After the developers behind the 21 West Water Street condominium project in Sag Harbor Village – East End Development, LLC – filed for bankruptcy last fall, sale of the property is reportedly imminent and temporary financing will allow the project to be completed.
According to reports by The Sag Harbor Express and 27East.com, the project's general contractor, Roy Wines IV, spoke in front of the village Architectural Review Board on Monday, saying that the condo project should be completed by the fall.
Longview Ultra – which has a $30.5 million lien against the property, according to the Express – has reportedly provided financing to allow construction to continue, until the property is sold at public auction.
For more information, visit The Sag Harbor Express or 27East.com.
