Author Topic: What’s really going on at NYC’s most ‘cursed’ luxury construction sites  (Read 155 times)

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Offline Kamaji

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What’s really going on at NYC’s most ‘cursed’ luxury construction sites

By Steve Cuozzo
April 26, 2023

New York City has come a long way since the dark days of 2020. But if we’re really “back,” as Mayor Eric Adams claims, why are there so many empty lots and unfinished building projects?

It’s depressing that large development sites sit empty, with no work being done, on Fifth Avenue, East and West 57th Street and all over the map in FiDi.

Other projects ground to a halt when new buildings were halfway done.

With no firm completion dates in sight, they stand as rude reminders that big-ticket real estate is a risky business even for the wealthiest and savviest professionals. 

Whether hostage to feuds between partners, neglected by absentee foreign ownership, or in need of new funding thanks to improbable budgeting, here are some of NYC’s most “cursed” building sites.

The “leaning tower” of 1 Seaport
Hoping to cash in on a waterfront development boom, a 670-feet-tall condo tower at the corner of South Street and Maiden Lane on the East River was to have 80 super-luxury apartments to sell for up to $7 million each and offer yacht usage to tenants.

But the job hit the wall in late 2020. The breakdown resulted from entangled financing problems, lawsuits and structural defects that even Houdini couldn’t unravel.

The cursed saga of 1 Seaport has included a construction worker’s death from a fall in 2017, and the discovery that the half-finished tower leans three inches to one side.

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Source:  https://nypost.com/2023/04/26/whats-going-on-at-nycs-most-cursed-construction-sites/

Offline Fishrrman

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"The cursed saga of 1 Seaport has included a construction worker’s death from a fall in 2017, and the discovery that the half-finished tower leans three inches to one side."

Sounds like NYC is gonna have its own version of San Francisco's "Millenium Tower", which is already something like two feet off-kilter and continuing to get worse in spite of attempts to shore it up...

https://www.architecturaldigest.com/story/millennium-tower-san-francisco-leaning
« Last Edit: April 28, 2023, 02:56:22 am by Fishrrman »