Tenants have already begun moving in, and the building is one-third leased, according to company president Thomas Barrett. The project's features include an outdoor pool, tennis courts, a fitness center and shuttle service to a nearby New York ferry service. Also, 10 units have been set aside with three-month leases to temporarily accommodate residents of Manhattan's Battery Park City who were displaced by the attack on the World Trade Center.

Next step for Barrett is a second luxury tower, also 12 stories, which is projected to include more than 330 units. No timeline has been set for phase two.

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