THE CONDO BOOK PROJECT

25 Park Row Condominium

25 Park Row, Manhattan, NY 10038

Overview

A 110-unit CookFox-designed tower on Park Row from a sponsor tied to the J&R Music World founders and L+M. The plan pairs a fourth-floor amenity level with a 65-foot indoor pool, a robotic parking system and a building manager who lives next door at 15 Park Row.

  • Address: 25 Park Row, New York, NY 10038, in the Special Lower Manhattan District (C5-5 zoning). No landmark status.
  • Plan: CD170208, accepted for filing in September 2018
  • Building: about 666 feet tall, with residences on floors 5 to 22 and 25 to 46. Floors 23 and 24 are mechanical.
  • Residences: 110, from one-bedrooms of about 915 to 1,000 square feet to four-bedroom penthouses of about 3,580 square feet and a five-bedroom penthouse (PH45A) of about 5,956 square feet with a terrace of about 1,020 square feet
  • Other units: one Non-Residential Unit on the lower levels and floors 1 to 4, not offered for sale
  • Parking and storage: 22 parking spaces at $250,000 each and 51 storage lockers of about 23 to 55 square feet at about $28,750 to $68,750, all sold as licenses
  • First offering: all 110 residences at about $428.5 million in total, from about $1.66 million to $25 million each (sponsor offering prices, not sales). With parking and storage, the plan totals about $435.8 million.

Compare

FigureThis building177 Greenwich290 units · 0.4 miaccepted 2019196 Orchard394 units · 1.3 miaccepted 2016
Common ChargesPer Square Foot / Month$1.35In line$1.07$1.35
Average Offering PricePer Apartment$3.9MAbove peers$3.51M$2.18M
Average PricePer Square Foot$2,307In line$2,286$2,328
Property TaxesPer Square Foot / Month$1.35Lowest$1.73$1.85
Average Unit SizeSquare Feet1,688 SFLarger1,534 SF938 SF

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Unit mix, closings, budgets, finishes and the team, against 77 Greenwich and 196 Orchard, cited to the offering plans. No credit card required.

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How We Got This
  • Comps: the closest Manhattan plans on size, $/SF and launch date, within 2 miles when possible.
  • Figures: each building's own offering plan, filed with the NY Attorney General. Nothing is estimated.
  • Checked: a price list publishes only when its math adds up, and building pages cite the plan pages.
  • Labels: In line is between the comps; Below/Above peers is past both by up to 15%; Lowest/Highest by more.

Closings Pro

Homes closed100% of the homes in Schedule A110 of 110
Closing prices vs. Schedule A110 homes: $408,251,022 at closing against $428,530,000 in Schedule A (p. 59, p. 60, p. 61)−4.7%
Average closing price110 homes, on their Schedule A square feet$2,198 / SF
Closingsfirst and latest recordedJul 13, 2020 – Jan 17, 2025

Sales recorded with the Department of Finance (ACRIS) through Sep 30, 2026: deeds, or transfer tax filings for a building on leased land, of $10,000 or more. A home's first sale since the plan was filed is the sponsor's closing; resales aren't counted. Closing prices are compared with the same home's Schedule A price, as first offered; a deed covering more than one home isn't compared. Amendments often change prices before a home closes, and a deed that includes parking or storage counts its full price. ACRIS records a sale weeks after closing, so recent contracts don't appear yet. Every building's sales.

All 110 closings
HomeRecordedClosing priceSchedule ADifference
9BJul 13, 2020$1,920,488$1,890,000 p. 59+1.6%
10DJul 13, 2020$1,755,000$1,755,000 p. 600%
11BJul 15, 2020$1,915,442$1,930,000 p. 59−0.8%
10EJul 17, 2020$3,640,000$3,675,000 p. 61−1%
18BJul 23, 2020$2,175,000$2,225,000 p. 59−2.2%
9CJul 24, 2020$2,500,000$2,475,000 p. 60+1%
7CJul 27, 2020$2,400,000$2,425,000 p. 60−1%
7BJul 28, 2020$1,865,000$1,850,000 p. 59+0.8%
8BJul 28, 2020$1,820,000$1,870,000 p. 59−2.7%
8CJul 28, 2020$2,500,000$2,450,000 p. 60+2%
17BJul 28, 2020$2,225,000$2,200,000 p. 59+1.1%
21BJul 29, 2020$2,255,000$2,300,000 p. 60−2%
10BJul 30, 2020$1,850,000$1,910,000 p. 59−3.1%
19BJul 30, 2020$2,280,000$2,250,000 p. 59+1.3%
11CJul 31, 2020$2,550,000$2,525,000 p. 60+1%
20BJul 31, 2020$2,275,000$2,275,000 p. 600%
6DAug 3, 2020$1,630,000$1,675,000 p. 60−2.7%
10CAug 3, 2020$2,430,000$2,500,000 p. 60−2.8%
22BAug 4, 2020$2,230,000$2,325,000 p. 60−4.1%
28BAug 10, 2020$2,270,000$2,250,000 p. 60+0.9%
31BAug 11, 2020$2,275,000$2,310,000 p. 60−1.5%
6BAug 13, 2020$1,725,000$1,830,000 p. 59−5.7%
12CAug 18, 2020$2,425,000$2,550,000 p. 60−4.9%
30AAug 21, 2020$4,260,000$4,295,000 p. 59−0.8%
9DAug 25, 2020$1,651,720$1,735,000 p. 60−4.8%
30BAug 25, 2020$2,300,000$2,290,000 p. 60+0.4%
7AAug 27, 2020$2,675,000$2,700,000 p. 59−0.9%
25BAug 27, 2020$2,085,000$2,190,000 p. 60−4.8%
6CAug 28, 2020$2,280,000$2,400,000 p. 60−5%
8DAug 28, 2020$1,644,250$1,715,000 p. 60−4.1%
32BAug 28, 2020$2,260,000$2,330,000 p. 60−3%
17ASep 1, 2020$3,500,000$3,550,000 p. 59−1.4%
32ASep 4, 2020$4,234,050$4,365,000 p. 59−3%
26BSep 11, 2020$2,225,000$2,210,000 p. 60+0.7%
14CSep 17, 2020$2,600,000$2,575,000 p. 60+1%
14DSep 18, 2020$4,250,000$4,350,000 p. 60−2.3%
27BSep 18, 2020$2,215,000$2,230,000 p. 60−0.7%
29CSep 24, 2020$3,750,000$3,835,000 p. 60−2.2%
30CSep 24, 2020$3,650,000$3,870,000 p. 60−5.7%
5DOct 30, 2020$1,705,000$1,655,000 p. 60+3%
35ANov 4, 2020$3,650,000$3,855,000 p. 59−5.3%
7DNov 6, 2020$1,617,750$1,695,000 p. 60−4.6%
31CNov 13, 2020$3,650,000$3,905,000 p. 60−6.5%
33BNov 19, 2020$2,300,000$2,350,000 p. 60−2.1%
5ENov 24, 2020$3,750,000$3,750,000 p. 600%
36BNov 24, 2020$5,335,000$5,335,000 p. 600%
34BDec 7, 2020$5,650,000$5,650,000 p. 600%
5BDec 9, 2020$1,815,000$1,800,000 p. 59+0.8%
25CDec 10, 2020$3,325,000$3,695,000 p. 60−10%
37BDec 17, 2020$5,299,000$5,385,000 p. 60−1.6%
33ADec 18, 2020$4,287,500$4,400,000 p. 59−2.6%
14BDec 21, 2020$1,975,000$1,970,000 p. 59+0.3%
PH45ADec 23, 2020$19,500,000$25,000,000 p. 61−22%
5CDec 30, 2020$2,325,000$2,375,000 p. 60−2.1%
12BDec 30, 2020$1,850,000$1,950,000 p. 59−5.1%
39BJan 20, 2021$5,590,000$5,485,000 p. 60+1.9%
29BJan 29, 2021$2,180,000$2,270,000 p. 60−4%
40BFeb 3, 2021$5,653,001$5,535,000 p. 60+2.1%
9AFeb 18, 2021$2,550,000$2,750,000 p. 59−7.3%
29AFeb 23, 2021$3,950,000$4,260,000 p. 59−7.3%
38BMar 11, 2021$5,540,000$5,435,000 p. 60+1.9%
32CMar 25, 2021$3,650,000$3,940,000 p. 60−7.4%
28CApr 21, 2021$3,550,000$3,800,000 p. 60−6.6%
31AApr 27, 2021$4,050,000$4,330,000 p. 59−6.5%
19AApr 28, 2021$2,775,000$2,975,000 p. 59−6.7%
35BMay 19, 2021$5,200,000$5,285,000 p. 60−1.6%
7EMay 20, 2021$3,500,000$3,555,000 p. 61−1.5%
33CMay 27, 2021$3,800,000$3,975,000 p. 60−4.4%
8EJun 4, 2021$3,550,000$3,590,000 p. 61−1.1%
8AJun 14, 2021$2,550,000$2,725,000 p. 59−6.4%
20AJun 21, 2021$2,850,000$3,000,000 p. 59−5%
27CJun 22, 2021$3,600,000$3,765,000 p. 60−4.4%
40AJul 7, 2021$3,680,000$4,075,000 p. 59−9.7%
28AJul 19, 2021$4,150,000$4,225,000 p. 59−1.8%
22AJul 30, 2021$3,050,000$3,100,000 p. 59−1.6%
9EAug 16, 2021$3,595,000$3,625,000 p. 61−0.8%
16AAug 17, 2021$2,755,000$2,900,000 p. 59−5%
38AAug 18, 2021$3,735,000$3,960,000 p. 59−5.7%
11DSep 21, 2021$4,900,000$4,950,000 p. 60−1%
27ASep 24, 2021$4,137,188$4,190,000 p. 59−1.3%
26CSep 27, 2021$3,520,000$3,730,000 p. 60−5.6%
15BOct 5, 2021$7,000,000$7,650,000 p. 59−8.5%
15COct 14, 2021$4,402,583$4,370,000 p. 60+0.7%
34AOct 18, 2021$3,975,000$4,175,000 p. 59−4.8%
37AOct 18, 2021$3,750,000$3,925,000 p. 59−4.5%
39ANov 9, 2021$3,740,000$3,995,000 p. 59−6.4%
PH41ANov 22, 2021$11,500,000$12,500,000 p. 61−8%
PH42ANov 22, 2021$11,500,000$12,500,000 p. 61−8%
6EDec 8, 2021$3,475,000$3,520,000 p. 60−1.3%
14ADec 10, 2021$2,750,000$2,850,000 p. 59−3.5%
22CDec 16, 2021$4,500,000$4,595,000 p. 60−2.1%
36ADec 30, 2021$3,800,000$3,890,000 p. 59−2.3%
PH44AJan 20, 2022$12,000,000$12,950,000 p. 61−7.3%
18CFeb 10, 2022$4,350,000$4,455,000 p. 60−2.4%
12AMar 10, 2022$2,775,000$2,825,000 p. 59−1.8%
21AMar 22, 2022$2,945,000$3,050,000 p. 59−3.4%
10AApr 5, 2022$2,735,000$2,775,000 p. 59−1.4%
18AApr 8, 2022$2,825,000$2,950,000 p. 59−4.2%
26AApr 27, 2022$3,950,000$4,155,000 p. 59−4.9%
11AApr 29, 2022$2,750,000$2,800,000 p. 59−1.8%
PH43AMay 10, 2022$12,000,000$12,750,000 p. 61−5.9%
21CMay 17, 2022$4,500,000$4,560,000 p. 60−1.3%
25AJun 2, 2022$4,083,000$4,120,000 p. 59−0.9%
5AOct 4, 2022$6,350,000$6,595,000 p. 59−3.7%
17COct 25, 2022$4,330,000$4,420,000 p. 60−2%
20CMay 1, 2023$4,305,000$4,525,000 p. 60−4.9%
16CSep 6, 2023$4,060,000$4,405,000 p. 60−7.8%
19CFeb 7, 2024$3,950,000$4,490,000 p. 60−12%
12DMar 19, 2024$3,725,000$4,300,000 p. 60−13.4%
15AJan 17, 2025$3,640,052$4,150,000 p. 59−12.3%

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Every home's recorded closing price against its Schedule A price, with the ACRIS document and the plan page.

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Budget

What It Costs to Run

The sponsor projected a first-year budget (June 2020 to May 2021) of about $3.18 million. Residences carry about $3.01 million of it. The Non-Residential Unit pays about $148,000, and parking licensees cover the roughly $20,000 garage cost. Here's how that works out in monthly common charges, per Schedule A:

  • About $1,100 to $1,250 a month for one-bedrooms.
  • About $1,370 to $2,440 for two-bedrooms and about $2,240 to $3,390 for three-bedrooms.
  • About $5,860 to $6,110 for the four-bedroom penthouses and about $10,330 for PH45A.
  • Parking licensees pay a projected $79 a month more.

Schedule A puts each unit's projected first-year real estate taxes at about the same amount as its common charges, about $3.6 million for the building. The plan expects about $4.3 million once the tower is assessed as complete. It doesn't describe a tax abatement.

Notable lines:

  • Staff: about $1.04 million.
  • Common electricity: about $844,000, including the cooling tower.
  • Insurance: about $289,000, including a $100 million umbrella policy.
  • Service contracts and supplies: about $226,000, including elevator, window-rig and Wi-Fi repeater service.
  • Gas: about $140,000 for heat and hot water and about $85,000 for apartment cooking, dryers and fireplaces, which aren't metered per unit.
  • Management fee: $72,000 to Halstead, on a three-year term.

Good to know: the plan sets up no reserve fund, and the $50,000 contingency isn't meant for major repairs. You'll pay two months of common charges into working capital at closing. For why budgets like this vary, see why operating costs differ and our common charge benchmarks.

From our research: The Sponsor's Condo-Creation Fee in NYC · NYC Condo Insurance Costs Are Rising · Condo Supplies Cost per Unit, by Size

The Building

Finishes

Kitchen packages step up with apartment size (compare with our NYC condo finishes guide). Every brand comes with "or equal" language, so the sponsor can substitute items of equal or better quality.

Kitchen

  • One- and two-bedrooms: a Miele 30-inch refrigerator, 30-inch gas cooktop, hood, wall oven, speed oven and dishwasher, plus a U-Line wine cooler.
  • Larger layouts: a 36-inch Miele refrigerator. Three- and four-bedrooms get a 36-inch Miele gas cooktop.
  • Four- and five-bedroom layouts: separate Miele refrigerator and freezer columns, a 42-inch cooktop, a steam combi oven, a warming drawer and a Sub-Zero wine cooler. PH41A to PH45A add a Sub-Zero wine tower, and PH45A gets a second warming drawer and a wet bar.
  • Veneer wood and custom lacquered cabinets, marble counters and marble backsplashes.

See how these brands compare in our kitchen appliance brands guide.

Baths

  • Fittings: Kallista throughout, including its Vir Stil Minimal sink fittings. Toilets are Toto Drake II.
  • Tubs: a Waterworks Cambridge or Kohler Maestro tub in primary baths and a Kallista Barbara Barry tub in secondary baths. Penthouse primary baths get a freestanding Kallista tub.
  • Stone vanity tops on custom bases, stone or tile wainscot on every wall, glass shower enclosures.
  • Electric radiant floor heat in primary baths and in baths along the building's outer walls.

See how these names rank in our bathroom brands guide.

Floors, Ceilings and Windows

  • Engineered wood floors over a sound mat and a gypcrete leveling layer, with 9-inch solid hardwood base.
  • Living rooms and bedrooms typically have ceilings of at least 10 feet. Foyers, halls, kitchens, baths and closets drop to about 8 feet.
  • Low-E, low-iron insulated glass in thermally broken aluminum frames, set in an insulated precast concrete facade. There's no curtain wall. The wall and windows are designed for a minimum OITC sound rating of 25.

Laundry, Heating and Cooling

  • Every apartment has a washer and dryer. One- and two-bedroom packages list compact Bosch machines; larger layouts list LG. Dryers vent to a central exhaust.
  • Water-source heat pumps (HTS vertical or Daikin ceiling units) heat and cool each apartment, fed by gas boilers and a rooftop BAC cooling tower. PH45A's living area uses a rooftop heat pump.
  • Fresh air is piped to each apartment through energy recovery units.
  • A cellar laundry room adds washers and dryers run by an outside vendor and paid by credit card.

More on these systems in our guide to NYC condo heating and cooling.

Amenities, Staffing & Transportation

Nearly everything sits on the fourth floor, with an outdoor garden one level up (see how this compares in our amenity formula study).

Fourth Floor

  • Pool: an indoor stainless-steel pool of about 65 by 18 feet, 3.5 to 4 feet deep, heated and treated with ultraviolet light. It's closed when no lifeguard is on duty.
  • Fitness: a gym, locker rooms with a sauna and steam shower, and a massage room.
  • Social and play: a lounge, bar, dining room with a demonstration kitchen, reading room, game room, media room, golf simulator, yoga studio and a playroom.
  • Bike room: 60 bicycle spots.

Fifth-Floor Garden and the Cellars

  • Garden: a planted common terrace with a lawn, an outdoor kitchen and dining area with barbecues, and a gas fire pit.
  • Cellar: a pet grooming room, the storage lockers and the common laundry.
  • Parking: entered from Theatre Alley, with four electric car chargers. Spaces 14 to 16 only fit cars up to about 5 feet 8 inches tall.

Good to know: the board can charge fees for the amenities, set hours and book rooms for private events. A neighbor's chimney at 15 Park Row hangs over part of the common terrace and will stay there. See our guide to deeded vs. licensed parking.

Staffing and Services

The plan promises a doorman in the lobby 24/7. The budget assumes a non-union staff:

  • A building manager at a $100,000 base salary, living in a leased apartment nearby (expected at 15 Park Row).
  • A concierge around the clock and a doorman 16 hours a day.
  • One handyman and four porters, each 40 hours a week.

Wages, taxes and benefits come to about $1.04 million. An outside operator will run the amenity floor and supply lifeguards for about $125,000. Halstead will manage the building. See where condo common charges go.

Transportation

  • Subway: 2 min walk to Fulton St 2 3 4 5 A C J Z; Chambers St/WTC/Park Place/Cortlandt St 2 3 A C E R W, 3 min
  • Parking: 22 parking units in the plan

Fine Print

What's Specific to It

  • A robotic garage: 21 of the 22 parking spaces sit in a semi-automated system. You summon your platform with a PIN or swipe card, drive on and send it back. The space is unattended.
  • A building manager who lives next door: the condo plans to lease an apartment at 15 Park Row, a property owned by affiliates of the sponsor's principals, for about $76,000 a year.
  • Gas fireplaces: the five penthouses on floors 41 to 45 get a Town and Country gas fireplace, and the budget pays for that gas.
  • Everyone chips in for the handicap space: at closing, each buyer pays a share of the $250,000 handicap parking space the condo will own, from about $1,100 to about $10,300 depending on the unit.
  • A pool that may come late: the plan warns that the swimming pool may not open until 24 months after the first closing. Other amenities and full staffing may take about 12 months.
  • No 13th floor: the building has 45 above-grade construction floors but uses marketing numbers 1 to 46, skipping 13.

25 Park Row stands mid-block on Park Row between Ann and Beekman Streets, with a back frontage on Theatre Alley and a subway tunnel under the street out front. Its offering plan tells you what's in the apartments, who runs the building and what it should cost to operate.

Fine Print Worth Knowing

  • The sponsor can rent instead of sell: it only needs to sell 15% of the residences (17 units) to declare the plan effective, so buyers who live here may never control the board.
  • No listing for a year: until 12 months after the first closing, you can't list or advertise your unit without the sponsor's consent. Resell before that anniversary and you owe the sponsor 5% of the price.
  • Lot line windows: some apartments have windows on the north and south lot lines. If a neighbor builds, the owner may have to pay to close them, estimated at about $5,000 a window.
  • Neighbors and services: affiliates of the sponsor's principals own 15 Park Row and 1 Park Row. Verizon and Charter service enters through 15 Park Row, and its owners can take that entry back.
  • Backup power: a 500 kW gas generator on the roof keeps the refrigerator, some lights and two outlets running in apartments on floors 34 and up. Storage lockers aren't on backup power. Monthly generator tests may be noisy.
  • Window washing: owners clean their own windows. PH45A must use the building's facade rig, at its own cost, and pays a higher share of common charges for it.
  • Other rules: no smoking anywhere in the building, white backing on all window treatments, and a short limited warranty: 1 year for hidden defects and 6 months for visible ones.

Team

  • Sponsor: Park Row 23 Owners LLC. Its principals are Rachelle Friedman and Joseph Friedman, founders of J&R Music World, and David Dishy of L+M.
  • Architect: CookFox Architects (design architect and architect of record)
  • Structural engineer: WSP Parsons Brinkerhoff
  • Mechanical engineer: Buro Happold
  • Construction lender: Bank of the Ozarks, with mezzanine financing from NYPR 23 Funding A LLC
  • Managing agent: Halstead
  • Selling agent: Corcoran Sunshine Marketing Group
  • Sponsor's counsel: Starr Associates
  • Budget expert: Penmark Property Advisors
  • Tax projection: Metropolitan Valuation Services

The plan doesn't name an interior designer.

Nearby

FAQ

Does 25 Park Row have a pool?

Yes. The fourth floor has an indoor pool of about 65 by 18 feet next to the gym, sauna and steam room, with lifeguards from an outside amenity operator. The plan warns that the pool may not open until 24 months after the first closing.

How does parking work at 25 Park Row?

The building has 22 parking spaces sold as licenses at $250,000 each. Twenty-one sit in a semi-automated system off Theatre Alley, where you call up your platform by PIN or card. The 22nd is a self-park handicap space the condo will own, and every buyer pays a share of its cost at closing.

Is the staff union?

No. The first-year budget assumes a non-union staff of a live-out building manager, a 24-hour concierge, a doorman 16 hours a day, a handyman and four porters, costing about $1.04 million a year.

Where this comes from: the building's offering plan (CD170208) as filed with the New York Attorney General, including its Special Risks, Description of Property and Improvements, Schedule A, Schedule B, Real Estate Taxes and Identity of Parties. Prices are the sponsor's offering prices, not sales, and budget figures are the sponsor's first-year projections. Later amendments may change them. Updated October 2026.