Leading off our Turkey Week rundown of prominent stalled projects in New York City is Seaport Residences, a 60-story residential skyscraper at 161 Maiden Lane along the border of Lower Manhattan’s Financial District and the South Street Seaport District. Designed by Hill West Architects and developed by Fortis Property Group, the slender 670-foot-tall tower, originally dubbed One Seaport, was planned to span 200,000 square feet and yield 80 condominium units with interiors by Groves & Co. Ray Builders was the last general contractor to work on the beleaguered project, which stands on a narrow site bound by South Street and Maiden Lane, directly across from the FDR Drive and the East River.
The skyscraper has languished with no progress for the last three years, and there are no indications of work resuming anytime soon. After breaking ground nearly a decade ago, the project famously unraveled in early 2019 over reports that the reinforced concrete superstructure was leaning three inches to the north, leading to a public spat between Fortis and the original contractor, Pizzarotti LLC. Despite its lean, the structure was deemed safe and curtain wall installation resumed later that year under the supervision of a new contractor, Ray Builders, but by our update in September of 2020, significant portions of the glass envelope had been removed for unclear reasons.
Today, the superstructure looms as a forlorn skeleton over the East River waterfront, its future in doubt.
Fortis Property Group originally acquired the property for $64 million was anticipating a sellout of $272 million on the condominium units. It remains unclear if and when work on Seaport Residences will resume.
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Read More:Seaport Residences Remains Indefinitely Stalled at 161 Maiden Lane in Financial District, Manhattan
2023-11-20 13:00:23