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Update on Sag Harbor's West Water Street Condos

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When last we checked in with this troubled project back in August—remember, it was proposed in 2006, broke ground in 2008, and then the financial crisis happened—the whole thing was up for a bankruptcy auction, minimum bid $27.1M. Commenters were scornful: "I don't think there's an interior build out that would remotely justify the pricing. You're talking well over $1mm/unit on average." "I hope the bank likes being a developer and condo association manager, 'cause they're gonna be one for a lot longer!" Well?yeah. The auction didn't happen because no one met the minimum requirements. Now the bank is planning to finish the 19 units and sell them. As of this week, the owners seem to be reshingling them (below). Looks pretty odd to us—can't imagine what they'll look like when they're finished.