A new Lower Manhattan luxury rental building designed to reflect the semi-industrial feel of the old South Street Seaport, will be completed next month after years of delays, the Wall Street Journal reported.
The building, at 254 Front Street, at Dover Street, near the South Street Seaport, was purchased in 2004 by developer Barry Akrongold and was planned to be condominiums. However, the project’s lender, the Bank of Smithtown, never funded the construction, and Ben Shaoul’s Magnum Real Estate bought the project, though no date is listed in the Journal article or on Streeteasy.com. The controversial developer then turned the building into rentals. [more]









