161 Maiden Lane

Skyscraper in Manhattan, New York June 2026 April 2023 161 Maiden Lane 161 Maiden Lane from East River.jpg 161 Maiden Lane, seen from Circle Line Sightseeing boat, October 1, 2023 Residential skyscraper 161 Maiden LaneManhattan, New York City, United States 1 Seaport yes 40.7055 -74.0048 dms type:landmark_region:US-NY inline,title On hold 670 ft (205 m)https://www.skyscrapercenter.com/building/seaport-residences/16256 Skycraper Center Seaport Residences March 8, 2023 June 14, 2021 https://web.archive.org/web/20210614050327/https://www.skyscrapercenter.com/building/seaport-residences/16256 live 60 2016 On hold Hill West Architects WSP Global Pizzarotti (until 2019)Ray Builders (2019–2020) Fortis Property Group 161 Maiden Lane (also known as One Seaport, 1 Seaport, Seaport Residences, or The Leaning Tower of New York) is an incomplete mid 670 ft m -tall residential skyscraper on Maiden Lane in the Financial District of Manhattan, New York City, United States. Designed by Hill West Architects, the building overlooks the East River and topped out in September 2018. The building leans three inches (76mm) to the north as a result of the method used to construct its foundation: instead of using deep pilings like neighboring skyscrapers, soil improvement methods were used. 2024, only half of the finishes, including windows, have been installed.The Leaning Tower of New York City https://www.theb1m.com/video/the-leaning-tower-of-new-york-city Beldon Christine March 8, 2023 March 9, 2023 The B1M March 8, 2023 https://web.archive.org/web/20230308195909/https://www.theb1m.com/video/the-leaning-tower-of-new-york-city live Architecture The building was designed by Hill West Architects and interior designer Groves & Co. According to The Wall Street Journal, 161 Maiden Lane's design includes a porte-cochère and a glass curtain wall. In addition, the building is planned to have a health club with a spa, fitness center, and infinity pool.Lach Eric February 3, 2025 The Leaning Tower of New York https://www.newyorker.com/magazine/2025/02/10/the-leaning-tower-of-new-york February 6, 2025 The New Yorker February 5, 2025 https://web.archive.org/web/20250205182844/https://www.newyorker.com/magazine/2025/02/10/the-leaning-tower-of-new-york live The 60-story structure rises 670 ft (205 m). It would have 200,000 ft2 on of space, including 80 residential condominiums. Plans also call for the building to contain 17 storage units, which would be sold to residents. The site was created in the 17th century as part of a program of land reclamation in Lower Manhattan. As a result, the underlying site is made of various debris, followed by a layer of marshland, pockets of glacial sand deposits, and decomposed rock. The underlying layer of bedrock is approximately 155 ft below ground level. The foundation was constructed using a soil improvement method, where material is added to the soil to strengthen it, rather than the piling method, as used by all neighboring skyscrapers. The soil-improvement method ostensibly was intended to reduce the construction costs by 6 yes million (equivalent to $US-GDP 6.0 2014 c 1 million in US-GDP), though it also resulted in uneven settlement, which later caused the tower to lean. History Site acquisition As early as 2007, Bluerock Properties had proposed a 52-story building at 161 Maiden Lane, near the shore of the East River, in the Financial District of Lower Manhattan in New York City. Bluerock planned to have the tower designed by Rogers Marvel Architects.Hylton Ondel July 20, 2015 From Clipper Ships to Condos: Construction Begins on 161 Maiden Lane at the Seaport https://www.6sqft.com/from-clipper-ships-to-condos-construction-begins-on-161-maiden-lane-at-the-seaport/ March 10, 2023 6sqft July 17, 2022 https://web.archive.org/web/20220717030640/https://www.6sqft.com/from-clipper-ships-to-condos-construction-begins-on-161-maiden-lane-at-the-seaport/ live New York City's zoning regulations allowed a building of up to 249,242 ft2 on on the site, of which up to 138,468 ft2 on could be used as apartments.Voien Guelda May 13, 2013 Development Site For Sale NYC – Cushman And Wakefield https://therealdeal.com/new-york/2013/05/13/fidi-development-site-hits-market-with-up-to-75m-price-tag/ March 10, 2023 The Real Deal March 11, 2023 https://web.archive.org/web/20230311013734/https://therealdeal.com/new-york/2013/05/13/fidi-development-site-hits-market-with-up-to-75m-price-tag/ live In 2011, Kay Development bought the site for 41.2 yes million (equivalent to $US-GDP 41.17 2011 c 1 million in US-GDP). the company had planned to develop a 40-story building, the Seaborne, on the site; the building would have contained 175 apartments.Clarke Katherine September 5, 2013 Fortis snaps up FiDi development site for $64M https://therealdeal.com/new-york/2013/09/05/fortis-snaps-up-fidi-development-site-for-64m/ March 10, 2023 The Real Deal March 11, 2023 https://web.archive.org/web/20230311013735/https://therealdeal.com/new-york/2013/09/05/fortis-snaps-up-fidi-development-site-for-64m/ live This structure would have been designed by architect John Fotiadis.Dailey Jessica September 10, 2013 Seaport Site Changes Hands; Will This Tower Soon Rise? https://ny.curbed.com/2013/9/10/10199870/seaport-site-changes-hands-will-this-tower-soon-rise March 10, 2023 Curbed NY October 6, 2022 https://web.archive.org/web/20221006001543/https://ny.curbed.com/2013/9/10/10199870/seaport-site-changes-hands-will-this-tower-soon-rise dead Kay Development placed the land for sale in May 2013 and Fortis Property Group bought the site at 151–161 Maiden Lane in September 2013, paying $64 million (equivalent to $US-GDP 64 2013 c 0 million in US-GDP) for the 11539 ft2 on lot.September 10, 2013 SELLING POINTS: Fortis building downtown tower; Harbor Group makes second apartment buy https://rew-online.com/selling-points-fortis-building-downtown-tower-harbor-group-makes-second-apartment-buy/ March 10, 2023 Real Estate Weekly March 10, 2023 https://web.archive.org/web/20230310220844/https://rew-online.com/selling-points-fortis-building-downtown-tower-harbor-group-makes-second-apartment-buy/ live Construction Construction of the building, then known as One Seaport Residences, began in July 2015.Mashayekhi Rey March 1, 2016 Fortis seeking $272M sellout at 1 Seaport condo tower https://therealdeal.com/new-york/2016/03/01/fortis-seeking-272m-sellout-at-1-seaport-condo-tower/ March 10, 2023 The Real Deal March 11, 2023 https://web.archive.org/web/20230311013736/https://therealdeal.com/new-york/2016/03/01/fortis-seeking-272m-sellout-at-1-seaport-condo-tower/ live Jack Resnick & Sons, which owned the similarly named One Seaport Plaza at 199 Water Street, sued Fortis for trademark infringement that September.Amato Rowley September 12, 2015 Developer Sues Developer Over Use of "Seaport" Name https://ny.curbed.com/2015/9/12/9921950/developer-sues-developer-over-use-of-seaport-name March 10, 2023 Curbed NY August 14, 2022 https://web.archive.org/web/20220814034618/https://ny.curbed.com/2015/9/12/9921950/developer-sues-developer-over-use-of-seaport-name dead Mashayekhi Rey September 11, 2015 One Seaport – Jack Resnick & Sons – Fortis Property Group https://therealdeal.com/new-york/2015/09/11/jack-resnick-sons-sues-fortis-over-one-seaport-trademark/ March 10, 2023 The Real Deal March 11, 2023 https://web.archive.org/web/20230311013736/https://therealdeal.com/new-york/2015/09/11/jack-resnick-sons-sues-fortis-over-one-seaport-trademark/ live The two firms came to an agreement in December 2015, when Fortis agreed to market the building using the numeral version of the name, 1 Seaport, for a limited period. After that period had ended, Fortis could not market the building as either "One Seaport" or "1 Seaport".December 22, 2015 Seaport dispute settled https://rew-online.com/seaport-dispute-settled/ March 10, 2023 Real Estate Weekly May 21, 2022 https://web.archive.org/web/20220521101553/https://rew-online.com/seaport-dispute-settled/ live Mashayekhi Rey December 2, 2015 Resnick, Fortis reach settlement in 'One Seaport' dispute https://therealdeal.com/new-york/2015/12/02/resnick-fortis-reach-settlement-in-one-seaport-dispute/ March 10, 2023 The Real Deal March 11, 2023 https://web.archive.org/web/20230311013736/https://therealdeal.com/new-york/2015/12/02/resnick-fortis-reach-settlement-in-one-seaport-dispute/ live Fortis submitted a condominium offering plan for the building to the New York Real Estate Finance Bureau, which approved the plan in late February 2016. Fortis estimated that it would be able to sell 80 condos for a total of $272 million.Rosenberg Zoe March 2, 2016 South Street Seaport's 60-Story Tower Reveals Pricing (Sort of) https://ny.curbed.com/2016/3/2/11145764/fortis-south-street-seaport-condos-pricing March 10, 2023 Curbed NY September 25, 2022 https://web.archive.org/web/20220925210403/https://ny.curbed.com/2016/3/2/11145764/fortis-south-street-seaport-condos-pricing dead Fortis hired the Italian firm Pizzarotti as general contractor, likely in part because of Pizzarotti's low rates.Brenzel Kathryn December 3, 2023 Fortis Property Group's Seaport Residences tower Leans In https://therealdeal.com/magazine/national-december-2023/how-fortis-luxury-high-rise-became-the-leaning-tower-of-fidi/ February 10, 2024 The Real Deal January 18, 2024 https://web.archive.org/web/20240118212633/https://therealdeal.com/magazine/national-december-2023/how-fortis-luxury-high-rise-became-the-leaning-tower-of-fidi/ live SSC High Rise was hired as the concrete subcontractor. Condo sales launched in April 2016, with the cheapest being offered for $1.2 million.Hughes C. J. April 22, 2016 A Glassy Condo at South Street Seaport en-US The New York Times https://www.nytimes.com/2016/04/24/realestate/a-glassy-condoatsouth-street-seaport.html March 10, 2023 0362-4331 January 10, 2023 https://web.archive.org/web/20230110054746/https://www.nytimes.com/2016/04/24/realestate/a-glassy-condoatsouth-street-seaport.html live Plitt Amy April 20, 2016 Fortis's 60-Story Seaport Tower Launches Sales From $1.325M https://ny.curbed.com/2016/4/20/11466840/financial-district-seaport-condos-for-sale March 10, 2023 Curbed NY October 1, 2022 https://web.archive.org/web/20221001044259/https://ny.curbed.com/2016/4/20/11466840/financial-district-seaport-condos-for-sale dead Twenty percent of the units were in contract within one day. At the time, the structure was supposed to open in early 2018. Swedish real estate broker Fredrik Eklund was among the earliest condominium buyers, acquiring a duplex on the 46th and 47th floors.Rosenberg Zoe May 3, 2017 Fredrik Eklund buys another multi-million dollar condo, this time at 1 Seaport https://ny.curbed.com/2017/5/3/15531528/fredrik-eklund-nyc-apartments-1-seaport March 10, 2023 Curbed NY December 8, 2022 https://web.archive.org/web/20221208060803/https://ny.curbed.com/2017/5/3/15531528/fredrik-eklund-nyc-apartments-1-seaport dead Fortis offered to make Eklund a monopoly on marketing the building's condos, provided that he was able to sell one-quarter of the units in eight weeks. Eklund opened a sales office in London after contemplating opening offices in other cities around the world. Bank Leumi USA, a subsidiary of Bank Leumi, gave Fortis a $90 million construction loan for the property in June 2016.June 14, 2016 Emmet Marvin, Tannenbaum Helpern Guide $90M NYC Loan https://www.law360.com/articles/806863/emmet-marvin-tannenbaum-helpern-guide-90m-nyc-loan March 10, 2023 Law360 March 11, 2023 https://web.archive.org/web/20230311013737/https://www.law360.com/articles/806863/emmet-marvin-tannenbaum-helpern-guide-90m-nyc-loan live To attract buyers, Fortis announced a partnership with Hinckley Yachts in late 2016, renting three luxury yachts to condominium owners.Rosenberg Zoe October 7, 2016 Seaport condo offers up the next over-the-top amenity: yacht rentals https://ny.curbed.com/2016/10/7/13206214/hinckley-yacht-service-nyc-condos March 10, 2023 Curbed NY July 6, 2022 https://web.archive.org/web/20220706024255/https://ny.curbed.com/2016/10/7/13206214/hinckley-yacht-service-nyc-condos dead Under the terms of its condo offering plan, Fortis was to have finalized the first condo sales in January 2018. If Fortis had failed to finalize any contracts by June 2018, the developer had to provide an updated budget; buyers could renege on their contracts if the project had overrun its $273 million budget by at least 25 percent.Pilgrim Lexi October 19, 2017 Fortis Property Group – 161 Maiden Lane https://therealdeal.com/new-york/2017/10/19/work-still-halted-on-fortis-one-seaport-project-and-deadlines-are-looming/ March 10, 2023 The Real Deal March 11, 2023 https://web.archive.org/web/20230311013737/https://therealdeal.com/new-york/2017/10/19/work-still-halted-on-fortis-one-seaport-project-and-deadlines-are-looming/ live Construction issues and delays Between January and September 2017, the New York City Department of Buildings (DOB) issued 10 building-code violations to Pizzarotti.Vinopal Courtney December 21, 2022 Scaffolding Deaths Are Claiming New York's Immigrant Workers in an Industry Lacking Accountability https://observer.com/2022/12/scaffolding-deaths-are-claiming-new-yorks-immigrant-workers-in-an-industry-lacking-accountability/ March 10, 2023 Observer March 6, 2023 https://web.archive.org/web/20230306042916/https://observer.com/2022/12/scaffolding-deaths-are-claiming-new-yorks-immigrant-workers-in-an-industry-lacking-accountability/ live Construction workers in labor unions also protested outside the building, mounting an inflatable rat to protest the fact that non-unionized laborers were employed at 161 Maiden Lane. An employee of SSC High Rise died in September 2017 after falling from the building's 29th floor.Sandoval Edgar Smith Greg Rayman Graham September 21, 2017 Two construction workers plunge to their deaths at separate Manhattan job sites with unresolved violations https://www.nydailynews.com/new-york/workers-fatally-fall-troubled-nyc-job-sites-article-1.3511065 live April 25, 2019 https://web.archive.org/web/20190425202520/https://www.nydailynews.com/new-york/workers-fatally-fall-troubled-nyc-job-sites-article-1.3511065 April 25, 2019D'Amato Peter September 21, 2017 Two construction workers die in separate falls in Manhattan https://www.crainsnewyork.com/article/20170921/REAL_ESTATE/170929971/worker-falls-to-his-death-at-financial-district-site March 10, 2023 Crain's New York Business May 17, 2022 https://web.archive.org/web/20220517070854/https://www.crainsnewyork.com/article/20170921/REAL_ESTATE/170929971/worker-falls-to-his-death-at-financial-district-site live Investigators determined that the employee had unhooked his safety harness after it was jammed in a scaffolding platform and that an SSC foreman had ordered the platform to be moved with workers on it, causing the employee to fall to his death. Because it is against New York City building code to move a platform with workers on it, SSC pleaded guilty to manslaughter in July 2018.Brenzel Kathryn July 13, 2018 Construction firm pleads guilty to manslaughter in worker's death at site of FiDi condo project The Real Deal https://therealdeal.com/2018/07/13/construction-company-pleads-guilty-to-manslaughter-in-death-of-worker-at-161-maiden-lane/ live April 25, 2019 https://web.archive.org/web/20190425202231/https://therealdeal.com/2018/07/13/construction-company-pleads-guilty-to-manslaughter-in-death-of-worker-at-161-maiden-lane/ April 25, 2019 The firm was ordered to pay $10,000,Kim Betsy October 3, 2018 One Seaport Receives $66M in Mezz Financing https://www.globest.com/2018/10/03/one-seaport-receives-66m-in-mezz-financing/?slreturn=20250206162722 February 6, 2025 GlobeSt the maximum fine that could be levied for building-code violations in New York state. Following the incident, the project was halted indefinitely; two-thirds of the condos had already gone into contract. Work resumed in December 2017. The next month, the DOB issued two stop-work orders due to incorrectly installed construction netting.Pilgrim Lexi February 2, 2018 161 Maiden Lane – Fortis Property Group https://therealdeal.com/new-york/2018/02/02/after-worker-death-construction-at-161-maiden-lane-faces-hurdles/ March 10, 2023 The Real Deal March 10, 2023 https://web.archive.org/web/20230310220844/https://therealdeal.com/new-york/2018/02/02/after-worker-death-construction-at-161-maiden-lane-faces-hurdles/ live By January 2018, Fortis planned to obtain $185 million in construction financing for 161 Maiden Lane.Maurer Mark January 25, 2018 Fortis looking to finance unsold condos at 1 Seaport and LICH site https://therealdeal.com/new-york/2018/01/25/fortis-looking-to-finance-unsold-condos-at-1-seaport-and-lich-site/ March 10, 2023 The Real Deal March 10, 2023 https://web.archive.org/web/20230310231847/https://therealdeal.com/new-york/2018/01/25/fortis-looking-to-finance-unsold-condos-at-1-seaport-and-lich-site/ live RC Structures replaced SSC as the concrete subcontractor, though sources disagree on whether SSC was fired or whether its employees refused to come to work. In any case, work resumed soon after, even though Pizzarotti had received a memo that April, indicating that the building was leaning 3 in to its north. Construction was paused again that April after a concrete bucket hit the 34th floor, poured concrete onto the street, and lifted part of the 34th-story deck.Brenzel Kathryn April 30, 2018 161 Maiden Lane – RC Structures – Pizzarotti https://therealdeal.com/new-york/2018/04/30/pizzarotti-replaces-troubled-concrete-company-at-161-maiden-lane/ live https://web.archive.org/web/20230311013737/https://therealdeal.com/new-york/2018/04/30/pizzarotti-replaces-troubled-concrete-company-at-161-maiden-lane/ March 11, 2023 March 10, 2023 The Real Deal Exacerbating the building's structural issues, contractors poured the upper stories' concrete slabs unevenly, in an attempt to cancel out the building's lean. This led Pizzarotti's lawyer to compare the building's shape to a banana.Ramsay James February 3, 2025 Extra Extra: The leaning tower of 1 Seaport is now more of a banana shape https://gothamist.com/news/extra-extra-the-leaning-tower-of-1-seaport-is-now-more-of-a-banana-shape February 6, 2025 Gothamist The building topped out during September 2018.Young Michael September 18, 2018 One Seaport Officially Tops Out Along The East River In Lower Manhattan YIMBY https://newyorkyimby.com/2018/09/one-seaport-officially-tops-out-along-the-east-river-in-lower-manhattan.html live April 25, 2019 https://web.archive.org/web/20190425202608/https://newyorkyimby.com/2018/09/one-seaport-officially-tops-out-along-the-east-river-in-lower-manhattan.html April 25, 2019 The same month, Mack Real Estate gave Fortis a $66 million mezzanine loan for the property.Small Eddie September 28, 2018 Fortis Property Group – 1 Seaport https://therealdeal.com/new-york/2018/09/28/fortis-recapitalizes-1-seaport-with-66m-loan/ March 10, 2023 The Real Deal March 11, 2023 https://web.archive.org/web/20230311014325/https://therealdeal.com/new-york/2018/09/28/fortis-recapitalizes-1-seaport-with-66m-loan/ live Cunningham Cathy September 27, 2018 NKF Locks Down $66M Mezz Loan for Fortis' 1 Seaport https://commercialobserver.com/2018/09/nkf-locks-down-66-million-mezz-loan-for-fortis-1-seaport/ March 10, 2023 Commercial Observer March 11, 2023 https://web.archive.org/web/20230311014345/https://commercialobserver.com/2018/09/nkf-locks-down-66-million-mezz-loan-for-fortis-1-seaport/ live At the time, potential buyers had signed contracts for 72 of the building's 98 condominiums. Pizzarotti sued Fortis in March 2019 over the building's northward lean.Rebong Kevin April 3, 2019 Leaning Tower of Pizzarotti? Contractor sues Fortis over alignment issues at Seaport project https://therealdeal.com/new-york/2019/04/03/leaning-tower-of-pizzarotti-contractor-sues-fortis-over-alignment-issues-at-seaport-project/ March 10, 2023 The Real Deal March 11, 2023 https://web.archive.org/web/20230311014245/https://therealdeal.com/new-york/2019/04/03/leaning-tower-of-pizzarotti-contractor-sues-fortis-over-alignment-issues-at-seaport-project/ live Spivack Caroline April 3, 2019 Contractor sues developer over 'leaning' lower Manhattan condo tower Curbed https://ny.curbed.com/2019/4/3/18292635/fortis-pizzarotti-contractor-sues-developer-leaning-lower-manhattan-condo-tower dead April 25, 2019 https://web.archive.org/web/20190405174201/https://ny.curbed.com/2019/4/3/18292635/fortis-pizzarotti-contractor-sues-developer-leaning-lower-manhattan-condo-tower April 5, 2019 By then, Pizzarotti was no longer employed as the general contractor.Rebong Kevin May 13, 2019 Fortis Property Group – Pizzarotti – 161 Maiden Lane https://therealdeal.com/new-york/2019/05/13/fortis-blames-pizzarotti-for-leaning-seaport-tower/ March 10, 2023 The Real Deal March 10, 2023 https://web.archive.org/web/20230310230334/https://therealdeal.com/new-york/2019/05/13/fortis-blames-pizzarotti-for-leaning-seaport-tower/ live According to local website New York YIMBY, work on the building had been halted for several months.Young Michael April 16, 2019 Visible Construction Halts as One Seaport Allegedly Begins To Lean, at 161 Maiden Lane, in the Financial District https://newyorkyimby.com/2019/04/construction-halts-as-one-seaport-allegedly-begins-to-lean-at-161-maiden-lane-in-the-financial-district.html March 10, 2023 New York YIMBY October 14, 2022 https://web.archive.org/web/20221014071435/https://newyorkyimby.com/2019/04/construction-halts-as-one-seaport-allegedly-begins-to-lean-at-161-maiden-lane-in-the-financial-district.html live Pizzarotti claimed that, due to the developers' use of soil improvement to construct the foundation, the building had settled unevenly, causing it to tilt; a subcontractor first noticed the issue in April 2018.Spivack Caroline September 10, 2021 The Leaning Tower of Seaport May Finally Break Its Bad Luck https://www.curbed.com/2021/09/leaning-seaport-tower-may-break-its-bad-luck.html March 10, 2023 Curbed September 30, 2022 https://web.archive.org/web/20220930185625/https://www.curbed.com/2021/09/leaning-seaport-tower-may-break-its-bad-luck.html live Baird-Remba Rebecca April 2, 2019 Contractor Sues Fortis Over 'Unsafe' Leaning Condo Tower Near Seaport Commercial Observer https://commercialobserver.com/2019/04/contractor-sues-fortis-over-unsafe-leaning-tower-condo-near-seaport/ live April 25, 2019 https://web.archive.org/web/20190425203353/https://commercialobserver.com/2019/04/contractor-sues-fortis-over-unsafe-leaning-tower-condo-near-seaport/ April 25, 2019 Pizzarotti claimed that it had difficulties installing the glass curtain wall because of the building's lean and that a continued lean would result in non-functioning windows, faulty elevators, and bad waterproofing.Clarke Katherine February 17, 2022 The Ghost Condos of NYC's Financial District https://www.wsj.com/articles/the-ghost-condos-of-nycs-financial-district-11645043359 March 10, 2023 Wall Street Journal 0099-9660 February 20, 2023 https://web.archive.org/web/20230220000415/https://www.wsj.com/articles/the-ghost-condos-of-nycs-financial-district-11645043359 live Fortis filed a countersuit that May, blaming Pizzarotti for not properly surveying the construction site and for failing to ensure workers' safety. The developer hired engineering firms WSP Global and Arup Group, which both concluded that the building's lean did not compromise its structural integrity. Ray Builders, which replaced Pizzarotti as general contractor, designed a glass curtain wall that accommodated the lean. In June 2019, Fortis notified condominium buyers that the building was leaning about 8 in to the north. Work halts Ray Builders stopped working on the project in July 2020, claiming that Fortis had failed to pay its workers. The next month, Fortis sued Bank Leumi, claiming that the bank had failed to distribute part of the loan as scheduled. Bank Leumi had placed the project's $120 million construction loan for sale in October 2020,Hall Miriam October 14, 2020 Construction Halted At Leaning Seaport Condo Tower Amid Legal Dispute Over Loan https://www.bisnow.com/new-york/news/construction-development/leaning-tower-of-seaport-fortis-loan-106333 March 10, 2023 Bisnow November 1, 2020 https://web.archive.org/web/20201101080230/https://www.bisnow.com/new-york/news/construction-development/leaning-tower-of-seaport-fortis-loan-106333 live Larsen Keith October 2, 2020 One Seaport Construction Loan For Sale https://therealdeal.com/new-york/2020/10/02/construction-loan-tied-to-leaning-seaport-condo-up-for-sale/ March 10, 2023 The Real Deal March 11, 2023 https://web.archive.org/web/20230311014257/https://therealdeal.com/new-york/2020/10/02/construction-loan-tied-to-leaning-seaport-condo-up-for-sale/ live and the bank was foreclosing on the loan by the end of that year.December 24, 2020 Bank Leumi files to foreclose on Fortis's $120M loan at 161 Maiden Lane https://www.pincusco.com/bank-leumi-files-to-foreclose-on-fortiss-120m-loan-at-161-maiden-lane/ March 10, 2023 PincusCo August 11, 2022 https://web.archive.org/web/20220811204451/https://www.pincusco.com/bank-leumi-files-to-foreclose-on-fortiss-120m-loan-at-161-maiden-lane/ live Rebong Kevin December 28, 2020 Seaport Condo Lender Seeks Foreclosure on $120M Loan https://therealdeal.com/new-york/2020/12/28/leaning-seaport-condo-facing-foreclosure-on-120m-loan/ March 10, 2023 The Real Deal March 11, 2023 https://web.archive.org/web/20230311014337/https://buy.tinypass.com/checkout/template/cacheableShow?aid=p7sVIGTDn5&templateId=OTKM7F97TXNP&offerId=fakeOfferId&experienceId=EX4FQIM0EZ0Z&iframeId=offer_97e12a9720251a7aa748-1&displayMode=inline&pianoIdUrl=https%3A%2F%2Fid.tinypass.com%2Fid%2F&widget=template&url=https%3A%2F%2Ftherealdeal.com live Due to the continuing delays, by February 2021, all except six of the condo buyers had reneged on their contracts.Modi Priyanka August 24, 2021 Bank Leumi and Fortis Agree to Mediation Over 161 Maiden Lane https://therealdeal.com/new-york/2021/08/24/seaport-developer-lender-agree-to-mediation-over-troubled-leaning-tower/ March 10, 2023 The Real Deal March 11, 2023 https://web.archive.org/web/20230311014247/https://therealdeal.com/new-york/2021/08/24/seaport-developer-lender-agree-to-mediation-over-troubled-leaning-tower/ live In addition, because the upper stories had not yet been enclosed, they were vulnerable to temperature changes and weather.Young Michael February 19, 2021 Seaport Residences' Future Remains Uncertain in Financial District, Manhattan https://newyorkyimby.com/2021/02/seaport-residences-future-remains-uncertain-in-financial-district-manhattan.html March 10, 2023 New York YIMBY en-US September 19, 2021 https://web.archive.org/web/20210919114020/https://newyorkyimby.com/2021/02/seaport-residences-future-remains-uncertain-in-financial-district-manhattan.html live A state judge appointed a receiver to secure the site in May 2021, as the lawsuits proceeded. Ray resigned as general contractor, and Engel Burman Construction was hired to secure the construction site. Richard Cohn was also appointed as the abandoned tower's manager. Bank Leumi and Fortis agreed to mediation in August 2021.Hall Miriam August 25, 2021 'Leaning' Seaport Tower Developer, Lender Negotiating Over Condo's Future https://www.bisnow.com/new-york/news/construction-development/leaning-seaport-tower-developer-and-lender-working-together-to-try-and-find-solution-for-condos-future-109987 March 10, 2023 Bisnow September 9, 2021 https://web.archive.org/web/20210909001920/https://www.bisnow.com/new-york/news/construction-development/leaning-seaport-tower-developer-and-lender-working-together-to-try-and-find-solution-for-condos-future-109987 live Both the lender and the developer had withdrawn from mediation by March 2022, when a lawyer for Bank Leumi said the "parties were too far apart in discussions to reach any resolution".Modi Priyanka March 11, 2022 Developer, Lender Headed to Trial in Seaport Project Dispute https://therealdeal.com/new-york/2022/03/11/fight-is-on-for-leaning-seaport-tower-after-mediation-falls-apart/ March 10, 2023 The Real Deal March 11, 2023 https://web.archive.org/web/20230311014302/https://buy.tinypass.com/checkout/template/cacheableShow?aid=p7sVIGTDn5&templateId=OTKM7F97TXNP&offerId=fakeOfferId&experienceId=EX4FQIM0EZ0Z&iframeId=offer_97e12a9720251a7aa748-4&displayMode=inline&pianoIdUrl=https%3A%2F%2Fid.tinypass.com%2Fid%2F&widget=template&url=https%3A%2F%2Ftherealdeal.com live Mack Real Estate sued Fortis, Harel Insurance Company, and Valley National Bank (which had acquired Bank Leumi's United States division) in September 2022. Mack claimed that Harel and Bank Leumi had fraudulently misused the $66 million mezzanine loan that Mack had placed on the project.Monahan Shea September 7, 2022 Fortis, Bank Leumi USA Accused of Fraud over One Seaport Mezz Loan https://therealdeal.com/new-york/2022/09/07/mack-real-estate-sues-for-566m-over-fortis-project-loans/ March 10, 2023 The Real Deal March 11, 2023 https://web.archive.org/web/20230311014247/https://therealdeal.com/new-york/2022/09/07/mack-real-estate-sues-for-566m-over-fortis-project-loans/ live September 2, 2022 Mezz lender Mack sues Fortis, Bank Leumi and Harel at troubled Seaport condo, seeking millions https://www.pincusco.com/mezz-lender-mack-sues-fortis-bank-leumi-and-harel-at-troubled-seaport-condo-seeking-millions/ March 10, 2023 PincusCo November 27, 2022 https://web.archive.org/web/20221127121956/https://www.pincusco.com/mezz-lender-mack-sues-fortis-bank-leumi-and-harel-at-troubled-seaport-condo-seeking-millions/ live The project remained halted as of late 2022,Young Michael Pruznick Matt November 21, 2022 Seaport Residences Remains Stalled at 161 Maiden Lane in Financial District, Manhattan New York YIMBY https://newyorkyimby.com/2022/11/seaport-residences-remains-stalled-at-161-maiden-lane-in-financial-district-manhattan.html live December 31, 2022 https://web.archive.org/web/20221231023555/https://newyorkyimby.com/2022/11/seaport-residences-remains-stalled-at-161-maiden-lane-in-financial-district-manhattan.html December 31, 2022 in part due to continuing litigation over the site.Marroquin Mario May 17, 2023 Wave of legal action stalls completion of 'Leaning Tower of Lower Manhattan' https://www.crainsnewyork.com/real-estate/leaning-tower-lower-manhattan-stalls-amidst-litigation November 20, 2023 Crain's New York Business November 20, 2023 https://web.archive.org/web/20231120170838/https://www.crainsnewyork.com/real-estate/leaning-tower-lower-manhattan-stalls-amidst-litigation live By mid-2023, the building had not had a working standpipe for over a year, making it difficult to put out any fires that might start in the tower.Smith Greg B. May 16, 2023 Stalled Condo Tower Near Wall Street Doesn't Just Tilt https://www.thecity.nyc/2023/05/16/stalled-condo-maiden-lane-fdny-hazard/ November 20, 2023 THE CITY – NYC News November 20, 2023 https://web.archive.org/web/20231120170840/https://www.thecity.nyc/2023/05/16/stalled-condo-maiden-lane-fdny-hazard/ live In August 2023, a judge ordered Fortis and Valley National to resume mediation.Brenzel Kathryn August 31, 2023 Judge to Fortis, Bank Leumi: Mediate Leaning Tower Dispute https://therealdeal.com/new-york/2023/08/31/judge-to-fortis-bank-leumi-mediate-leaning-tower-dispute/ November 20, 2023 The Real Deal November 20, 2023 https://web.archive.org/web/20231120170836/https://therealdeal.com/new-york/2023/08/31/judge-to-fortis-bank-leumi-mediate-leaning-tower-dispute/ live Long Ciara August 31, 2023 Judge: Dispute Over Unfinished Seaport Condo Tower Caused 'Exponential Devaluation' https://www.bisnow.com/new-york/news/construction-development/judge-tells-fortis-and-seaport-condo-lender-to-try-mediation-again-120467 November 20, 2023 Bisnow November 20, 2023 https://web.archive.org/web/20231120170836/https://www.bisnow.com/new-york/news/construction-development/judge-tells-fortis-and-seaport-condo-lender-to-try-mediation-again-120467 live By that October, Shelly Listokin, who had previously agreed to buy the loans on the property, had filed for Chapter 11 bankruptcy protection to avoid buying the loans.Brenzel Kathryn October 26, 2023 Shelly Listokin Stalls His Purchase of 161 Maiden Lane Loans https://therealdeal.com/new-york/2023/10/26/shelly-listokin-stalls-his-purchase-of-161-maiden-lane-loans/ November 20, 2023 The Real Deal November 20, 2023 https://web.archive.org/web/20231120170837/https://therealdeal.com/new-york/2023/10/26/shelly-listokin-stalls-his-purchase-of-161-maiden-lane-loans/ live Fortis was also sued by its own lawyers that December, as the developer had not paid its legal team.Larsen Keith December 14, 2023 Fortis Battles its Own Lawyers Over Seaport Fiasco https://therealdeal.com/new-york/2023/12/14/fortis-battles-its-own-lawyers-over-seaport-fiasco/ February 10, 2024 The Real Deal December 17, 2023 https://web.archive.org/web/20231217022833/https://therealdeal.com/new-york/2023/12/14/fortis-battles-its-own-lawyers-over-seaport-fiasco/ live Although there was no imminent safety risk at the tower, there were still concerns over how much the tower would move after cladding was completed. Three graffiti artists had spray-painted the upper part of the facade; The New Yorker quoted one of these artists as saying that the building completely lacked a security detail. By 2025, there were several ongoing lawsuits over the building, which had cost $250 million to date. References External links https://seaportresidencesnyc.com/ Category:Financial District, Manhattan Category:Inclined towers in the United States Category:Residential buildings in Manhattan Category:Unfinished buildings and structures in the United States