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Financial District’s SLCE-designed residential tower rises

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This condo will eventually stand 25-stories tall and have just 29 apartments

Photos by Tanay Warerkar

UPDATE: Curbed previously reported that this is the J&R flagship-replacing building, but this is in fact the construction site for Urban Muse’s 25-story residential tower at 1 Beekman Street. Curbed regrets the error.

Nearly a year after renderings were first unveiled for COOKFOX Architects-designed tower now rising on the grave of the J&R flagship store on Park Row, the structure is now a few floors above ground.

The construction site was largely obscured by scaffolding for the last few months, but the condo tower is now just beginning to peek above it. Developed by L+M Development, in partnership with the owners of the J&R store, this condo building will stand 45-stories tall when it is complete, and bring 110 apartments to the Financial District.

In April this year, the development team closed on a $253 million construction loan from the Bank of the Ozarks, to allow this project to move forward. The condo was rumored to cost just under $500 million, when the first rendering was unveiled last summer.

In addition to the apartments, the building will also come with 55,000 square feet of retail. Construction on the condo is expected to wrap sometime in 2020.

The construction site is located right next to the Thompson Hotels’s The Beekman. Previously the J&R-replacing condo had 23 Park Row as its address, but is now using 25 Park Row. Additionally, the building will now stand 45-stories tall, down from the previous 54-story estimate.

Rendering courtesy Moso Studio