L+M Development is nearly finished demolishing J&R Music and Computer World’s former flagship at 23-32 Park Row in the Financial District to make way for a 54-story residential tower, and we have the first rendering of the planned skyscraper.
YIMBY stumbled across this image on the website for Primary Capital, which is handling the EB-5 fundraising for this project. The firm pegs the total construction cost at $492 million, and L&M is seeking $49 million in EB-5 funding.
Designed by COOKFOX, the building will reach 691 feet into the air across from City Hall Park. In terms of height, it will rival The Beekman, the 700-foot-tall residential building under construction across the street.
Plans for 23 Park Row were first filed with the Department of Buildings in April, and they haven’t changed since. The finished development would hold 52,586 square feet of retail and 213,072 square feet of residential space. The residential portion would include 108 condos, and the average unit would measure 1,970 square feet.
The development will also have a laundry list of luxury amenities on the fifth floor, including a shared terrace, playroom, gym, and lounge, and a 13-car garage on the ground floor.
L+M is partnering with the owners of J&R, Joe and Rachelle Friedman, to develop the building.
The white-panelled structure will replace four commercial buildings at 23, 29, 31, and 33 Park Row.