Seaport Residences’ Future Remains Uncertain in Financial District, Manhattan

Seaport Residences. Rendering by Hill West Architects

Work remains stalled on Seaport Residences, a 60-story residential skyscraper formerly known as One Seaport at 161 Maiden Lane in the Financial District. Designed by Hill West Architects and developed by Fortis Property Group LLC with Ray Builders as the contractor, the 670-foot-tall tower is planned to yield 200,000 square feet and 80 units with interior design by Groves & Co.

As the cold winter weather and snow storms continue, the building’s exposed reinforced concrete superstructure has remained largely exposed to the elements and extreme temperatures.

Seaport Residences. Photo by Michael Young

Seaport Residences. Photo by Michael Young

Seaport Residences. Photo by Michael Young

Seaport Residences. Photo by Michael Young

Seaport Residences. Photo by Michael Young

Seaport Residences. Photo by Michael Young

Seaport Residences. Photo by Michael Young

Seaport Residences. Photo by Michael Young

Seaport Residences. Photo by Michael Young

Seaport Residences. Photo by Michael Young

Seaport Residences. Photo by Michael Young

Seaport Residences. Photo by Michael Young

Seaport Residences. Photo by Michael Young

Seaport Residences. Photo by Michael Young

Seaport Residences has endured a number of legal and construction issues since work began several years ago, most notably the alleged three-inch leaning of the superstructure to the north. However, there is potential for the project to one day come to fruition. As the only residential building located along the East River in the Financial District, the majority of the eastern-facing homes homes will have panoramic uninterrupted views and an abundance of natural light. Nearby neighborhood amenities include the expansive Pier 17 complex with the adjacent Tin Building relocation and reconstruction that’s set to come with a seafood-themed market by Jean-Georges Vongerichten, and the Wall Street ferry terminal. The Wall Street district itself is less than ten minutes away by foot, as are a number of subway lines along Broadway, Wall Street, the Oculus and PATH trains at the World Trade Center, and the Fulton Center transit hub.

There is still no revised construction timeline or completion date for Seaport Residences. Whether or not we may see construction resume on the tower this year is still uncertain.

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TFC Horizon

20 Comments on "Seaport Residences’ Future Remains Uncertain in Financial District, Manhattan"

  1. David : Sent From Heaven. | February 19, 2021 at 8:15 am | Reply

    However, the structure’s design is major, and I think that there are something reasons to malfunction: Thanks to New York YIMBY.

  2. 80 units will be purchased and probably used once or twice a year. Anyone see anything wrong with this type of city planning?

    • “probably used once or twice a year.”

      Written with zero evidence to support this claim. Anyone see anything wrong with this type of comment?

      • So what? NYC has always had residents who have wintered elsewhere or at least traveled extensively leaving their apartments temporarily vacant. Many CPW and CPS towers empty out certain times of the year BUT THEY ALWAYS RETURN! And that’s the most important part. I live in Chicago and it’s the same with the Gold Coast and Lincoln Park. Property taxes are still paid – many units remain as investments – and all is well.

        • First, over the years a lot of buildings like this have received property tax abatements, pushed developers, contractors, and construction unions who benefit from the construction and sale of luxury apartments. Second, if the owners don’t live here, they don’t pay income taxes here. The idea of residential development is that it is good for the economy by providing construction jobs and real estate transfer taxes when built and sold and then, from the new residents, income taxes, property taxes, and economic activity as they live and spend money in the city for years. I prefer residential construction that will be occupied by people who will work, pay taxes, and spend money here.

    • Is there a problem with someone buying something and using it when they want ?

  3. “Alleged leaning” is an interesting turn of phrase. Can’t this be proven to be the case?

  4. Michael John Grzelecki | February 19, 2021 at 11:51 am | Reply

    Amazing pics!

  5. This is a lovely looking building, but crazy to think about the new construction glut that’s on the market. Multiple buildings prices similarly in Midtown aren’t selling, and more are still coming on line. Not sure how this is going to play out. Other ones that are either having problems or I assume are difficult sells are:

    Central Park Tower
    111 W 57
    125 Greenwich
    100 E 53
    200 E 59
    138 E 50
    695 First Ave
    35 Hudson Yards
    15 Hudson Yards
    611 W 56

  6. John W. Brierty | February 19, 2021 at 4:54 pm | Reply

    Why the delay in construction?

  7. Everytime I see this building I’m only left saying “what a disgrace.” I really hope something is done about the Seaport Residences sometime soon.

  8. Paul Fitzpatrick | February 19, 2021 at 6:00 pm | Reply

    I’ll tell you what’s wrong with the units only being used only once or twice a year, as if you didn’t know. There’s a glut of ultra-luxury housing being constructed for investors to buy but never have as a permanent residence, which cuts into the tax revenue of the City and State, both burdening everyone else’s taxes and ignoring any needs for housing for actual normal New Yorkers. So I hope this building fails and remains unfinished. NIMBY.

  9. As far as I know,if you own property, you pay property tax weather you sit in it full time or not

  10. Shouldn’t have built it next to Penta Plaza.

    The devil will have his midtown views.

  11. Yay! More “luxury” apts that will sit empty. Hope the homeless camp out in front.

  12. Downtown resident | February 20, 2021 at 4:14 pm | Reply

    I am amazed by people who comment on an article they obviously did not even read.Or don’t fully read or chose to ignore the COMMENT they are commenting on.
    Why a delay? For starters, the building IS leaning, elevators won’t work, windows will fail, doors won’t close. They have even, as mentioned in YIMBY, started to remove pieces of the facade for fear of them falling off .
    Why do we care if people just use them once a year? We care because although they pay property taxes they will pay income tax nor sales tax nor spend their money in our shops or restaurants or hair salons of in daily services to support our community,
    I would prefer to have actual residents who become
    members of my community, attend my church and send their kids to my public schools.

    • Not a Downtown Resident | March 1, 2021 at 2:16 pm | Reply

      The Delay is due to financial issues with the lender & nothing to do with the “Leaning”. Further, the elevators WILL work, the windows WILL NOT fail & the doors WILL close. As far as the façade being removed, that was due to the erector’s methodology of installing the façade in elevation as opposed to wrapping the building on a floor-by-floor basis.

  13. Bet they wish they used skilled union tradesmen to build that structure now!!!

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