Circle F Capital Secures $90M Construction Loan For Mixed-Use Development At 1 Park Row

A $90 million construction loan has been provided by Parkview.Financial to 1 Park Row Development, LLC, an entity of Circle F Capital, for the development of a 23-story mixed-use building in Lower Manhattan/Financial District. The property, located at 1 Park Row, will consist of residential condominiums, commercial office space, retail condos, and amenity areas. The building will span 103,000 square feet, with 58 residential units totaling 64,000 square feet and 19,000 square feet allocated for commercial office and retail spaces. The project is expected to be completed by April 2023 after the demolition of an existing six-story office building.

Summary of transaction details

• Property Type: Mixed-use
• Transaction Amount: $90,000,000
• Property Address: 1 Park Row
• Market: FiDi
• Property Size: 84,000 square feet
• Lender: Paul Rahimian of Parkview.Financial
• Landlord: Circle F Capital

Paul Rahimian of Parkview.Financial served as the lender for this transaction, providing the $90 million construction loan. Circle F Capital, represented by its entity 1 Park Row Development, LLC, will oversee the development of the mixed-use building. The project involves the demolition of an existing six-story office building to make way for the 23-story property, which will offer both residential and commercial spaces, including residential condominiums, commercial office areas, retail condos, and amenity areas. The completion date for the project is targeted for April 2023.