One Park Row: What the Offering Plan Says About This Lower Manhattan Condo
One Park Row is a new 24-story Lower Manhattan condo with 64 apartments over retail and office units. Its offering plan specifies Gaggenau gas kitchens, Waterworks baths and a 24/7 non-union doorman, plus amenities on the 7th floor, 22nd floor and roof. It also shows no 421-a abatement, buyer-paid transfer taxes and storage sold as revocable licenses.
In brief: One Park Row is a new 24-story condo at the corner of Park Row and Ann Street in Lower Manhattan, with 64 apartments, from studios to a three-bedroom penthouse, above a retail unit and three office units. The offering plan specifies Gaggenau gas kitchens, Waterworks fittings and white oak floors throughout, and staffs a 24/7 non-union doorman. Amenities are spread over three levels: a 7th-floor gym and terrace, a 22nd-floor lounge with a dog run, and a roof terrace with a gas grill. Because the building gets no 421-a abatement, the plan projects real estate taxes that are higher than common charges for every apartment.
What's Specific to It
- Taxes outweigh common charges. The plan says the building isn't eligible for 421-a, so projected monthly taxes run roughly 1.5 times each unit's common charges.
- You pay the transfer taxes. The sponsor shifts the New York State and New York City transfer taxes, normally a seller cost, to buyers.
- A 22nd-floor lounge with a bar, a prep kitchen with Gaggenau appliances, and a small dog run next to an outdoor terrace.
- Commercial owners pay a fixed 15% of the building budget, a split that can't change without their consent.
- Storage rooms are revocable licenses, not deeded space, with no monthly fee and a one-per-owner limit at first.
- Gas cooking is in the common charges. Apartments aren't separately metered for cooking gas.
One Park Row is a new-construction condo at 1 Park Row, on the corner of Ann Street near City Hall Park. The Attorney General accepted its offering plan in November 2024. That plan is the document the developer files before selling apartments (here's what an offering plan is), and it spells out details listing sites rarely mention.
At a Glance
- Size: 64 apartments, one retail unit and three office units (the commercial units are held back from the initial offering), plus 28 cellar storage rooms. The building is 24 stories.
- Layouts: 16 studios of roughly 430 to 450 sq ft, 26 one-bedrooms, 18 two-bedrooms, and four three-bedrooms. The largest is the 23rd-floor penthouse, at about 1,990 sq ft with roughly 1,470 sq ft of private outdoor space.
- Offering prices: the sponsor's prices in the plan range from $775,000 for a studio to just under $8 million for the penthouse. These are first asking prices, not sales.
- Common charges: roughly $740 to $4,300 a month, under the sponsor's first-year projection.
- Staff: a 24/7 doorman, a non-resident manager, a porter and a handyperson, all non-union.
Finishes
The plan's description of the building lists finishes by brand and model. To see how these compare with other new buildings, read NYC condo finishes since 2010.
Kitchen
- Gaggenau cooking, on gas. Every apartment gets a Gaggenau gas cooktop and oven. Sizes scale with the apartment: 24-inch in studios, 30-inch in one- and two-bedrooms, and 36-inch cooktops in the three-bedrooms and penthouse.
- Panel-ready Gaggenau refrigerators and Bosch panel-ready dishwashers. Apartments with one or more bedrooms also get a Gaggenau drawer microwave.
- Extras: the one- to three-bedrooms get an 18-inch Zephyr beverage fridge. The penthouse gets a Gaggenau wine refrigerator plus a U-Line wine unit.
- Hoods: Bosch pull-out hoods, with a Gaggenau recirculating kit listed for all kitchens, and an island hood in the penthouse.
- Surfaces and fittings: a Breccia Grigio marble backsplash, wood veneer cabinets with brass hardware, a Blanco stainless sink and a Vola faucet.
Bathrooms
- Primary baths: a wall-hung Toto toilet with a Geberit in-wall system, a Kohler undermount sink, stone tile and a glass shower panel.
- Fittings: Waterworks throughout, mostly polished nickel. Powder rooms switch to unlacquered brass.
- Tubs: a Kohler Underscore undermount tub where there's a bath, and a freestanding Kohler tub with a floor-mounted Waterworks filler in the penthouse.
- Secondary baths get a Toto Carlyle toilet and marble tile.
For more on these brands, see bathroom brands in NYC luxury condos.
Floors, Windows, Laundry and Climate
- Floors: 7-inch-wide white oak planks in a light, ultra-matte finish, over a sound-control mat.
- Windows: thermally broken aluminum by Linea Rossa with insulated glass. The plan notes no screens or window guards are provided.
- Laundry: a stacked, ventless washer and dryer in every apartment. One section names Bosch and another names LG, so ask which you'll get.
- Heating and cooling: VRF units (LG or similar), with fresh air through central energy-recovery ventilators. Hot water comes from gas heaters on the roof.
Amenities
The plan restricts the amenities to apartment owners and occupants, so the retail and office owners can't use them. All of them are on three floors and the roof:
- 7th floor: a fitness center of about 680 sq ft with a 14-person maximum, next to an outdoor terrace of about 580 sq ft.
- 22nd floor: an indoor lounge of about 1,340 sq ft with a bar (ice maker and undercounter fridge), a prep kitchen with Gaggenau appliances, and dining and seating areas. Outside is about 2,265 sq ft of terrace, including covered space and a dog run of about 375 sq ft with room for two people at a time.
- Roof: a terrace on the north edge with an outdoor sink, a built-in Napoleon gas grill, an outdoor fridge and an ice maker. It holds up to 13 people.
- Cellar: a key-fob bike room with 32 spaces, first come, first served.
- Lobby: a mail room near the front desk and a separate package room.
Good to know: the plan doesn't list a pool, a children's playroom or parking. Pets are limited to one dog of 60 pounds or less, one cat, one bird and fish, unless the board approves otherwise in writing. Compare amenities at other buildings in NYC condo amenities by building size.
Staffing and Services
The first-year budget plans for:
- A doorman 24 hours a day, 7 days a week. That takes about 4.2 full-time positions.
- A non-resident manager, plus one full-time porter and one full-time handyperson.
- Non-union staff. The plan expects employees won't be union members and doesn't assume prevailing wages.
Wages, payroll taxes and benefits come to about $664,000, nearly half of the roughly $1.42 million budget. For context, read what a doorman costs in an NYC condo.
What It Costs to Run
The sponsor projects a first-year budget of about $1.42 million. Apartment owners cover about $1.36 million of it and the commercial units cover the rest. Notable lines:
- Staff: about $664,000, the largest line.
- Services and supplies: about $164,000, including roughly $50,000 for window washing and rig maintenance and $30,000 for the elevator contract.
- Reserve: about $124,000 (about 3% of the budget), plus a $50,000 contingency.
- Management fee: $60,000 a year to Halstead Management.
Tip: budget for taxes as well as common charges. The plan projects about $2 million a year in residential real estate taxes, roughly $1,100 to $6,300 a month per apartment. For more, see common charge benchmarks and why operating costs differ between buildings.
Fine Print Worth Knowing
- No 421-a. The plan says the condo isn't eligible. The commercial units have applied for the ICAP abatement, which doesn't lower apartment taxes.
- Closing costs: on top of the transfer taxes, you pay two months of common charges as working capital and $3,500 to the sponsor's attorney. If you close late, the sponsor can charge 16% a year on the purchase price.
- Storage licenses: a $500 security deposit and a $1,000 legal fee. Licenses can only be sold to other apartment owners.
- Sponsor control: the sponsor can hold a board majority until every apartment sells, and a minority seat while it owns a commercial unit.
Who's Behind It
- Sponsor: 1 Park Row Development, LLC. The plan names Circle F Capital as the company behind it.
- Architect: Fogarty Finger.
- Selling agent: SERHANT.
- Managing agent: Halstead Management.
- Sponsor's counsel: Moritt Hock & Hamroff.
Common Questions
Does One Park Row have a tax abatement?
Not for the apartments. The plan says the building isn't eligible for 421-a, so its tax estimates are full, unabated taxes.
Is there a doorman?
Yes. The budget staffs a 24/7 doorman, along with a non-resident manager, a porter and a handyperson, all non-union.
Do apartments have washers and dryers?
Yes. Every apartment has a stacked, ventless washer and dryer in a laundry closet.
Are pets allowed?
Yes, within limits: one dog of up to 60 pounds, one cat, one bird and fish, unless the board approves more in writing.
Where this comes from: the building's offering plan (CD240038), accepted by the New York Attorney General in November 2024, including its Schedule A prices and Schedule B first-year budget. Figures are the sponsor's projections and may change by amendment. Updated October 2026.