to finish in April of 2023, and when it does, the redeveloped tower will finally fit in with all the prestigious neighboring addresses that line Park Row.

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