Sag Harbor's Old Factory Turned to Posh Lofts

For about 130 years, the former Bulova Watch Factory in the charming Long Island village of Sag Harbor sat abandoned and deteriorating. It came up to the point that the only thing that was to be done was to destroy it.

"The 132-year-old landmark was in danger of degrading past the point of restoration by the time developer Cape Advisors—known for Manhattan's Jean Nouvel-designed 100 Eleventh Avenue—stepped in and began convincing the town to permit the transformation of the old factory into high-end lofts and the addition of new houses on the perimeter of the 2.5-acre property. Now known as the Watchcase, the historic building has been shored up and the project is finally entering the last phase of construction, with completion scheduled for early summer 2014."

-YAHOO!

Amazing how this transformation happened! Now no one can claim that this is a lousy old factory. The most expensive room a three-bed, four-bath penthouse with two terraces, will set buyers back $7.25M. Not too shabby eh?