High-rise commercial buildings

Sub Markets

Property Sectors

Topics

New York & Tri-State CRE News In Your Inbox.

Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.

New York & Tri-State  + Downtown New York  + Apartments  | 

Parkview Financial Provides Construction Loan for Condo Tower Near City Hall

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

The 103,000-square-foot property will contain 58 residential condominiums, 19,000 square feet of 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.

“1 Park Row will provide new, luxury product to the local market and is poised to have excellent timing for completion, as a full recovery from the pandemic is anticipated prior to its delivery,” said Paul Rahimian, CEO and founder of Parkview Financial.

The project is adjacent to City Hall, City Hall Park and the Financial District. New York-based Fogarty Finger is the project architect and the general contractor is New York-based MJM Associates Construction.

Connect

Inside The Story

Parkview

About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

  • ◦Financing
New call-to-action
New call-to-action