3650 REIT has provided a $50 million loan to support the completion of 1 Park Row, a condominium project located in the Financial District. The loan was extended to Circle F Capital and will facilitate upgrades and expedite the project’s timeline following disruptions caused by the pandemic.
Situated at City Hall Park’s southern end, 1 Park Row boasts 62 residential units with amenities such as a fitness center, garden terrace, and indoor/outdoor resident lounge floor.
According to Jonathan Roth, co-founder and managing partner of 3650 REIT, their unique ability to fill gaps in capital for well-located projects already under construction is one of their core advantages in today’s market. He also stated that mid-stream projects like this can benefit from additional enhancements.
